Michigan

Embers Credit Union and Upper Michigan Community CU will open their doors as a merged institution on June 3, nearly a year after members voted to approve the deal.

The East Lansing-based credit union plans to open two branches in the Traverse City area, more than three hours north of its headquarters.

While regulation and nonbank competition are spooking some banks and credit unions, others believe low funding costs and the right relationships can help them succeed.

While regulation and nonbank competition are spooking some banks, others believe low funding costs and the right relationships can help them succeed.

Credit Union Trust, a new credit union service organization, has obtained a bank charter that it will use in offering trust and investment-related services.

The Michigan company said the loan — made to a borrower that plans to shut down its reverse mortgage business — has collateral.

Consolidation activity was ho-hum for most of April before a burst of transactions — and notable ones at that — were announced in the month's final week.

Two attorneys told a credit union audience the growing wave of marijuana legalization could have just as big an impact on financial institutions that don't serve the cannabis industry as those that do.

As credit unions attempt to bring in deposits to fund more loans, one institution's success story could offer a path for others.

The Indiana credit union agreed to pay $21.3 million in cash for New Bancorp, which was created when its savings bank converted to a stock-owned company in 2015.

The Michigan-based credit union, which has a branch network across six states, also saw an increase in deposits.

Several credit union leagues and credit union service organizations have formed a new group, called AffirmXCU, that will offer risk management technology.

The Dallas regional assured analysts that it has ample sources of liquidity to fund its expected loan growth.

MiCommunity Bancorp, which will be Michigan's first new bank since the financial crisis, raised $30 million in initial capital.

From new legislation to mergers and more, here's a look at measures from across the country that could change how credit unions do business.

2018 was mixed bag for credit unions in the Wolverine State, with membership and lending still seeing positive numbers but down from previous years.

The companies had planned to make Chemical CEO David Provost the new leader before October's market gyrations led them to break off talks. When they revisited the deal, several things changed — including Provost's role.

Some institutions have benefited from revitalization in the Motor City but just as consumers fled for the suburbs decades ago, most CUs in the area are headquartered outside the city itself.

University Bancorp gained a number of offices from Huron Valley Financial. It also hired lenders and staff with experience in reverse mortgages and wholesale lending.

Events at local breweries can be a fun way to educate younger members about getting their first mortgage but credit unions must walk a fine line at such events.