Minnesota

Some credit unions have closed branches as demonstrations continue following the death of George Floyd last week.

TruStone Financial and Firefly Credit Union have announced plans to merge, pending regulatory approval and charter changes.

The St. Paul, Minn.-based institution will provide a 20% bonus to member-facing staff who are at additional risk during the outbreak since they are "essential employees."

Tammy Heikkinen, who has led the institution since 2008, will stay on until her successor joins the credit union.

The Minnesota bank is locked in a bitter legal battle to preserve its independence. Its foe? The charitable organization set up by its founder.

The company claims that its biggest investors is taking steps to seize control, oust the board and find a buyer.

The program will be called Bucks for Buckeyes and will be offered in partnership with the Minnesota Credit Union Network.

The Minnesota Credit Union Network worked with two brewers to create and sell a strawberry milkshake cream ale in an effort to boost the industry's profile and raise money for financial literacy.

Their challenge is creating a viable, profitable product that doesn't get flagged for being predatory.

Jay Gostonczik will head the Minnesota-based institution when Richard Nesvold retires during the first quarter of 2020.