Nevada

Resorts World is building its entire customer experience around a digital app, hoping to eliminate the need for — and costs of — handling paper money.

The Las Vegas-based institution has joined a small group of credit unions whose assets top $1 billion, which make up less than 10% of the total industry.

Lexicon Bank in Las Vegas, whose chairman was a professional gambler, is actively courting poker players to open deposit accounts for their tournament winnings.

Greater Nevada Credit Union, like a number of community banks, agreed to sell its Paycheck Protection Program loans to avoid having to navigate the complicated forgiveness process.

Member business lending growth has fluctuated in recent years but growth overall is slowing even as balances continue to rise. The long run of success could prove to be a problem when the economy finally turns south.

The Las Vegas-based institution reported that its net interest margin rose during the third quarter of 2019 as consumer loan balances increased.

The Providence, R.I., bank recently installed a new regional head in California to oversee a commercial banking expansion into five western states. The bank says it’s trying to craft a successful growth strategy while reassuring investors it isn’t overreaching.

Credit unions have largely moved past their distrust of fintechs, but plenty of institutions still face challenges when it comes to finding the right vendors.

Credit unions not actively thinking about mergers are at risk of missing out, an industry expert warned at a recent conference.

With the loan-to-savings ratio at its highest point in four decades, some CUs have limited options to boost their funding.