New York

The company has long focused on customers with ties to the two states. But as it emerges from the pandemic seeking new lending opportunities, CEO Rajinder Singh says, “We are looking at markets from Boston all the way down to Atlanta.”

The New York institution is believed to be the first credit union to open its doors to the general public as part of the mass vaccination effort.

United Neighbors Federal Credit Union holds just $4.4 million of assets, but the addition will help broaden SeaComm's branch network and expand its member base.

The department of financial services will grant credit under the state's community reinvestment law to New York-chartered banks and credit unions that finance projects aimed at helping low-income communities better adapt to a warming world.

The measure, just the second of its kind the nation, mandates that fintechs, factoring firms and other nonbank small-business lenders clearly explain the terms and conditions to borrowers.

Though it is unclear why Rhinebeck Bancorp is looking to form Rhinebeck Commercial Bank, other mutual banks have pursued the strategy to work around a state law barring them from working with municipalities.

The league has altered its formula for calculating member dues, a move expected to save credit unions nearly $800,000 next year.

Richard Yeager's promotion comes at a time of growth for the New York-based institution, including having recently been granted a field-of-membership expansion.

John Lewis, who is currently general counsel for the New York-based credit union, will take over for CEO William Predmore, who is retiring at the end of the year.

Aissatou Barry-Fall, a 30-year veteran of the credit union, has been promoted to chief executive.