Americas

Chief Operations Officer Jerry Schmidt will take over at the Rapid City, S.D.-based institution in early January.

The companies took a pause from merger discussions when the pandemic hit to evaluate their individual circumstances.

The credit union now has a community charter to serve seven counties in addition to several select employee groups.

Fran Godfrey, who has spent more than 35 years at the Michigan-based institution, will step down at the end of January.

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.

Coast 2 Coast Financial Credit Union has agreed to join the Florida-based Achieva, which previously acquired two community banks.

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.

Cameron Minges will become president of the Indianapolis-based credit union effective Jan. 1.

The name change, which will take effect Jan. 1, comes following the merger of CP Financial and Washtenaw Federal Credit Union.