Americas

Sandra Sagehorn-Elliott will take over as the president and CEO of the Tucson, Ariz.-based institution next month, having served as chief operating officer of two different credit unions.

Bartow Morgan Jr., who ran Brand Banking when it was sold to Renasant, also plans to raise $150 million to expand the seller's products and services.

Wallace Watanabe spent more than 40 years at the Honolulu-based credit union, including serving as CEO from 1992 until his retirement in 2013.

A plan to merge the $5.5 million-asset credit union into Cal-Com FCU will provide additional services for members while also easing the process of replacing several employees who plan to retire this year.

The New Jersey company will add three branches in the northern part of the state as part of the transaction.

The company also plans to shed some corporate office space by the end of this year.

The purchase-and-assumption transaction, if approved, would become the first credit union-bank merger in Alabama.

Victories in Massachusetts earlier this week bring the Credit Union Legislative Action Council to a 96% success rate backing races in this election cycle.

The state's financial regulator sent a subpoena to an auto-title lender seeking information about its partnership with a Utah bank, marking the first public disclosure of an investigation into efforts to evade a 2019 law capping interest rates on many consumer loans.

The Vermont-based credit union received the OK from federal regulators to add 650,000 potential members to its FOM, an increase of 15%.