Americas

Jim Lumpkin, president and CEO of the Portland, Ore.-based institution, is planning to retire in the first quarter of 2020.

CUs in both states surpassed total asset milestones, but many business lines are growing at a slower pace than they were one year ago.

The $10 million-asset institution struggled with profitability, posting a loss of more than $12,000 during Q1.

Charles Friederichs, already serving in an interim capacity, has been appointed permanent CEO of the $1.1 billion-asset institution.

As more credit unions deploy mobile video banking, some observers say if credit unions don’t hop on board now they could be left behind in the next few years.

CUs in the Keystone State saw loan balances rise by 8.5%, while membership rose more than 3.3% to top 4.2 million.

A growing number of credit unions are moving their headquarters to revitalized urban areas, and while some say that could help recruit new staff, it also carries the risk of being associated with gentrification.

The Honolulu-based institution has doubled its loan portfolio over the past five years as its commercial lending has increased.

The Tucker, Ga.-based institution said the new name reflected its ties to electric cooperatives while affirming its commitment to member service.

Cynde Jones, who served as an executive vice president for more than a decade, has taken over following longtime CEO Chuck Rutan's retirement.