Americas

The Mississippi company said it decided to take aggressive measures to reduce its exposure to energy firms.

The Louisville, Ky.-based credit union has been open to consumers in nine counties across two states since 2004, but the new name is intended to prevent confusion about who is eligible to join.

Combining the two Southern California-based institutions will create the state's eighth-largest credit union. The deal is also a homecoming of sorts of Xceed CEO Teresa Freeborn, who was previously an executive at Kinecta.

The company said it recorded a large loan-loss provision in the second quarter to reflect Coex Coffee International's pending liquidation.

The Los Angeles company said Chang Liu, who runs its bank, will succeed Pin Tai, who is retiring.

A merger proposal at Partners Financial Federal Credit Union was rejected in a member vote. The failure has revealed tensions between management and the board.

The South Carolina-based credit union will buy two locations from Arkansas-based Bank OZK as it moves to exit the Palmetto State.

The Arkansas bank is selling two South Carolina branches to a credit union just two weeks after announcing plans to divest its branches in Alabama.

Primary races in Alabama, Maine and Texas resulted in victories for candidates with support from the Credit Union Legislative Action Fund.

The two institutions are part of the continuing trend of federally chartered credit unions converting to state charters in a push for greater flexibility and membership growth.