Americas

NuMark and NorthStar Credit Unions plan to join forces later this year, with NuMark CEO Ann Dubie retiring once the deal has been completed.

The Massachusetts company is laying off more than 40 employees with a focus on people working in its retail banking operations.

The proposed combination would create a bank with $3 billion in assets in central Virginia.

Having been forced to cancel in-person events because of the pandemic, leagues representing CUs in Kansas, Missouri and Illinois have joined forces for a three-day event next month.

Cypress Trust Co. has requested deposit insurance from the Federal Deposit Insurance Corp.

Prior to the merger, First Castle was the nation's second-oldest existing federally chartered credit union.

Just eight loans had been made as of late July, six of them through a single community bank in Florida, according to new data on the federal rescue program for small and midsize companies hurt by the pandemic.

The credit union, formerly known as Kern Schools FCU, selected an internal candidate to take the helm once Stephen P. Renock, IV, retires in July.

Chief Financial Officer Matt Koch will take the helm later this year when longtime CEO Clark Yelverton retires.

The coronavirus outbreak initially looked like it might torpedo U.K.-based Paysafe’s plan to expand in the U.S. in 2020. But several months into the pandemic, the payments conglomerate sees ways it can grow by helping bruised small businesses retool operations.