Americas

Northern Paper Mill Credit Union will merge with Fox Communities CU but no date has been given for when the deal might take effect.

The acquirer had pursued a de novo strategy in its home state but was unable to raise enough capital.

The Somerville, Mass.-based credit union appointed its VP of lending to serve as temporary CEO following the departure of its longtime leader for another institution.

Tom Meyer, CEO of 1st Capital since 2015, decided to step down because shelter-in-place orders are keeping him from family hundreds of miles from the bank.

A former market president for State Bank Financial would serve as CEO of the proposed Classic City Bank.

With schools across South Carolina closed until the end of April, the credit union is offering a perk for parents who can't do their jobs remotely.

Canada’s small businesses have lagged behind the U.S. in adopting digital commerce for a variety of reasons, but coronavirus might send things in a new direction.

The company is one of the first to share information on impacted clients, forbearance requests and emergency loan applications.

JPMorgan Chase, Wells Fargo, Citigroup and U.S. Bancorp, along with 200 state-chartered banks and credit unions, have agreed to let borrowers skip payments for 90 days if their finances have been upended by the pandemic.

The regulation issued late on Tuesday directs state-regulated financial institutions to give mortgage borrowers at least 90 days of forbearance if they can show financial hardship resulting from the coronavirus pandemic. It also requires banks and credit unions to provide relief on ATM fees and credit card late payment fees.