Americas

The Western Michigan city has been a hotbed of credit union activity given its low unemployment rate.

The company will pay $130 million for Commerce Financial Holdings.

Ericson State Bank, which had been in regulators’ sights for a decade, was closed by state and federal authorities Friday. Another bank acquired all of its deposits and a fraction of its assets.

Fort Worth City CU returned money to members who saved and borrowed from the credit union last year, though net income was down amid an increase in charge offs and delinquencies.

Hanover Bancorp is facing a proxy battle after its CFO and two other bankers bolted to a rival.

Gene Foley joined Harvard University Employees CU as a teller in 1979 and has been CEO since 1994.

The Raleigh, North Carolina, institution's payout for 2019 was 12% higher than the previous year.

A large charge-off and an additional loan-loss provision reduced quarterly profit by 12%, to $47.8 million.

Section 705 FCU, originally chartered to serve postal employees, has a new chief executive following the retirement of its longtime CEO.

The North Carolina-based credit union hopes an injunction will prevent further use of that branding until a trademark infringement suit is settled.