Banking

Here are some highlights about the largest credit unions that made the 2023 ranking of the Best Credit Unions to Work For.

Here are the honorees that fall into the midsize category for this year's Best Credit Unions to Work For.

Read on for additional details on the 19 credit unions that made this year's Best Credit Unions to Work For ranking in this asset category.

Here is a look at the honorees from the smallest asset class of this year's Best Credit Unions to Work For.

Five Star Credit Union and Michigan State University Federal Credit Union announced a combined four bank acquisitions within a few days. They're among 10 credit union agreements to buy banks this year.

When the prices of U.S. goods and services soar, the Federal Reserve tends to raise its benchmark interest rate, and commercial banks are pinched in several fundamental parts of their business.

Bank customers who overdraw their accounts now face an average fee of $26.61, which is down from a peak of $33.58 in 2021. Consumer advocates contend that tougher regulations are needed to sustain the momentum, while industry groups argue that bank-led innovations are working.

Financial institutions in several Southeastern states had braced for impact of the Category 3 hurricane. Bank and credit union executives in Florida and Georgia say their facilities generally weathered the storm but that some communities they serve face substantial recovery efforts.

Southwest Financial Credit Union, which led American Banker's Best Credit Unions to Work For, says employees are taking up to 400 hours more off than before its unlimited PTO policy took effect — but they are happier, and so are the members of the branchless credit union.

In August's roundup of American Banker favorites: The true cause of Heartland Tri-State Bank's failure, increased industrywide frugality among banks, two prominent credit union trade groups announce plans to combine and more.

The bank attributed the surge to impairments in the U.S. office loan portfolio and appeared to signal that higher provisions from commercial real estate may persist.

The card network has agreed to pay USAA licensing fees for the use of mobile deposit capture technology. USAA says it plans to keep trying to get other banks to do the same.

Innovations Financial Credit Union is purchasing First National Bank Northwest Florida, taking the place of Harvesters Credit Union, which terminated its 2022 deal to acquire the bank.

Many of the fees that the agency derides as unnecessary are funds owed to medical practices, homebuilders and educational institutions.

Uplinq, which helps lenders make credit decisions for small business owners using alternative data, already has large global banks among its clientele.

The Department of Justice cited American Bank of Oklahoma's lending record, as well as racially inflammatory emails it claims bank employees forwarded, in support of its redlining claims.

The Canadian bank initially told investors the acquisition would result in more than $350 million in cost savings. But a recent analysis suggests that number could be even higher.

Michigan State University Federal Credit Union, seeking to add $300 million of assets in Illinois, has agreed to purchase McHenry Savings Bank.

Apollo Global Management, Pagaya Technologies and Sixth Street are said to be working on final offers for Goldman Sachs Group's consumer-lending unit.