Corporate governance

Lafayette Federal Credit Union, Kensington, Md., on Tuesday said it completed the acquisition of $77 million CSC Employees Federal Credit Union of Falls Church, Va., which will continue as a division of LFCU.

DFCU Financial, a $3.9-billion-asset credit union based in Dearborn, just outside of Detroit, announced it has returned half of its 2015 income – amounting to some $25-million – back to 100,000 of its members through its “Cash Back” annual loyalty reward program.

TruStone Financial Federal Credit Union in Plymouth, Minn., has merged with Wisconsin-based Southshore Credit Union of Cudahy and First Credit Union of Oak Creek.

Peach State Federal Credit Union, a $301-million institution based in Lawrenceville, Ga., announced it has introduced a new website that is designed to provide visitors with an “improved online experience.”

Hanscom Federal Credit Union announced that it will pay out a “loyalty dividend” to members that will return 2% of most consumer loan finance charges as well as 2% on dividends earned on savings.

Menominee County Federal Credit Union said it will change its name to Integra First Federal Credit Union, effective Friday.

Nominations for the Pennsylvania Credit Union Association’s board of directors are due Jan. 15.

After being elected to the Glendora City Council in March, Mendell Thompson, president and CEO of $303 million America’s Christian Credit Union, was able to make an immediate positive impact for local CUs.

NCUA approved four new credit union charters in 2015, continuing the trend of seeing just a handful of new CUs joining the ranks. As part of Credit Union Journal’s Year in Review, we recap this year’s crop of de novo charters and explore why there are so few of them.

WATERFORD, Conn. – Charter Oak Federal Credit Union on Tuesday said it has awarded more than $438,000 in annual $100 cash bonuses to its Gold Rewards members in December – a new record for the $914 million credit union.

MADISON, Wis. – Compensation for credit union boards of directors divides many in the CU movement – it was part of an extensive CU Journal Special Report last year and a study from Filene Research Institute earlier this year added to the conversation about this complex issue.

GRAND RAPIDS, Mich. — Xtend, Inc., a CUSO that supplies managerial, operational, marketing, technical planning and consulting services for credit unions, on Thursday said South Bay CU, Redondo Beach, Calif., is its newest credit union stakeholder.

MIDLAND, Mich. — Dow Chemical Employees' Credit Union on Thursday said it will set a new record with its Member Giveback Rebates and Rewards for 2015.

After years of interest rates near 0%, credit unions were pleased by the Federal Reserve’s Federal Open Market Committee decision to raise the Fed Funds rate.

Filene Research Institute announced that Summit Credit Union, a $2.3-billion institution based in Madison, Wis., signed up to participate in a Filene Impact Lab program called “Larky.”

Raddon Financial Group, a provider of financial industry research and trends data, said in 2015 it added 50 new financial institutions as clients, including 40 credit unions. The remaining 10 comprised seven banks and three other institutions.

Two New Mexico credit unions became the first credit unions in the state to earn the “Juntos Avanzamos” designation.

Municipal Employees Credit Union Of Baltimore (MECU), a $1.2-billion institution based in Baltimore, Md., said its members received a loan interest rebate last week and will receive an “extraordinary dividend” at the end of this month.

Ascend Federal Credit Union, a $1.8-billion institution based in Tullahoma, Tenn., said it has issued bonus dividends and loan interest refunds totaling more than $6 million.

LA CROSSE, Wis. -- Marine Credit Union announced Monday that it has completed its merger with United Service Community Credit Union.