Corporate governance

Credit unions are well aware of the trend toward mobile, especially as a channel for reaching younger consumers. But a new study indicates that financial retailers may be missing out on a major opportunity to leverage technology and serve members by not embracing mobile messaging.

The $62-million Financial One Credit Union is using a $1,000 grant from NerdWallet to build an initiative to attract younger members.

It's well known mobile services are a key channel to younger markets, and new research from the Pew Internet & American Life Project only adds support.

New research finds that members of Gen Y are among the most likely to use alternative financial service providers, including convenience stores, check-cashing centers, and short-term lenders.

The Pennsylvania CU Association's annual Youth Ambassador contest has helped hundreds of young adults launch their CU careers, with two participants eventually becoming CEOs and one chairman of the Pennsylvania league.

Three years ago, 23-year-old Mike Williams was literally on the outside looking in when it came to Widget Federal Credit Union. Today, the former window washer is the credit union's director of business development.

Credit unions can serve a broader market and stay true to the principles of the CU movement by applying a little ingenuity, according to Josh Turnbull, director of consulting for Chicago-based Center for Financial Services Innovation

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DOWNEY, Calif. – Financial Partners CU has agreed to acquire CarePoint FCU, a one-time $69 million Los Alamitos credit union that has seen its assets decline all the way to $42 million.

ALEXANDRIA, Va. – The NCUA Board yesterday approved a request from Peoples Advantage FCU to expand its community charter to cover 1.2 million people in metropolitan Richmond, Va.

AUSTIN, Texas -- A+ FCU has introduced three new registry accounts to simplify gift giving for major life events; myGrad, myWedding and myBaby gift registries, providing a convenient and secure way for friends and family to give monetary gifts to acknowledge someone’s special life event.

Banks don't want to provide a lot of answers to basic financial questions on their websites, preferring customers stop by or call a branch-leaving the door wide open for credit unions to further improve their service over banks.

VERMILLION, S.D.-One small CU here has found success the old-fashioned way-sustained growth by responding to the membership and leveraging a healthy dose of collaboration.

Despite having just over 2,000 members and $14.5 million in assets, Vermillion FCU CEO Janet Mount said she does not feel that her CU faces any sort of plateau beyond which it can't grow.

BILLINGS, Mont. – Altana FCU has partnered with VALIC Financial Advisers Inc. to make various investment and insurance programs available to its membership.

ROCHESTER, Mich. – Michigan State University FCU opened a new branch at the Oakland University student center – known as Oakland University CU – as part of a long-term financial relationship with the college.

HAWTHORNE, Calif. – SkyOne FCU, the $350 million former FAA employees’ credit union, will pick up a Gardenia branch with the merger of $20 million AM FCU.

PETERSBURG, Va. – The NCUA Board is expected to vote next week on a bid by Peoples Advantage FCU to expand its community charter to serve 1.3 million people in metropolitan Richmond.

COLUMBUS, Ohio – State Transportation Employees Credit Union is branching out with a new name and brand, Bridge Credit Union, as it seeks broader markets.

LANCASTER, S.C. – Founders FCU, which has rewarded members with as much as $10 million in year-end bonus dividends in recent years, announced it is converting the annual member payout to a loyalty reward.