Credit unions

The Federal Reserve Board banned a former relationship banker in Arkansas after he was caught stealing customer funds; Benchmark Federal Credit Union plans to merge with Franklin Mint Federal Credit Union to form a $2.1 billion-asset institution; Robin Vince, CEO of Bank of New York Mellon since 2022, has been elected chairman of the board; and more in this week's banking news roundup.

At a preliminary injunction hearing seeking to determine whether two sidelined appointees are shielded by removal protections, a federal judge pressed both sides on whether the independent credit union agency exercises executive power.

After years of laying the groundwork, Thrivent Financial for Lutherans has converted its credit union into an all-digital bank. Here's a look at the company's strategy.

The payments fintech is partnering with credit unions such as Michigan State Federal Credit Union to offer cash-back rewards on debit transactions using account-to-account payment schemes.

Maryland passes legislation to oversee the earned wage access industry; Truist Financial adds ex-Morgan Stanley Finance Chief Jonathan Pruzan to its board; The Citizens Bank agrees to buy a First Capital Bank branch in North Carolina; and more in this week's banking news roundup.

The top five credit unions had more than $234 billion in loans and leases as of the end of Q4 2024.

The Consumer Financial Protection Bureau's erosion and the second phase of the Capital One merger with Discover are top of mind for bankers going into June.

Citadel Credit Union is joining the small cadre of credit unions active in the Small Business Administration's biggest loan program as it seeks to expand in its small-business-rich footprint.

More than 200 employees are exiting the National Credit Union Administration as the credit union regulator pursues its Trump-era mandate to shrink government and slash operating costs.

The top five credit unions in the ranking had combined deposits of more than $278 billion as of Dec. 31.