Credit unions

Fifty-three percent of community bank executives who participated in a recent survey said they’d spurn a takeover offer by a credit union, even if it was the highest bid. The findings underscore the rivalry between the two sectors at a time of rising consolidation.

GreenState Credit Union has announced three bank deals this year. Its CEO says purchasing banks can be easier than merging with rival credit unions, though the state's banking regulator has made it difficult to do so within Iowa.

The National Credit Union Administration has approved Capital Federal Credit Union in Lubbock, Texas, to serve people of color and underserved communities in its state.

The Concord-based credit union has hired Anthony Emerson as its next president and chief executive. He was most recently leader of IC Federal Credit Union in Massachusetts.

Brett Noll was most recently CEO of Securityplus Federal Credit Union in Baltimore.

Both Florida State University Credit Union and Florida Department of Transportation Credit Union are based in Tallahassee.

Through the Excelsior Linked Deposit Program, participating institutions can offer financing to consumers at a recuced interest rate.

The credit union’s agreement to acquire Midwest Community Bank in Illinois follows two other bank deals it announced this year.

Temenos and Mbanq created a platform to offer technology and compliance services to credit unions via application programming interfaces.

Mark Drinnon succeeds Beverly Boling, who retired from the CEO role in September.

On Jun. 30, 2021. Dollars in thousands.

On Jun. 30, 2021. Dollars in thousands.

On Jun. 30, 2021. Dollars in thousands.

The National Credit Union Administration's board made a quick adjustment to its subordinated debt rule after critics warned it could harm lenders that serve minority communities.

The National Credit Union Administration adopted a rule that allows credit union service organizations to offer a wider range of loans over the objections of agency Chairman Todd Harper, who said it risks deposit insurance losses.

The industry generally likes a National Credit Union Administration plan that would count Treasury funds as secondary capital. But it opposes the exclusion of 30-year investments under the the Emergency Capital Investment Program, which credit unions say are essential to revitalizing Black and Hispanic communities.

Finastra, a technology vendor to credit unions and small banks, is adding the Bakkt digital asset app to its platform. This will allow clients' customers to buy, sell and hold digital assets like Bitcoin.

Consumers are saving more and borrowing less, making it harder for credit unions to meet a key ratio that the National Credit Union Administration uses to gauge their financial health.

Shane Berger, who has been at the helm of Beehive for nearly 37 years, will hand over his responsibilities to Craig Gummow on Jan. 4.

Combined, the two would have over $11 billion of assets and nearly 80 branches serving members of the armed forces across five states and in Italy.