Credit unions

On Mar. 31, 2021. Dollars in thousands.

The industry wants the National Credit Union Administration to shelve its risk-based capital regime. Instead the agency is proposing to let institutions opt out if they meet a net-worth requirement.

The gap is widening between the $144 billion-asset Navy Federal Credit Union and the rest of the industry. That’s putting pressure on smaller credit unions to bulk up through acquisitions in hopes of remaining relevant.

Blending its existing technology with new authentication measures, the company aims to cut costs for credit unions that don't want to join the bank-run peer-to-peer network.

Financial Plus Credit Union and Wanigas Credit Union both serve autoworkers in the same region, and were both founded in 1952.

The organizations that received charters this year emphasize digital access and remote work, and aim to address the economic disparities highlighted by the pandemic and the nationwide wave of racial justice protests.

Stopera retired in 2019 after 39 years at Capital Communications Federal Credit Union in Albany, New York. In 2003, the credit union founded the CAP COM Cares Foundation, which donated about $4 million and over 30,000 volunteer hours to families in the region.

The Treasury Department is awarding $1.25 billion to 863 community development financial institutions through the Rapid Response Program, which allows banks and credit unions to earmark funds for mortgages and business loans in underserved markets.

The Purchase, New York, credit union named Jeffrey Pachter as its next CEO. He succeeds Bruno Sementilli, who is retiring next year.

Parker will take over for Tim Collia, who steps down after 19 years at the helm of the New Hampshire organization.