Credit unions

The National Credit Union Administration placed the New Jersey credit union into conservatorship Monday, citing its "unsafe and unsound practices."

Sherry Cornell, who has led the Ashtabula, Ohio, credit union since 2002, is stepping down next month.

Year to date through Mar. 31, 2021. Dollars in thousands.

Year to date through Mar. 31, 2021. Dollars in thousands.

Carrie Hunt, the vice president of government affairs and general counsel of the National Association of Federally-Insured Credit Unions, will become the league's president next month.

The National Credit Union Administration changed course late last year and proposed changes that would in effect give members more time to resolve overdrafts. However, consumer activists and even some credit unions say the proposal falls short.

Charlotte Cash will step down from CommonWealth One Federal Credit Union in Alexandria, Virginia, and Glenna Jarvis plans to leave her position at Missouri Central Credit Union in Lees Summit.

The Springfield, Virginia, credit union named Scott Benson, its chief operating officer, to succeed Lynette Smith as chief executive.

Dean Marchessault will be succeeded by Senior Vice President Howard Brady at the East Hartford, Connecticut, credit union.

In letters to regulators and lawmakers, bankers and their trade groups argued that deals like Vystar Credit Union's proposed acquisition of a small Georgia bank could result in less community development lending and declines in federal tax receipts.