Credit unions

The Bridgewater, N.J.-based credit union promoted Frank Almeida to president and CEO, the final step in process it began when he was hired in 2014.

Intensifying competition from banks could persuade large credit unions — particularly those with more than $1 billion of assets — to join forces in 2021.

The Iowa-based institution hopes the funds can help narrow the racial homeownership gap in the state, which is believed to be among the worst in the nation.

The Minnesota credit union's deal for Brainerd Savings & Loan comes about 11 months after it bought Neighborhood National Bank in Minnesota.

On Sep. 30, 2020. Dollars in thousands.

On Sep. 30, 2020. Dollars in thousands.

On Sep. 30, 2020. Dollars in thousands.

Harper, a Democrat, had long been expected to be promoted to the chairmanship under a Biden administration, but he could face an uphill climb moving his priorities forward.

Under a proposed rule change, credit unions would no longer need to seek pre-approval from the regulator before entering into interest rate swaps, speeding up transactions for some of the industry’s biggest institutions that already hold over 80% of total assets.

A recent agreement with the California Cannabis Industry Association will make it easier for legal cannabis businesses across the state to join the $92 million-asset credit union.