Credit unions

The deal by the $11.8 billion-asset Global (formerly AlaskaUSA) to acquire First Financial Northwest Bank is one of the largest bank deals ever struck by a credit union.

Hudson Valley Credit Union, which has $6.9 billion of assets, is buying Catskill Hudson Bancorp, which has $593 million of assets — more than any bank acquired by a credit union last year.

The country's largest credit union is learning the hard way that failure to assure inclusivity in lending practices is a recipe for both financial and reputational damage.

The Colorado-based institution is overhauling its training procedures by using simulated VR experiences to prepare new member service representatives for their roles without the stress of serving live customers while supervisors watch.

The Federal Reserve would seem to offer a compelling alternative to the bank-backed RTP network, but some credit unions — which typically see bank systems as competitive threats — are making more nuanced choices.

Since first partnering with the digital banking software firm Q2 in 2019, Hoosier Hills Credit Union in Bedford has seen significant growth in new account openings and deposit balances due to stronger payroll processing capabilities.

After announcing a deal to buy the entirety of SunSouth Bank in Dothan last year, All In now plans to take over another bank's branches in Brewton, Clayton, Eufaula, Geneva and Louisville.

Credit unions have announced 11 deals for banks so far in 2023, five short of 2022's total.

America First Credit Union wants to grow 7(a) lending, but its expansion prospects depend on hiring more experienced lenders. That's proved a common challenge for other institutions as the Small Business Administration program continues to grow in popularity.

Tanya Otsuka's confirmation gives the Democrats control of the National Credit Union Administration's board for the first time since 2016. Here's how that will impact its agenda.