Credit unions

Here is a look at the honorees from the smallest asset class of this year's Best Credit Unions to Work For.

Five Star Credit Union and Michigan State University Federal Credit Union announced a combined four bank acquisitions within a few days. They're among 10 credit union agreements to buy banks this year.

Financial institutions in several Southeastern states had braced for impact of the Category 3 hurricane. Bank and credit union executives in Florida and Georgia say their facilities generally weathered the storm but that some communities they serve face substantial recovery efforts.

Southwest Financial Credit Union, which led American Banker's Best Credit Unions to Work For, says employees are taking up to 400 hours more off than before its unlimited PTO policy took effect — but they are happier, and so are the members of the branchless credit union.

In August's roundup of American Banker favorites: The true cause of Heartland Tri-State Bank's failure, increased industrywide frugality among banks, two prominent credit union trade groups announce plans to combine and more.

Innovations Financial Credit Union is purchasing First National Bank Northwest Florida, taking the place of Harvesters Credit Union, which terminated its 2022 deal to acquire the bank.

Michigan State University Federal Credit Union, seeking to add $300 million of assets in Illinois, has agreed to purchase McHenry Savings Bank.

The Alabama-based credit union has agreed to purchase the $215 million-asset OneSouth Bank in Macon; it also purchased Georgia banks in 2014 and 2015.

American Banker's first grouping of the top institutions for 2023 features leaders that are enhancing their offices and surrounding communities through unique volunteer programs, comprehensive benefit packages and more.

The institutions in the second grouping of American Banker's top Credit Unions to Work For demonstrated the importance of a fun work environment, transparent leadership and competitive benefits.