Credit unions

The $7.7 billion-asset federal credit union in East Lansing announced its third deal in as many months — the planned purchase of in-market peer Gabriels Community Credit Union. And it has two bank acquisitions pending.

As CEO, Gary Fukuroku has helped turn the Hawaiian-based institution into one of the largest in the state and has raised significant funds to help those affected by this year's wildfires.

Arkansas Federal Credit Union in Little Rock launched a branded calling solution in June through a partnership with First Orion, also based in Little Rock. It has helped reduce declined calls by 21%.

Executives reflecting on the issues that doomed three banks say the closures stressed the importance of adapting quickly to change, and emphasized the advantages of the credit union business model.

American Banker is proud to recognize the honorees for the second annual Most Powerful Women in Credit Unions.

The National Credit Union Administration approved the Young Community Federal Credit Union to begin operations in Kentucky soon. An organization in Maryland is shooting for a 2024 opening.

A.E.A. Federal Credit Union in Yuma said it would acquire West Valley National Bank in a bid to expand into Phoenix and Las Vegas.

Amazon's buy now/pay later partnership with Affirm expands; NAFCU-CUNA merger gets affirmative vote from members; expense-reporting firm Navan rolls out European bank partnerships; and more in the weekly banking news roundup.

A new rule allowing people with long-ago criminal convictions to find employment at credit unions is good for both the industry and for society at large.

Consumer appetites for new loans have slowed in the face of record interest rates, but Sunlight Federal Credit Union's partnership with Avana CUSO helps identify commercial real estate opportunities in markets both local and national.

Achieva Credit Union, which previously bought two community banks, is furthering its growth through the acquisition of an insurance company.

In a pilot it rolled out this year, Nashville-based Vanderbilt Credit Union will lend graduates up to $160,000 if they have a job offer sheet in hand.

In October's roundup of top banking news: Navy Federal's contract with the Department of Defense remains in limbo, check fraud takes a bite out of Regions Financial's third-quarter earnings, a Community Reinvestment Act rule gets finalized and more.

Umpqua Bank introduces retail banking in Utah, Kansas City CUSO ex, Huntington Bank looks within for new chief DEI officer and more in the weekly banking news roundup.

A federal court extended an injunction that halts the Consumer Financial Protection Bureau's rule until the Supreme Court rules on the bureau's constitutionality.

The fintech Greenlight Financial has formed a CUSO to expand access to its family banking app and educational resources after strong interest from credit unions.

The National Credit Union Administration says it cannot provide deposit insurance for accounts covered under the $165 billion-asset institution's agreement to offer financial services to members of the military serving abroad. The credit union accuses the regulator of undermining its mission.

Mergers may be shrinking the overall number of credit unions, but they have provided valuable scale to those that remain.

The "Get My Rate" tool, launched on Sept. 4 in collaboration with SavvyMoney, tells current and prospective members what loan rates they qualify for without adversely affecting their credit scores.

Credit unions are seeing tepid growth at best, due in part to banks using online offerings to win over consumers.