Credit unions

Credit unions have individually made progress in making their ranks more diverse and inclusive, but their efforts are starting to bump up against the political discourse over "woke" corporate cultures.

The collapse of the Sam Bankman-Fried's controversial crypto exchange changed consumers' view of digital assets. Credit unions, in turn, pivoted to focus on lower-risk services.

Like banks, credit unions seek growth in deposits, loans and other products. The starting point for many is to get more members in the door, executives say.

AlumniFi, built by Michigan State University Federal Credit Union and Nymbus, has partnered with fintechs to help its college-grad users improve their finances and pay down debt.

TD Bank gets approval to buy a U.S. brokerage, Western Union adds installment payments, and American Express is awarding $1 million in grants to restaurant operators. These stories and more in banking news this week.

Employees at LMCU's Bonita Beach Road location in Florida announced their intent to organize to address claims of being overworked.

The Fort Wayne-based credit union hired David Shadburne to replace Greg Mohr, who is retiring.

Firms under $1 billion of assets that never had a chief risk or credit officer, for example, are creating these roles — and in some cases filling them with executives who were displaced by a merger at their last employer.

Centric Federal Credit Union, which previously covered only Ouachita and Lincoln parishes in north Louisiana, has received regulatory approval to add an additional 26 parishes and counties in its home state and neighboring Arkansas.

Derrick Bailey, the Ohio credit union's president, will become chief executive as expected. He will succeed Leslie Bumgarner, who announced her plans to retire last year, on July 1.