Credit unions

Citing customers’ increased adoption of digital services over the past two years, banks are shrinking their physical presence, while also renovating the locations they keep — but credit unions are bucking the trend.

The Augusta, Maine, credit union has promoted its executive vice president, Stephen Wallace, to succeed H. Tucker Cole, who plans to retire in June.

U.S. credit unions that serve Ukrainian immigrants are coordinating efforts to provide aid in Ukraine while bracing for cyberattacks at home.

Empire Financial Federal Credit Union had been placed into conservatorship by the National Credit Union Administration in May because of “unsafe and unsound practices.” Another credit union has assumed its assets and deposits.

The deal with HBI Employees Credit Union follows two other mergers Spire struck last year that brought it to $1.9 billion of assets.

Here is a rundown of the regulatory, diversity, competitive and other challenges that executives explored at the Credit Union National Association's annual gathering in Washington.

Russia reverberations, a rebranding, a resignation and more in banking news this week.

Credit unions and banks need to ask themselves if they're finding ways to say "yes" to consumers who too often hear "no" from mainstream institutions. Otherwise, they perpetuate a system that excludes the poor and people of color and drive them toward nonbanks, said Pablo DeFilippi of Inclusiv Network and other experts.

The Louisiana-based Barksdale has agreed to purchase HomeBank of Arkansas. It is the fourth deal involving the sale of a bank to a credit union in less than two weeks.

Tricia Szurgot is joining Securityplus from First Commonwealth Federal Credit Union in Pennsylvania.