Credit unions

Wall Street gets an automated nonfungible tokens machine, credit union arrivals and departures, and more in banking news this week.

The $1.6 billion-asset institution says it has simply outgrown its old moniker.

Cheryl DeBoer will step down in early 2023 as president and CEO of the $2.7 billion-asset credit union, which has not yet named a successor.

Municipal Credit Union was first placed into the custody of the National Credit Union Administration in 2019, after its former chief executive was charged with fraud and embezzlement.

New England Federal Credit Union, the largest financial institution headquartered in the Green Mountain State, is combining with Vermont State Employees Credit Union to create an organization with $3 billion of assets.

Community lenders may choose to stop serving small businesses rather than absorb the expense of collecting information on race and ethnicity under a proposal by the Consumer Financial Protection Bureau.

The credit union, founded in 1964 as the Conservative Baptist Credit Union, has changed its name to improve its appeal to prospective members.

Karen Church, who became chief executive in 1993, will step down on Feb. 25.

In the year's first instance of a credit union buying a bank, Georgia’s Own Credit Union in Atlanta has agreed to acquire nearby Vinings Bank. The Peach State is home to more than 300 banks, making it ripe for such deals.

The purchase of Vinings Bank in Smyrna, Georgia, is the year's first instance of a credit union buying a bank. There were 13 such acquisitions announced last year.