Credit unions

On Sep. 30, 2021. Dollars in thousands.

On Sep. 30, 2021. Dollars in thousands.

On Sep. 30, 2021. Dollars in thousands.

The National Credit Union Administration's first prohibition order of the year addresses a former vice president of lending at a Virginia credit union who was accused of improperly approving business loans.

Carol Minges, who joined the St. Louis institution in 2008, will step down as chief executive on April 1.

The National Credit Union Administration would require federally chartered institutions to have a plan in place to replace key positions amid concerns over consolidation and the aging of credit union leadership.

There's a lot of pent-up consumer demand for new cars, but credit unions face stiff competition from large banks and online dealerships. Some are stepping up marketing while others are eyeing new loan categories.

Some are eliminating their charges for overdrawn accounts in response to recent reforms by big banks and the consumer-friendly practices of neobank rivals.

The Winston-Salem-based organization, having been certified as a community development financial institution, plans to launch a lending program next year to meet the needs of the underserved consumers.

The credit union was certified as a community development financial institution, furthering its goal of improving the economic status of Tampa Bay-area residents.