Credit unions

VyStar Credit Union in Jacksonville has been certified as a community development financial institution.

Joseph L. McGee, who has run the credit union for more than 20 years, will step down in March. Glenn Bryan, chief operating officer, has been named his successor.

It has also taken a stake in Rêv Worldwide, developer of the bank's cross-border traveler account that supports currencies including the U.S. dollar, the euro and the Mexican peso.

Steve Bouras, who joined the credit union in 2016 as its vice president, took over for retiring CEO Brad Johnson.

Brian Knight of the National Association of State Credit Union Supervisors will prioritize collaboration with the National Credit Union Administration in his efforts to help state-chartered institutions stay competitive with federally chartered credit unions as well as community banks and fintechs.

South Carolina Federal Credit Union and G.H.S. Federal Credit Union plan to combine into an institution with roughly $3 billion of assets and more than 176,000 members.

Darrick Weeks takes over from Tom Knothe, who has been interim chief executive since June 2021.

Matt Stephenson, who has worked at Rogue since 2004, will succeed Gene Pelham, who is retiring at the end of March.

Some community banks and credit unions worry that by hiring out-of-state workers to fill their many job openings, as other employers have done, they could erode community ties.

The National Credit Union Administration has invited feedback from executives after exams, given them a freer hand to partner with cryptocurrency firms and made it easier to start new credit unions, Kyle Hauptman says in touting the agency’s efforts to modernize itself.