Credit unions

Key legislation to protect banks and credit unions serving the legal marijuana industry looks set to move forward in the House this week.

Calvin Philips led the credit union – which today operates as Neighborhood CU – from 1958 until he retired in 1988, and remained active on its board long after his retirement.

Credit unions are warning members that fraudsters are trying to prey on them by asking for data in exchange for appointments that turn out to be bogus.

A report to Congress from the National Credit Union Administration says the regulator has made "steady strides" toward greater diversity in its workforce and operations, but that progress is "just the beginning."

Some institutions for more than a year have reduced or eliminated overdraft and funds transfer fees to help members hard hit by the economic downturn, but it's unclear how much longer they can keep coasting on other sources of noninterest income.

The retirement of the chief executive at Cincinnatio Ohio Police FCU has resulted in a new hire there and at nearby TruPartner Credit Union.

Properly implemented, RPA is capable of improving productivity and reducing costs, but institutions must have a clear understanding about what it takes to improve their odds of success.

Janet Sanders has retired after 13 years at the helm of the $142 million-asset credit union. She is succeeded by the credit union's longtime executive vice president, Shelley Sanders. The two are not related.

Heritage Southeast Bank in Georgia will become the latest community bank to stop paying federal taxes when it merges into VyStar Credit Union later this year. It's time for Congress to investigate this consolidation trend and its impact on taxpayers.

The South Carolina credit union has pivoted to an open-concept model that allows for social distancing, along with a walk-up window to serve members outside the branch if lobby access is restricted for any reason.