Credit unions

The Eugene-based institution joined a small but growing number of credit unions that have raised their entry-level pay in recent years.

A bill updating the commonwealth's credit union act, signed into law on Jan. 12, is said to be the most comprehensive update of the state charter in 30 years.

The agency used a notation vote to advance the final measure, the third time it has used that method in a month.

The credit union announced a $1 million commitment to the New Jersey Education Association spread over 10 years, with the first installment helping expand the group’s Human and Civil Rights Division.

After a slowdown in 2020, inventory shortages and other factors could make the months ahead a grind for many lenders.

The trade group's summer show was expected to be the first major credit union event not to be held exclusively in a virtual format but was cancelled due to the ongoing pandemic.

Chris Hendry has been appointed president and CEO of the Fitchburg, Mass.-based institution, having served the credit union in a volunteer capacity since 2014.

President-elect Joe Biden is scheduled to take the oath of office on Wednesday, but other changes that pertain to credit unions are also happening.

Cosby Davis joins the executive team at North Carolina's third-largest credit union after nearly a decade at nearby Allegacy Federal Credit Union.

Cybersecurity remains a priority along with CARES Act compliance, flexibility for borrowers impacted by the pandemic and more.

In placing the $6.6 million-asset institution in conservatorship, the regulator has taken charge of two credit unions in just the first two weeks of the year.

In a party-line vote, the agency issued a proposal that would redefine a "complex" credit union.

The National Credit Union Administration and the Consumer Financial Protection Bureau will hold strategy sessions and share information tied to consumer protections at institutions with more than $10 billion of assets.

Branch has been with WOCCU for 31 years, the last 10 of them spent as CEO.

The project will deploy $20 million as secondary capital to expand economic relief and financial inclusion, and follows a $1 million project last summer aimed at helping low-income consumers in Rust Belt cities.

The deal is a sign of further consolidation among Twin Cities-area credit unions, following another combination announced in May.

The nation's third-largest credit union saw a huge lending spike in 2020, especially in its mortgage division, while membership grew by 159%, thanks in part to merger activity.

The firm's two founders will now split duties between running the organization and focusing on future growth.

A Democratic majority in Washington may help advance a number of key legislative issues for the industry, such as passage of a national data security standard. However, it could also lead to a renewed focus on consumer protection laws.

Australia Hoover, who started as a call center employee in 1996, succeeds Betsy Mercier, who is retiring after 22 years at the helm.