Credit unions

United Federal Credit Union plans to enter the state through a merger next year, and that could be a problem for Keystone-state banks and credit unions that are already struggling to grow.

Texas-based RBFCU, the tenth largest credit union in the nation, promoted Mark Sekula from CFO to CEO, replacing Christopher O'Connor, who will retire in March.

Small towns, in which community banks are disappearing, have increasingly little to offer nascent businesses in the way of reliable credit.

The 10 largest credit unions in the nation all saw surges in credit card charge-offs in the third quarter, as a growing number of consumers struggle to make ends meet.

Honorees on this year's list of the Most Powerful Women in credit unions have adopted tools powered by AI to help provide 24/7 support to members in a variety of languages, while also expanding access to vital capital for those from underserved communities.

Whether it's bracing for a hurricane or helping members reduce their environmental impact, many credit unions are making the planet's health a focal point of community engagement.

Experts across the financial services space hold that the White House's new mandates won't bring wholly new rules to the industry, but will hopefully explain what the path forward for governing agencies will look like.

The agency's insistence on churning out new requirements — even as courts question its constitutionality — is harming the very consumers it purports to help.

The $7.7 billion-asset federal credit union in East Lansing announced its third deal in as many months — the planned purchase of in-market peer Gabriels Community Credit Union. And it has two bank acquisitions pending.

As CEO, Gary Fukuroku has helped turn the Hawaiian-based institution into one of the largest in the state and has raised significant funds to help those affected by this year's wildfires.

Arkansas Federal Credit Union in Little Rock launched a branded calling solution in June through a partnership with First Orion, also based in Little Rock. It has helped reduce declined calls by 21%.

Executives reflecting on the issues that doomed three banks say the closures stressed the importance of adapting quickly to change, and emphasized the advantages of the credit union business model.

American Banker is proud to recognize the honorees for the second annual Most Powerful Women in Credit Unions.

The National Credit Union Administration approved the Young Community Federal Credit Union to begin operations in Kentucky soon. An organization in Maryland is shooting for a 2024 opening.

A.E.A. Federal Credit Union in Yuma said it would acquire West Valley National Bank in a bid to expand into Phoenix and Las Vegas.

Amazon's buy now/pay later partnership with Affirm expands; NAFCU-CUNA merger gets affirmative vote from members; expense-reporting firm Navan rolls out European bank partnerships; and more in the weekly banking news roundup.

A new rule allowing people with long-ago criminal convictions to find employment at credit unions is good for both the industry and for society at large.

Consumer appetites for new loans have slowed in the face of record interest rates, but Sunlight Federal Credit Union's partnership with Avana CUSO helps identify commercial real estate opportunities in markets both local and national.

Achieva Credit Union, which previously bought two community banks, is furthering its growth through the acquisition of an insurance company.

In a pilot it rolled out this year, Nashville-based Vanderbilt Credit Union will lend graduates up to $160,000 if they have a job offer sheet in hand.