Credit unions

The House of Representatives approved a bill that would amend the Federal Credit Union Act to halve the number of board meetings many credit unions would have to conduct each year.

Greenville, in particular, is attracting financial institutions enticed by its growing population and healthy business climate.

Jason Hall is taking over for Jay Young, who announced his retirement in 2021.

The Austin-based credit union chose its chief strategy officer, Michael Ver Schuur, to be its next president and CEO.

Yolo Federal Credit Union has served only Yolo County, which has 221,000 residents, since 1954. It's now able to reach Sacramento County, which has 1.6 million people.

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The Virginia Beach-based credit union recently launched Chartway Ventures to invest in fintechs and other organizations.

First Central Credit Union in Waco, Texas, agreed to purchase the branch and various assets from the bank, which is refocusing on its Harris and Tyler County markets.

The National Credit Union Administration has held the rate cap for loans issued by federally-chartered institutions in place since 1987, despite recent calls to raise it.

State-chartered credit unions say their fields of membership are too narrowly defined. Rather than convert to federal charters, they are backing a bill that would provide greater reach.

Interest rates, liquidity and credit are among the National Credit Union Administration's top concerns.

The $1.4 billion-asset credit union said John Roemer officially became its new leader Jan. 23.

Caren Gabriel, who joined the credit union in 1985 as a staff attorney and became president and chief executive in 2004, will be succeeded by executive vice president and chief operating officer Matt Jernigan on April 8.

In a state where two-thirds of residents use a credit union, a growing populace translates to even more membership, employment and loan growth with those institutions, according to data from the National Credit Union Administration.

The National Credit Union Administration put Valwood Park Federal Credit Union into its care this month, citing concerns of unsafe and unsound business practices.

Alaska USA Federal Credit Union, the 18th-largest credit union in the country by assets, said the new name better reflects its worldwide member base.

COVID-19 accelerated the adoption of more digital options for helping members. Now more credit unions are hoping that artificial intelligence can help reduce stress on frontline staff.

The $104 million-asset Finex Credit Union in East Hartford plans to partner with the $52 million-asset First Connecticut Credit Union in Wallingford.

Many bank CEOs see the end of work from home coming soon, but other industry leaders are not so sure. Meanwhile, much empty office space lies waiting in limbo.