Credit unions

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.

The state of Colorado has reached a $4 million settlement with Canvas Credit Union and Bellco Credit Union after the companies were accused of failing to pay refunds of guaranteed automobile protection fees due to borrowers.

Rising deposit costs and the likelihood of a slowdown in loan growth could stifle earnings, credit union executives say.

The Inclusiv Network and the National Association of Latino Credit Unions and Professionals opened the Juntos Avanzamos-NLCUP regional chapter in California last month. It's the first part of a campaign to address financial inclusion on a local level.

Community banks and credit unions have pooled their resources and ideas to develop a bilingual challenger bank, banking-as-a-service playbook, cheaper alternative to Zelle and other innovations.

Steve Kenny, who has been with the institution for more than 35 years and at the helm for roughly 13 years, stepped down from his leadership roles on Jan. 9.

The San Antonio-based organization said Don Ford is now president and will become after Lynn Kincaid retires in May.

Kevin Cole was appointed president of the $672 million-asset organization in 2021, and took on the role of chief executive after longtime leader Bill Anderson retired last year.

Frank Zampella, the chairman of the $526 million-asset credit union, will serve as interim CEO now that Tom Graves has retired.