Credit unions

Financial institutions say it would require them to overhaul their payments technology, deprive them of revenue and force them to pass added costs on to merchants and consumers.

The Burlington-based institution has extended its charter to provide services to all counties in Vermont.

The White House's latest budget proposal slashes funding for a program that would allow the Small Business Administration to make direct 7(a) loans. Lenders say the idea is still misguided.

The $8.7 billion-asset credit union has cut its charge for overdrafts from $25 to $5, following similar reductions by other financial institutions.

Since the pandemic began, many members of small credit unions have defected to banks that offer better digital products and services. The credit unions are focusing on in-person banking or catering to small businesses and other niches to rebuild their customer base.

On Jun. 30, 2021. Dollars in thousands.

On Jun. 30, 2021. Dollars in thousands.

On Jun. 30, 2021. Dollars in thousands.

Scott Anderson, president and CEO of Zions Bank, was recently elected chair of the American Bankers Association. In an interview, he encouraged Washington to scrutinize tech giants’ moves into financial services but expressed concern about some potential implications of financial agencies’ spotlight on climate change.

The closing date for the Florida credit union’s purchase of Heritage Southeast Bank was pushed into 2022 to allow more time for regulatory approval.