Credit unions

Credit unions are looking for approval to hold digital assets like Bitcoin directly, after a federal regulator clarified they can provide cryptocurrency services to customers by partnering with third parties. 

Unity of Eatonville Federal Credit Union will spend its first year focusing on auto lending and deposit services.

Kit Snyder, who has led Consumers since 1983, will be succeeded by Scott Sylvester, the credit union's chief operations officer.

The acquisition would give Avadian, which is based in Birmingham, two more locations in its home state and increase its assets to approximately $1.2 billion.

The combination of First Service Credit Union and People’s Trust Credit Union would create an institution with over $1.3 billion of assets and more than 98,000 members.

David S. Sprague, who has led Hanscom FCU since 1996, will become a member of the credit union’s board of directors after stepping down as chief executive.

Tonia Niedzialkowski will succeed longtime CEO Bernie McLaughlin, who is set to retire in late January.

The National Credit Union Administration set a lower target for business trips and additional staffing amid concerns stemming from the ongoing impact of the pandemic.

FNB Bank in the hard-hit community of Mayfield lost its headquarters during the catastrophic storms. It and other financial institutions are aiding local residents who are now taking stock of the damage.

More than 180 community development financial institutions and minority depository institutions will receive the federal funds under a pandemic-era program. “It’s a lifesaver,” a credit union CEO said.

Dane County Credit Union and Heartland Credit Union, both in Madison, have long collaborated on local initiatives.

First Commonwealth Federal Credit Union will gain its first locations in the Garden State by combining with Baker Federal Credit Union.

Allan Kemp McMorris was previously CEO of Oakland County Credit Union. He joined Vibe when the two organizations merged in 2019.

The National Association of Federally-Insured Credit Unions' new campaign highlights $243 billion in fines slapped on Wall Street banks. The group says it's responding to political attacks, but the banking industry says NAFCU is trying to distract from criticism of its tax exemption.

On Sep. 30, 2021. Dollars in thousands.

On Sep. 30, 2021. Dollars in thousands.

The combined institution would have more than $280 million of assets and serve close to 20,000 members.

Business and regulatory pressures were already weighing on aging executives before the onset of the pandemic led many to delay retirement plans. Now as the crisis eases, an increasing number are finally stepping down.

Stephanie Sherrodd, who was most recently CEO of Texas Dow Employees Credit Union, will take the helm of the New Mexico credit union in January.

Cornerstone Community Financial Credit Union in Auburn Hills received approval from state regulators to enter new markets in its home state and in Ohio.