Credit unions

Pentagon Federal Credit Union bought its own Cessna, citing safety considerations and the cost of commercial air travel during the pandemic. But the purchase has fueled bankers' criticism of how credit unions use their tax exemption.

On Jun. 30, 2021. Dollars in thousands.

On Jun. 30, 2021. Dollars in thousands.

Excite Credit Union in San Jose, now a community development financial institution, says over 60% of its lending caters to consumers in low-income brackets.

Royal Credit Union is combining with Utilities Credit Union. Royal recently agreed to purchase Lake Area Bank in Lindstrom, Minnesota.

Some are taking extra measures, such as forming panels with minority representation to interview job candidates, to ensure that their recruitment practices don't exclude underrepresented groups.

In the face of widespread power outages and supply shortages, credit unions are doing everything from offering low-interest emergency loans to providing bottled water and hot meals.

The credit union service organization, which changed its name from CU Realty Services in June, has expanded its service area to cater to more homebuyers and help credit unions secure their mortgage pipeline.

The Alexandria, Virginia, organization will change its name next month.

John Faust plans to step down next year, concluding a nearly 30-year tenure as president and CEO of Diamond Credit Union.