Credit unions

The Treasury Department is awarding $1.25 billion to 863 community development financial institutions through the Rapid Response Program, which allows banks and credit unions to earmark funds for mortgages and business loans in underserved markets.

The Purchase, New York, credit union named Jeffrey Pachter as its next CEO. He succeeds Bruno Sementilli, who is retiring next year.

Parker will take over for Tim Collia, who steps down after 19 years at the helm of the New Hampshire organization.

The National Credit Union Administration issued three prohibition orders in June, barring those people working for any federally insured financial institution.

Langley Federal Credit Union in Newport News and Virginia Beach Schools Federal Credit Union would serve more than 300,000 members after combining.

The National Credit Union Administration closed the New Jersey credit union after determining it engaged in unsafe and unsound practices.

President and CEO Doug Fecher is leaving after a 20-year tenure.

Ron Collier, who has served as the $2.8 billion-asset credit union’s president and CEO for 18 years, will step down on Dec. 31, 2022.

Credit unions have gotten stronger support from their regulators to do business with pot companies, but banking agencies are showing signs of softening just as more states legalize marijuana.

Elissa LaBorde will become the president and chief executive of the advocacy group this summer.