Credit unions

Village Financial Credit Union expects to begin operations this year after it receives additional capital and a charter. It plans to serve a part of Minneapolis that has no traditional banks or credit unions but is overrun with payday lenders.

The board of directors has hired Kyle Gurzynski to succeed longtime chief executive Patty Preuss, who plans to retire on April 29.

PSCU is working with EnaComm to build web and mobile applications for prepaid cards.

The sale of Wilmac Corp. led the one-branch Wilmac Employees' Credit Union to combine with Belco Community Credit Union.

TruMark has begun the search for its next chief executive after Rick Stipa, who led the credit union for more than 20 years, announced he'll step down.

The combined organization would have more than $3.6 billion of assets and a few dozen branches in Georgia.

Scott Ward succeeds longtime chief executive Gary Williams, who retired at the end of January.

The combination of the Bay Area credit unions creates an institution with nearly 50,000 members.

The coronavirus and economic impediments have made it hard for credit unions to add members in recent years. Yet efforts to adapt to less face-time with customers, rev up auto lending and refine other aspects of their businesses are starting to pay off.

Using its new designation as a community development financial institution, Kitsap plans to offer loans and low-cost mortgages to underserved consumers in its communities, including Native Americans and the elderly.

On Sep. 30, 2021. Dollars in thousands.

On Sep. 30, 2021. Dollars in thousands.

On Sep. 30, 2021. Dollars in thousands.

The National Credit Union Administration's first prohibition order of the year addresses a former vice president of lending at a Virginia credit union who was accused of improperly approving business loans.

Carol Minges, who joined the St. Louis institution in 2008, will step down as chief executive on April 1.

The National Credit Union Administration would require federally chartered institutions to have a plan in place to replace key positions amid concerns over consolidation and the aging of credit union leadership.

There's a lot of pent-up consumer demand for new cars, but credit unions face stiff competition from large banks and online dealerships. Some are stepping up marketing while others are eyeing new loan categories.

Some are eliminating their charges for overdrawn accounts in response to recent reforms by big banks and the consumer-friendly practices of neobank rivals.

The Winston-Salem-based organization, having been certified as a community development financial institution, plans to launch a lending program next year to meet the needs of the underserved consumers.

The credit union was certified as a community development financial institution, furthering its goal of improving the economic status of Tampa Bay-area residents.