Credit unions

Carol Hauck will leave the role in the first quarter of 2023. The Sacramento, California-based company said it hired D. Hilton Associates to conduct a nationwide search for its next leader.

In this month's roundup of American Banker's favorite stories: the National Credit Union Administration sets its focus on liquidity risk for 2023, an exclusive fireside chat with Venus Williams on pay equity, the Consumer Financial Protection Bureau's funding comes into question and more.

Tom Smith will step down as president and chief executive in May 2023. Smith joined the credit union in 2008 as chief lending officer.

The Morning Star Federal Credit Union in Montana is expected to begin operations sometime in 2023, according to the National Credit Union Administration.

The $1.1 billion-asset Sikorsky Financial would combine with Bridgeport City Employees Federal Credit Union, which has $32 million of assets.

Pembroke, who had led the association since 2015, died Monday at age 55. Jerry Saalsaa, the organization's senior vice president and chief administrative officer, has been interim CEO since July and will continue in that role.

Despite stiff competition, compounded with confusion surrounding President Biden's loan forgiveness program, credit unions managed to bring their student-loan portfolios back from pandemic lows.

Organizing relief initiatives for Ukraine, launching charities for children's hospitals and growing an institution to more than $4 billion of assets are benchmarks in Foulke's more than 45-year career.

The $683 million-asset credit union opened a loan production office in Enfield dedicated exclusively to mortgage and business lending.

Through lending programs, financial coaching and hiring practices tailored for inclusion, these CEOs provided crucial services to underserved communities.