Credit unions

Collins Community Credit Union in Cedar Rapids, Iowa, said Monday that it laid off 38 employees, primarily in its mortgage lending division. In September, GreenState Credit Union in North Liberty, Iowa, cut 42 employees, or about 5% of its workforce.

Nickels, which works with the credit union service organization Reseda Group, is using its $4 million seed funding to give financial institutions more visibility into consumers' debts.

The San Jose, California-based credit union completed its first out-of-state expansion with a virtual branch in Idaho's tech hub, to be followed soon by a brick-and-mortar location.

U.S. Bank's new M&A closing date, and new rewards card, and more in banking news this week.

Linh Dang will step into the president and chief executive roles at floridacentral Credit Union on Nov. 1.

Overdue loans for U.S. credit unions hit 0.42% in June — the lowest level in the industry's history. But some warn of deteriorating credit quality as the economy sours.

The National Credit Union Administration's proposal increases spending by 8.1% from 2022, which agency officials say is still an improvement from the previously approved 12.3% hike.