Credit unions

Wall Street gets an automated nonfungible tokens machine, credit union arrivals and departures, and more in banking news this week.

The $1.6 billion-asset institution says it has simply outgrown its old moniker.

Cheryl DeBoer will step down in early 2023 as president and CEO of the $2.7 billion-asset credit union, which has not yet named a successor.

Municipal Credit Union was first placed into the custody of the National Credit Union Administration in 2019, after its former chief executive was charged with fraud and embezzlement.

New England Federal Credit Union, the largest financial institution headquartered in the Green Mountain State, is combining with Vermont State Employees Credit Union to create an organization with $3 billion of assets.

Community lenders may choose to stop serving small businesses rather than absorb the expense of collecting information on race and ethnicity under a proposal by the Consumer Financial Protection Bureau.

The credit union, founded in 1964 as the Conservative Baptist Credit Union, has changed its name to improve its appeal to prospective members.

Karen Church, who became chief executive in 1993, will step down on Feb. 25.

In the year's first instance of a credit union buying a bank, Georgia’s Own Credit Union in Atlanta has agreed to acquire nearby Vinings Bank. The Peach State is home to more than 300 banks, making it ripe for such deals.

The purchase of Vinings Bank in Smyrna, Georgia, is the year's first instance of a credit union buying a bank. There were 13 such acquisitions announced last year.

Super Bowl ads' impact, another overdraft-fees ouster, and more in banking news this week.

The credit union plans to expand its suite of trust and estate services available to members.

The joining of Align Credit Union and Alltrust Credit Union is among the first of several deals in the pipeline where both institutions have more than $250 million of assets, as the ongoing pressures of the COVID-19 pandemic prompt more firms to pair up, experts say. Carmen Sylvester, Alltrust's CEO, will lead the combined organization.

Brian Waldron, who joins from Hudson Valley Federal Credit Union in Poughkeepsie, New York, will succeed Vicki Hawkins, who is retiring.

Employees at Genesee Co-Op Federal Credit Union in New York and Beneficial State Bank in California formed unions in the past year to bargain for better wages and reform their corporate cultures. Will workers at other community institutions follow their lead?

Northern Lights Acquisition, a special-purpose acquisition company, is paying $185 million in cash and stock to purchase Safe Harbor from Partner Colorado Credit Union, which launched the lending unit last year.

People moves, Peter Thiel, AI for bullion sales, fraud sentencing and more in banking news this week.

Unify Financial Credit Union is using a 30-second spot featuring safety Terrell Burgess to highlight the Texas organization's expansion within California.

Hanscom Federal Credit Union in Bedford, Massachusetts, has chosen Peter Rice to succeed David Sprague, who announced his retirement last year.

Lisa Schlehuber, who has led the Indianapolis credit union since her appointment as chief executive in 2005, will step down on April 15.