Credit unions

The North Carolina-based credit union appointed a new chief financial officer and a new president to its for-profit arm.

John Zmolek has been involved with the Seattle-based institution for more than three decades. A successor has not yet been named.

Some in the industry are beefing up online educational offerings and enlisting social media ambassadors on college campuses to help recruit younger consumers.

New data from the state regulator shows gains across several key metrics even as allowances for loan losses surged and the loan-to-savings ratio fell by more than 10 points.

The sale has revived a long-running feud between former chairmen Mark McWatters and Rodney Hood, who tweeted, "Credit unions deserve better stewardship of agency resources.”

A severe cold snap in the state has tested financial institutions unaccustomed to such weather-related disruption.

Joseph Lajoie has succeeded Pamela Mello, who stepped down last month after more than five years in charge.

Todd Harper, chairman of the National Credit Union Administration, said new assessments are likely needed because of an influx of deposits, but industry groups and other board members say the agency should wait to see if the reserve ratio recovers on its own.

The Madison, Wis.-based credit union will donate $1.5 million to a pair of United Way chapters in the region which will help distribute the funds to organizations serving communities of color.

The longtime leader joined State Employees' Credit Union, the second-largest CU in the nation, in 1975 and was named CEO in 2016.