Credit unions

A pending deal between two sizable institutions in Minnesota could mark the end of a dealmaking drought, experts say.

In July's roundup of American Banker's favorite stories: A Zelle outage at JPMorgan Chase could cause headaches for other banks, talking points for understanding FedNow, the Elkhart, Kansas-based Heartland Tri-State Bank is shuttered by the Federal Deposit Insurance Corp. and more.

Oregon Community Credit Union in Eugene is seeing employee productivity and satisfaction increase, but is still wary of declaring the program a success.

A hefty advertising budget combined with a worldwide pool of potential members has now pushed Navy FCU beyond the 13 million-member mark, substantially larger than its nearest competitors.

Valarie Ivester, assistant vice president of indirect strategy and development for Greater Texas Credit Union, has helped update strategy from the start of the pandemic through the recent chip shortage.

One security researcher said the total number of consumers who had data stolen in MoveIt breaches exceeds 20 million, and more are expected to be reported.

The National Labor Relations Board has found that the Wisconsin-based insurance provider withheld certain employment information during the collective bargaining process. The company and its workers' union have been locked in contentious contract negotiations.

Michigan State University Federal Credit Union will open five branches in the Windy City to serve the more than 10,000 members and potential members living there. This marks the first time that the institution has expanded beyond its home state.

The National Credit Union Administration voted unanimously to make it easier for boards of directors to ban problematic members.

While credit unions are being cautious with this lending line, some see opportunities to grow their commercial books amid setbacks at big-name banks such as Wells Fargo.

In the wake of the decisions to roll back affirmative action provisions within college admissions, many executives are looking for ways to continue championing diversity, equity and inclusion.

Visa wants to expand in-car payments tech; Citizens Financial installs president to oversee growing California market; undergrads win banking competition and more in the weekly banking news roundup.

The average credit union member had saved $286 less in March compared to a year earlier. That was the largest per-member drop in credit union history, fueled by rising costs of living and more aggressive competition.

The Supreme Court's ruling on affirmative action in higher education has opened the door to challenges of diversity initiatives in the financial services sector, legal experts say. Internship programs for minority students could face scrutiny, as could efforts to increase workforce diversity.

Deborah Donnelly, senior program manager of talent and performance at BECU in Washington state, has prioritized training the next generation of professionals in each position she's held.

Leigh Brady recently took over as chief executive of SECU, the second-largest credit union in the U.S. Don't look for any mergers under her leadership, Brady said, but she will focus on branch expansion and improving SECU's use of technology.

The $4 billion-asset United Federal Credit Union partnered with the Nevada Housing Division to offer first-time homebuyers access to down-payment assistance.

Twenty lenders from across the country are participating in Underwriting for Racial Justice, a collaborative effort to develop new criteria that will enable marginalized borrowers to gain access to credit.