Credit unions

The National Credit Union Administration shuttered Paducah Teachers Federal Credit Union in Kentucky after it was declared insolvent with no chance for recovery.

Discovery Federal Credit Union in Wyomissing has promoted its chief information officer, Michele Smith, to succeed Edwin Williams as CEO. Smith assumed her new role effective October 1.

The America's Credit Union Museum recognized twenty prominent pioneers for their accomplishments and storied careers. It's the first such exhibit in the New Hampshire facility's 20-year history.

In this month's roundup of American Banker's favorite stories: Home appraisers get disillusioned, a couple lives mortgage-free for 13 years, digging into the cracks in credit quality, quantum computing's future in banking, and more.

U.S. banks closed almost 3,000 more branches than they opened last year, but credit unions' branch count crept up in the second quarter despite consumers' heavier reliance on digital channels for account management.

Mike Swalley, the longtime president and CEO of the North Chesterfield, Virginia, credit union, will retire next year. An internal search committee has partnered with D. Hilton Associates to find a successor.

Federal Reserve Gov. Michelle Bowman said a shifting landscape has made it difficult for community banks to compete. She called for bank merger reform to make community bank M&A easier.

With the island still feeling the effects of Hurricane Maria five years earlier, organizations like the Inclusiv Network and the National Credit Union Foundation are providing support to institutions and residents starting to rebuild.

The University of Maryland program announced a 10-year partnership with SECU in Maryland, and Seton Hall University's program will partner with Affinity Federal Credit Union in New Jersey.

Vermont State Employees Credit Union is attracting new cannabis clients so rapidly that it had to press the pause button to add staff. Another New England lender, Needham Bank, is building its own pot banking business through acquisition.