Credit unions

The commissioner of the Tennessee Department of Financial Institutions said Orion Federal Credit Union's deal for Financial Federal Bank violates the Tennessee Banking Act.

The new omicron strain is prompting more financial institutions to extend mask mandates in the workplace and remote work schedules.

As its first major gift, Truliant contributed to the Winston-Salem State University Foundation to support the Mathematics and Science Education Network program.

The addition of two new prohibitions raises the total number of issuances by the National Credit Union Administration to 24 for the year so far.

To distinguish itself from the Chicago-based credit union of the same name, Alliant Credit Union in Dubuque is becoming AIM Credit Union. It was founded as Interstate Credit Union in 1933.

Scott Earl will step down from his leadership role at the trade group at the end of June.

The credit union has promoted Timothy Mislansky to lead the organization. He succeeds Doug Fecher, who announced his retirement earlier this year.

College athletes can now profit from their name, image and likeness, and some local lenders have been quick to sign them on as spokespeople. But it's still unclear whether these young sports figures will raise the financial institutions' profile enough to justify the cost.

Debbie Guiney, who joined the institution in 1977, will step down at the end of this year.

Dustin Cuttriss will succeed Kevin Willour, who is retiring at the end of 2022.

Alliant Credit Union in Chicago is building a database of Consumer Financial Protection Bureau enforcement actions to analyze patterns over time and help it formulate a compliance program that will withstand political swings in Washington.

John “Bernie” Winne has led the credit union for 20 years. He is stepping down at the end of June 30.

SAFE Credit Union in Folsom, California, will promote its chief credit officer, Faye Nabhani, to president on Jan. 1 and then CEO a year later. She will be the institution's first female leader in its 80-year history.

John Cassidy will retire as CEO of Sierra Central Credit Union in Yuba City in January. Ron Sweeney, the company’s president, will take his place.

The National Credit Union Administration backed off measures that would have let credit unions sign up members in areas where they have ATMs and online services, but no branches. The move was seen as a partial victory for banks, though the matter could ultimately be decided by Congress.

The combination of Horizon Credit Union in Washington and Embark Credit Union in Montana would have $1.8 billion of assets and 31 branches in four states.

Tina Dix, the chief executive of OUR Credit Union in Royal Oak, will step aside in July. The $365 million-asset credit union has retained a search firm to find her successor.

Mainstream lenders have long been reluctant to make short-term consumer loans because the costs involved make them expensive for borrowers. Upstart says its technology will enable partner banks to offer loans at annual percentage rates below 36%.

Bob Gallman has worked in the credit union industry for more than 45 years and has been at the helm of the league since 2017.

The expectation that people will want social distancing and ever-expanding digital banking options well after the pandemic passes is informing branch architecture at banks and credit unions.