Credit unions

Banks scored well in the tax bill out of Ways and Means this week, with wins on S Corps and rural lending, but have so far lost out on credit union taxes and additional burdens on payments competitors.

Questions remain whether Trump can legitimately remove board members from the National Credit Union Administration, and the answers lie in the courts.

The top five credit unions in the ranking had combined assets of more than $326 billion as of Dec. 31.

Three executives at Space City Credit Union in Houston will get a total of $6.75 million if the cooperative's members approve a merger. The 12,000 or so members will split $5 million.

Credit unions' federal tax exemption survived as the House Ways and Means Committee cleared Trump-backed tax cut extensions, but the issue could reemerge as a pay-for in final budget negotiations.

Tentative appointments at the Federal Deposit Insurance Corp. and the Federal Reserve have compliance officers reading the tea leaves for future policy plays.

The 29 companies that made this year's list offered flexible work schedules, generous amounts of paid time off and fun activities to keep employees happy.

A draft spending bill slated for consideration in the House Ways and Means Committee Tuesday maintains the credit union industry's longstanding exemption from most federal taxes, but the issue is far from settled.

The credit union partnered with Bloom Credit to offer members a new way to build their credit score by sharing rent and utility payment data.

Vectra Bank Colorado President Bruce Alexander is retiring after 25 years with the bank; Unilever Federal Credit Union in New Jersey was shut down by NCUA; Vista Bank hired Bob Mahalik in preparation for Texas bank M&A; and more in this week's banking news roundup.

Ex-National Credit Union Administration board member Todd Harper outlined legal, economic and political dangers of recent firings of independent regulators.

Senate Banking Committee ranking member Elizabeth Warren, D-Mass., and House Financial Services Committee ranking member Maxine Waters, D-Calif., urged the National Credit Union Administration's Inspector general to look into President Trump's removal of two board members.

Two Democratic members of the National Credit Union Administration board of directors are suing the Trump administration for wrongful dismissal, a suit that could have implications for the Federal Reserve and Federal Deposit Insurance Corp.

Ranjana Clark is the newest member of Texas Capital Bancshares' board of directors; Minnesota's Wings Credit Union and Colorado's Ent Credit Union are merging; Regions Bank adds Angela Santone to its C-suite; and more in this week's banking news roundup.

Credit unions are continuing to buy community banks, although at a slower pace than in 2024.

The Sunshine State deal comes following a banner year for credit union-bank combinations, despite pushback from community banking advocates.

The National Credit Union Administration insists it can still function with one board member, but legal experts and industry groups say any substantive regulatory actions could face serious challenges.