Credit unions

Shane Berger, who has been at the helm of Beehive for nearly 37 years, will hand over his responsibilities to Craig Gummow on Jan. 4.

Combined, the two would have over $11 billion of assets and nearly 80 branches serving members of the armed forces across five states and in Italy.

After extending its deadline for request for comment on cryptocurrency by a month, the National Credit Union Administration heard from credit unions and other organizations that want clarity on the boundaries the agency plans to set.

The Tampa, Florida-based credit union stuck to its roots in the railroad industry to select its new name.

By partnering with the London-based fintech, Andrews Federal Credit Union will enable members to send transfers to 80 countries.

Laurie Butz, a senior vice president at another Wisconsin credit union, will replace longtime CEO Tom Young, who is retiring.

The credit union is working with CUSO Financial Services, a unit of Atria Wealth Solutions, to add secure document uploading and other features to its website.

Through these partnerships, lenders can diversify their portfolios and even help members recoup their investment by selling or gaining credits for excess energy.

David Pickney, who joined the institution in 2010, saw Texas Trust grow from six branches to 22 and more than double its assets to $1.7 billion.

The Iowa credit union's deal for Home Savings Bank in Madison, Wisconsin, is the 11th this year to feature a credit union buying a bank.

By limiting the credit offered to new borrowers during the pandemic, banks created an opening for installment lenders like Affirm, Afterpay and Klarna.

The National Credit Union Administration issued two prohibition orders and two notices of prohibition, bringing the yearly total to 20.

The $63 million-asset Texas Federal Credit Union in Dallas is combining with the $1.6 billion-asset Texas Trust Credit Union in nearby Arlington.

Dora Financial aims to reduce racial and economic disparities in access to banking.

Kenneth Orgeron, who was appointed acting president and chief executive after the recent departure of Jim Hayes, will remain at the helm of the Maryland credit union.

Failures and forced consolidation among smaller institutions could accelerate in 2022 and 2023 once the federal stimulus programs that have propped up the economy run their course, experts predict.

Billions in funds earmarked for credit unions under the Treasury’s Emergency Capital Investment Program and other federal programs couldn’t be used to meet risk-based capital requirements without the proposed change.

With an estimated $28.6 million in excess funding for 2021, the regulator chose to direct a portion of that sum to hiring and cyber protections.

SPIRE Credit Union and Midland Co-op Credit Union both began as Twin City Oil Co-ops Credit Union, but separated in 1940 at the recommendation of regulators.

Shelly Brown, who was most recently the credit union’s senior vice president of operations, was tapped to lead the institution.