Credit unions

David Willis, the Oklahoma City credit union’s co-president and chief operations officer, has been selected as Kloiber’s successor and will take the helm on Sept. 1.

Local financial institutions have fewer branches than big banks, and closing even one location makes it harder for them to serve their communities.

Chabot Federal Credit Union is combining with University Credit Union, which was founded on the UCLA campus.

Alabama Credit Union's agreement to buy Security Federal Savings Bank, a small commercial lender, renews lingering questions about whether small banks are prey for tax-advantaged credit unions.

The credit union is using Ameriprise Financial Institutions Group's system to add to the suite of investment services that it offers to members.

Gulf Coast Federal Credit Union has converted to a multiple common bond charter, which has no geographic limits, and is eyeing several potential new markets.

On Mar. 31, 2021. Dollars in thousands.

The regulatory agency issued two new prohibition orders, bringing the yearly total to 10.

Two upstate New York credit unions are combining to create an $8 billion-asset institution, continuing a trend of bigger deals driven by a need to match the scale and technological capability of rival banks.

Paris Chevalier, who will lead the California credit union, comes from University & State Employees Credit Union in San Diego.

On Mar. 31, 2021. Dollars in thousands.

On Mar. 31, 2021. Dollars in thousands.

On Mar. 31, 2021. Dollars in thousands.

The industry wants the National Credit Union Administration to shelve its risk-based capital regime. Instead the agency is proposing to let institutions opt out if they meet a net-worth requirement.

The gap is widening between the $144 billion-asset Navy Federal Credit Union and the rest of the industry. That’s putting pressure on smaller credit unions to bulk up through acquisitions in hopes of remaining relevant.

Blending its existing technology with new authentication measures, the company aims to cut costs for credit unions that don't want to join the bank-run peer-to-peer network.

Financial Plus Credit Union and Wanigas Credit Union both serve autoworkers in the same region, and were both founded in 1952.

The organizations that received charters this year emphasize digital access and remote work, and aim to address the economic disparities highlighted by the pandemic and the nationwide wave of racial justice protests.

Stopera retired in 2019 after 39 years at Capital Communications Federal Credit Union in Albany, New York. In 2003, the credit union founded the CAP COM Cares Foundation, which donated about $4 million and over 30,000 volunteer hours to families in the region.

The Treasury Department is awarding $1.25 billion to 863 community development financial institutions through the Rapid Response Program, which allows banks and credit unions to earmark funds for mortgages and business loans in underserved markets.