Credit unions

The Purchase, New York, credit union named Jeffrey Pachter as its next CEO. He succeeds Bruno Sementilli, who is retiring next year.

Parker will take over for Tim Collia, who steps down after 19 years at the helm of the New Hampshire organization.

The National Credit Union Administration issued three prohibition orders in June, barring those people working for any federally insured financial institution.

Langley Federal Credit Union in Newport News and Virginia Beach Schools Federal Credit Union would serve more than 300,000 members after combining.

The National Credit Union Administration closed the New Jersey credit union after determining it engaged in unsafe and unsound practices.

President and CEO Doug Fecher is leaving after a 20-year tenure.

Ron Collier, who has served as the $2.8 billion-asset credit union’s president and CEO for 18 years, will step down on Dec. 31, 2022.

Credit unions have gotten stronger support from their regulators to do business with pot companies, but banking agencies are showing signs of softening just as more states legalize marijuana.

Elissa LaBorde will become the president and chief executive of the advocacy group this summer.

The National Credit Union Administration will distribute the funds to 1,800 credit unions to resolve the failure of three corporate credit unions in the wake of the financial crisis. It is the third such payment the regulator has made within the past year.

Utah Community Credit Union and state officials as part of an experiment are letting consumers use electronic ID to open accounts and conduct other business. It's easier said than done.

MDI credit unions added about 400,000 members, assets of $10.6 billion and six new credit unions in 2020, according to the National Credit Union Administration.

The approval broadens Excel’s membership to anyone in Gwinnett, Hall, Forsyth and Fulton counties.

The leaders of the largest credit union trade groups are back on the road visiting members, and the organizations are also planning live conferences this year.

The combined company will operate under the Royal name and leadership.

Splash recently raised $44 million from investors. It plans to use the funds to aid small institutions that lack the resources to build their own loan platforms but are flush with deposits and looking for new lending opportunities.

MidUSA Credit Union in Middletown, Ohio, and Heartland Federal Credit Union in Dayton have combined to form MyUSA Credit Union, which will operate nine branches in the Miami Valley and hold roughly $350 million of assets.

The chief financial officer, Doug Fagan, will succeed Sundie Seefried, who is retiring.

Cannabis, though still illegal at the federal level, continues to inch into the financial mainstream. Small credit unions and lenders as large as Valley National and East West have moved beyond just taking deposits from marijuana companies.

Isaac Johnson had been running the organization on an interim basis.