Credit unions

At an American Bankers Association convention Monday, Rep. Claudia Tenney highlighted the need for transparency in the regulatory disparities between banks and credit unions.

The credit union has been using Upstart's AI-based loan decision model to help creditworthy consumers consolidate their credit card debt.

Y-12 Federal Credit Union in Oak Ridge, Tennessee, said it would acquire First State Bank of the Southeast in Middlesboro, Kentucky. It was the 19th such deal announced this year.

Citadel Federal Credit Union's $6.5 million deal with the Justice Department settles allegations of discriminatory lending around Philadelphia. It was the DOJ's first-ever redlining order against a credit union.

The top five credit unions have combined real estate loans and lines of credit of more than $217 million as of June 30.

The $3.4 billion-asset organization based in Phoenix said it would acquire 1st Bank Yuma in the record-setting 17th deal of 2024 involving a credit union buying a bank.

The top five credit unions on this list have more than $36 billion in unsecured card loans and lines of credit.

The top five credit unions have combined first mortgage loans and lines of credit of more than $104 billion as of June 30.

Digital Federal Credit Union and First Tech Federal Credit Union, among the largest in the country, originated from technology companies.

Democratic Gov. Gavin Newsom signed measures designed to bolster consumer protection rules. The bills target several issues that have also been percolating at the federal level.

ESL Federal Credit Union's plan to acquire Generations Bancorp marks the 16th deal this year in which a credit union plans to acquire a bank. While controversial, such transactions are swelling in number.

Overdraft fees continue to be in the spotlight, with the Consumer Financial Protection Bureau proposing a rule essentially to cap them. Certain credit unions are also now required to disclose additional information on this revenue stream.

St. Mary's Bank in New Hampshire tries to serve members as it has for 116 years, while dealing with today's cybersecurity and fraud concerns.

As member demand for installment payments increases, resource-strapped institutions are looking for outside help. Fintechs offer the service.

American Banker's Most Powerful Women in Credit Unions celebrates the senior executives guiding the future of the credit union industry, while also examining issues of mentorship and inclusion.

Membership requirements, expense and the nonprofit ethos largely keep credit unions from participating in the banking-as-a-service space. But a few, such as North Bay Credit Union in California, have carved out a niche.

REV Federal Credit Union in suburban Charleston, South Carolina, plans to acquire First Neighborhood Bank in West Virginia. It marks the 15th deal this year involving a credit union buying a bank, closing in on 2022's record of 16 deals.

Northwest Federal Credit Union in Herndon, Virginia, will follow FedEx as stadium-name partner for the Washington Commanders, gaining branding rights for which the logistics giant was paying nearly $8 million annually.