Credit unions

Longtime leader John Young plans to retire at the end of 2021, and the credit union has hired Humanidei to find a replacement.

Lawmakers this week will continue to discuss extending the Paycheck Protection Program, and the National Credit Union Administration is scheduled to hold its monthly board meeting.

The nation's second-largest credit union is thanking all full-time employees for their work since COVID hit. But even as vaccinations ramp up, remote work will be the norm for several more months.

Unify Financial is sponsoring a $300M securitization of prime auto loans. The $3.3 billion-asset institution is only the second CU to sell securities backed by auto loans since the NCUA gave the green light for credit union securitizations nearly four years ago.

Mark Kelly will step down next month as president and CEO of the Oklahoma City-based institution. He will be succeeded by the credit union's executive vice president.

A longtime fixture in the industry, Teresa Freeborn succeeds GWLN founder Susan Mitchell as chair of the group.

There are signs that participation in cardholder loyalty offerings is slipping. Credit unions must reengage members if they hope to retain those accounts.

Juan Fernandez Ceballos will take the helm at the state league following Paul Stull’s retirement this summer.

The social media platform skews toward a more youthful demographic, while credit unions' average member age has been stuck in the late 40s for decades. But even institutions that use it have concerns about security.

Indiana Members CU will expand its reach later this year following completion of a proposed combination with Members Choice FCU.

Konstantina Baker has been appointed to lead the Fort Wayne, Ind.-based institution following the retirement of longtime CEO Gregory Troutner.

The American Bankers Association has requested more time to respond to a proposal that would expand lending authority for credit union service organizations.

The deal to take over the firm's prearranged funeral insurance and final expense business in the U.S. and Canada is worth approximately $1.3 billion, and marks the latest in a string of acquisitions for CUNA Mutual.

Chris Hendry has served on the credit union's board but has spent his career in health care and philanthropy. He said many of his skills are easily transferable, including a focus on marketing and community engagement.

The Virginia-based credit union has appointed Executive Vice President Lisa Lambrecht as a temporary successor to former President and CEO Delbert Lee Morgan, following his move to Pen Air FCU.

The industry saw deposits rise by nearly 20% last year, in part due to economic stimulus measures from the government. More of the same could be coming once President Biden signs the latest stimulus bill into law.

Lending slowed, credit allowances mounted and return on assets as well as other performance ratios weakened, according to year-end figures from the credit union regulator.

The number of credit unions having serious conversations about diversifying their boards is on the rise, according to a new study from CUES, but those efforts are more likely to succeed if targets, education and other factors are in place.

The new leaders include some who succeed retiring chief executives retiring and others stepping in after unexpected departures.

The St. Louis-based institution is the latest in the industry to create an executive-level position focused on diversity, equity and inclusion.