Credit unions

The National Credit Union Administration board voted Thursday to advance a proposed rule that would loosen existing regulations and allow credit unions to purchase member loans from fintechs.

Ryan McIntyre will become president and CEO of Empower Federal Credit Union in Syracuse, New York, on Jan 3. He was most recently chief strategy officer at VyStar Credit Union and worked at Regions Bank for 15 years.

Dort Financial Credit Union in Grand Blanc, Michigan, has agreed to buy Flagler Bank in South Florida. The deal would allow Dort "to better serve our members who spend winters in Florida," its CEO says.

Remote deposit capabilities have vastly improved banking services for residents of villages in western Alaska. But unreliable service means some face difficulties when trying to access their banking apps or make payments.

Employees of a Lake Michigan Credit Union branch say they're fighting to organize after upper management failed to respond to their complaints about pay disparity, COVID-19 benefits and more.

Citing "unsafe and unsound practices," the National Credit Union Administration has temporarily taken charge of Richmond City Employees Federal Credit Union.

The National Credit Union Administration's emergency exemption allowing for remote board and membership meetings at federally chartered institutions is scheduled to lapse at year-end. The agency's chairman recommended hybrid meetings as an option that can satisfy traditional meeting requirements.

Many U.S. companies — including JPMorgan Chase, Morgan Stanley and Apple — have drawn attention for increasing pressure on employees to show up more at the office as COVID-19 concerns ebb. Some credit unions have taken similar steps, while others still insist a hybrid schedule is better for recruitment.

Skyla Credit Union in Charlotte, North Carolina, plans to add 9,600 members and $265 million of assets through its deal with Parsons Federal Credit Union.

Veridian Credit Union's deal for American Investors Bank and Mortgage is the 12th this year in which a credit union would acquire a bank.

Roughly 40,000 residents of Moore County have been left without power since Saturday, when gunfire damaged two substations. Financial institutions are urging residents to use online banking and call centers if they do not have access to a branch.

Susan Whitehead is stepping down after nearly 10 years as the Maine credit union's chief executive. A successor has not been named.

The National Credit Union Administration order says the small credit union must address "supervisory concerns" by conducting certain auditing and fraud reviews and taking other corrective steps.

Small credit unions in Texas, Virginia, South Carolina and Florida have selected new leaders to succeed retiring executives or fill a vacancy.

The Worldwide Foundation for Credit Unions' Fuel Disbursement Program provided more than 160 farmers with roughly 17,000 gallons of pre-paid fuel. Other groups are supplying computers and printers to help the country's domestic credit unions remain operational.

Peach State Federal Credit Union in Lawrenceville, Georgia, is merging with Abbeville Community Federal Credit Union in Abbeville and Pickens Federal Credit Union in Pickens.

Carol Hauck will leave the role in the first quarter of 2023. The Sacramento, California-based company said it hired D. Hilton Associates to conduct a nationwide search for its next leader.

In this month's roundup of American Banker's favorite stories: the National Credit Union Administration sets its focus on liquidity risk for 2023, an exclusive fireside chat with Venus Williams on pay equity, the Consumer Financial Protection Bureau's funding comes into question and more.