Credit unions

Using its new designation as a community development financial institution, Kitsap plans to offer loans and low-cost mortgages to underserved consumers in its communities, including Native Americans and the elderly.

On Sep. 30, 2021. Dollars in thousands.

On Sep. 30, 2021. Dollars in thousands.

On Sep. 30, 2021. Dollars in thousands.

The National Credit Union Administration's first prohibition order of the year addresses a former vice president of lending at a Virginia credit union who was accused of improperly approving business loans.

Carol Minges, who joined the St. Louis institution in 2008, will step down as chief executive on April 1.

The National Credit Union Administration would require federally chartered institutions to have a plan in place to replace key positions amid concerns over consolidation and the aging of credit union leadership.

There's a lot of pent-up consumer demand for new cars, but credit unions face stiff competition from large banks and online dealerships. Some are stepping up marketing while others are eyeing new loan categories.

Some are eliminating their charges for overdrawn accounts in response to recent reforms by big banks and the consumer-friendly practices of neobank rivals.

The Winston-Salem-based organization, having been certified as a community development financial institution, plans to launch a lending program next year to meet the needs of the underserved consumers.

The credit union was certified as a community development financial institution, furthering its goal of improving the economic status of Tampa Bay-area residents.

On Sep. 30, 2021. Dollars in thousands.

On Sep. 30, 2021. Dollars in thousands.

On Sep. 30, 2021. Dollars in thousands.

Mary Madden joined the New York credit union in 1995 and has been its chief executive since 2002.

The Community Bankers Association of Illinois has proposed legislation to discourage credit union-bank mergers by imposing a fee that credit unions would have to pay when they purchase banks. Six Illinois community banks have been sold to credit unions since 2019.

Premier Bank is appealing the Nebraska Department of Banking and Finance's decision to block its sale to GreenState Credit Union.

The Louisiana Credit Union League is nearing the launch of a social network that will allow its constituents to stay in touch even when they can't meet in person, whether due to the pandemic or natural disasters.

J. Kevin Ryan is succeeded by Cameron Minges, who became the credit union's president a year ago.

The economic and political conditions are in place for bank-credit union mergers to blow past last year's total of 13 despite the banking industry's strong opposition to them.