Credit unions

VyStar Credit Union in Jacksonville has been certified as a community development financial institution.

Joseph L. McGee, who has run the credit union for more than 20 years, will step down in March. Glenn Bryan, chief operating officer, has been named his successor.

It has also taken a stake in Rêv Worldwide, developer of the bank's cross-border traveler account that supports currencies including the U.S. dollar, the euro and the Mexican peso.

Steve Bouras, who joined the credit union in 2016 as its vice president, took over for retiring CEO Brad Johnson.

Brian Knight of the National Association of State Credit Union Supervisors will prioritize collaboration with the National Credit Union Administration in his efforts to help state-chartered institutions stay competitive with federally chartered credit unions as well as community banks and fintechs.

South Carolina Federal Credit Union and G.H.S. Federal Credit Union plan to combine into an institution with roughly $3 billion of assets and more than 176,000 members.

Darrick Weeks takes over from Tom Knothe, who has been interim chief executive since June 2021.

Matt Stephenson, who has worked at Rogue since 2004, will succeed Gene Pelham, who is retiring at the end of March.

Some community banks and credit unions worry that by hiring out-of-state workers to fill their many job openings, as other employers have done, they could erode community ties.

The National Credit Union Administration has invited feedback from executives after exams, given them a freer hand to partner with cryptocurrency firms and made it easier to start new credit unions, Kyle Hauptman says in touting the agency’s efforts to modernize itself.

Carrie Langgard, who joined the institution in 2014, became president and chief executive on Jan. 1.

The Nebraska Department of Banking and Finance recently denied GreenState Credit Union's deal to acquire Premier Bank in Omaha. The bank said it hopes to get the ruling overturned.

Mike Steimle, who has led the credit union for roughly 22 years, cited a need for "new blood" in the leadership team.

The National Credit Union Administration approved four new credit unions in 2021 — the most in six years — after revamping the application process.

The new name, Navy Federal Investment Services, reflects a wider range of products than the previous handle, Navy Federal Brokerage Services.

Jennifer Ventimiglia, who joined Fortera in 2015, will also become chief executive after Tom Kane retires from this role.

The combination of Community 1st Credit Union in Ottumwa and HomeTown Credit Union in Shenandoah will bring together more than 68,000 members and 21 branches. The merged entity will have over $980 million of assets.

Portsmouth Schools Federal Credit Union hadn't reported a profit in years and its losses through the first three quarters of 2021 exceeded $200,000.

Pomona Postal Federal Credit Union, which the National Credit Union Administration placed into conservatorship in November, has merged with the Credit Union of Southern California.

Branches across the country have closed temporarily, or switched to drive-thru service, as infections and quarantine rules have forced many bank workers to stay home.