Credit unions

The addition of one new prohibition order from the National Credit Union Administration brings the year's total to 25.

The National Credit Union Administration has given its first guidance on handling Bitcoin and other digital assets in an effort to encourage credit unions to work with fintechs to offer new services.

Barry Nelson will step down as the president and CEO in April.

The combined entity would operate under the Genisys name and hold roughly $4 billion of assets.

The $50 million subordinated debt issuance is large for a credit union and likely the first of its kind to receive an investment-grade rating. It comes days before a National Credit Union Administration rule will take effect to enable a wider range of credit unions to raise capital through debt offerings.

The credit union is looking for its next leader after longtime CEO Bill Lawton announced he will retire this summer.

The new state law, signed by the governor Wednesday and backed by the financial services industry, is intended to make notary services more accessible for older people, those with disabilities and residents of rural areas.

Before joining TAPCO, Justin Martin was executive vice president and chief operating officer at Verity Credit Union.

The trade group chose Brian Knight to succeed longtime leader Lucy Ito, who announced her retirement earlier this year.

There are more than 20,000 Holocaust survivors in the New York City area, and roughly a third of them are said to live in poverty. New York-chartered financial institutions should voluntarily waive transfer and processing charges on payments to reparations recipients, the state’s financial services regulator says.

These executives are adapting to changing customer demands amid rebounding M&A and coronavirus-related challenges.

Credit unions are looking for approval to hold digital assets like Bitcoin directly, after a federal regulator clarified they can provide cryptocurrency services to customers by partnering with third parties. 

Unity of Eatonville Federal Credit Union will spend its first year focusing on auto lending and deposit services.

Kit Snyder, who has led Consumers since 1983, will be succeeded by Scott Sylvester, the credit union's chief operations officer.

The acquisition would give Avadian, which is based in Birmingham, two more locations in its home state and increase its assets to approximately $1.2 billion.

The combination of First Service Credit Union and People’s Trust Credit Union would create an institution with over $1.3 billion of assets and more than 98,000 members.

David S. Sprague, who has led Hanscom FCU since 1996, will become a member of the credit union’s board of directors after stepping down as chief executive.

Tonia Niedzialkowski will succeed longtime CEO Bernie McLaughlin, who is set to retire in late January.

The National Credit Union Administration set a lower target for business trips and additional staffing amid concerns stemming from the ongoing impact of the pandemic.

FNB Bank in the hard-hit community of Mayfield lost its headquarters during the catastrophic storms. It and other financial institutions are aiding local residents who are now taking stock of the damage.