In April's roundup of American Banker's favorite stories: Investigations of PPP fraud ramp up, U.S. Bank responds to concerns regarding capital levels, what happened to the trend of bank purchases and more.

The regulator awarded a federal charter to Generations United Federal Credit Union, which will serve employees and members of the United Church of Christ.

Courtney Fifield replaces Bruce Leighton, who retired from the $252 million-asset institution last year.

Joe Evica, who has been employed with the Wisconsin-based insurance firm since March 2019, was terminated on April 4 for allegedly violating company policies.

The combination of VyStar and 121 Financial Credit Union — both based in Jacksonville, Florida — would have more than $14 billion of assets.

The volume of bank acquisitions — either by credit unions or community banks — has dropped considerably so far in 2023. Experts, including prospective buyers, cite a combination of ongoing regulatory and economic pressures.

Executives and financial strategists are considering derivatives as a hedge against rising interest rates.

The Gardner-based institution hired Mark Hettinger, who worked the past 19 years at First Alliance Credit Union, as its new chief executive.

As more potential buyers began inquiring about the availability of QCash, WSECU decided the time was right to offload the credit union service organization it launched in 2015.

More credit unions are diversifying their investments and accessing federal funding from multiple sources to shore up against risk.