Rising interest rates are forcing credit unions to pay more for deposits while they are sitting on low-yielding loans, according to the National Credit Union Administration's eastern regional director, John Kutchey.

Affinity Federal Credit Union in Basking Ridge said Kevin Brauer will succeed John Fenton as president and chief executive on Jan. 1.

Truliant Federal Credit Union plans to build three more locations in the northwest corner of South Carolina by the end of next year. The $4 billion-asset credit union also recently opened a regional office in Greenville, South Carolina.

Even the most passionate workers may need a more flexible schedule, a hybrid office or unique training. Credit unions that want to hire and retain those people need to not only meet those needs, but also know when to help them move on to a new employer, experts say.

Telhio promoted Derrick Bailey to be its next president and said he'll eventually be CEO, though it did not say when he would succeed Leslie Bumgarner at the helm.

Steve Brewer, who has been with the credit union for roughly 20 years as its chief financial officer, will take the helm on Nov. 1.

Collins Community Credit Union in Cedar Rapids, Iowa, said Monday that it laid off 38 employees, primarily in its mortgage lending division. In September, GreenState Credit Union in North Liberty, Iowa, cut 42 employees, or about 5% of its workforce.

Nickels, which works with the credit union service organization Reseda Group, is using its $4 million seed funding to give financial institutions more visibility into consumers' debts.

The San Jose, California-based credit union completed its first out-of-state expansion with a virtual branch in Idaho's tech hub, to be followed soon by a brick-and-mortar location.

Linh Dang will step into the president and chief executive roles at floridacentral Credit Union on Nov. 1.

Overdue loans for U.S. credit unions hit 0.42% in June — the lowest level in the industry's history. But some warn of deteriorating credit quality as the economy sours.

The National Credit Union Administration's proposal increases spending by 8.1% from 2022, which agency officials say is still an improvement from the previously approved 12.3% hike.

David Deborde has been named president and chief executive, taking over for his mother, Cheryl, who is retiring.

Neil Ray Sommers, who was 74, was succeeded by Bret Fisher, Achieve's director of operations the past three years.

Local Government Federal Credit Union in Raleigh, North Carolina, has relied on State Employees' Credit Union's guidance — and branch network — since the smaller institution's inception in 1983. But that relationship was never supposed to be permanent.

Even legal dispensaries can be risky business partners, so Southern Chautauqua Federal Credit Union is working with Green Check Verified to make sure everything is above board. "Just because somebody has a license from the state, they can't show up with a duffel bag full of cash like Scarface and say let's do business together," Green Check CEO Kevin Hart said.

The $1.1 billion-asset credit union — now known as Skyla Credit Union — changed its name to reflect an August 2021 merger with the neighboring Premier Federal Credit Union.

The National Credit Union Administration took charge of O.F. Toalston Federal Credit Union and Mingo County Education Federal Credit Union over concerns of unsafe and unsound business practices.

The Hauppauge, New York, institution plans to take advantage of its open charter that allows anyone in the U.S. to join after several years of building out its infrastructure to support a national business. Bankers decried the move as further overreach by the credit union industry.

Centric named Rodney Parker as its new CEO. He succeeds Chris Craighead, who retired after 30 years as the credit union's leader.