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Market Intelligence:
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  • Credit unions
    How one credit union addressed cannabis banking compliance

    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.

    By Frank Gargano
    Data Reporter
    October 13
    Cannabis banking bill gets bipartisan Senate push
  • Credit unions
    Charlotte Metro Federal Credit Union in North Carolina rebrands as Skyla

    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.

    By Frank Gargano
    Data Reporter
    October 12
    North_Carolina_flag
  • Credit unions
    NCUA conserves two West Virginia credit unions

    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.

    By Frank Gargano
    Data Reporter
    October 7
    NCUA HQ
  • Credit unions
    With open charter, Teachers FCU sets sights on Florida and beyond

    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.

    Ken McCarthy Author Image
    By Ken McCarthy
    Reporter
    October 6
    teachers tampa.jpg
  • Credit unions
    Centric Federal Credit Union in Louisiana promotes president to CEO

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

    Ken McCarthy Author Image
    By Ken McCarthy
    Reporter
    October 4
  • Industry News
    Banks, credit unions at various stages of recovery from Ian

    Financial institutions of all sizes — from JPMorgan Chase to SouthState to Fairwinds Credit Union — have reopened many branches, rolled out mobile banking units as well as reemployed pandemic-era digital and loan-forgiveness strategies in parts of Florida and South Carolina devastated by the powerful hurricane.

    By Allissa Kline, Jim Dobbs, Frank Gargano and Polo Rocha
    October 3
    Hurricane Ian in Fort Myers
  • Credit unions
    NCUA liquidates second credit union of 2022

    The National Credit Union Administration shuttered Paducah Teachers Federal Credit Union in Kentucky after it was declared insolvent with no chance for recovery.

    By Frank Gargano
    Data Reporter
    October 3
    NCUA HQ (2)
  • Credit unions
    Discovery Federal Credit Union in Pennsylvania picks new CEO

    Discovery Federal Credit Union in Wyomissing has promoted its chief information officer, Michele Smith, to succeed Edwin Williams as CEO. Smith assumed her new role effective October 1.

    Ken McCarthy Author Image
    By Ken McCarthy
    Reporter
    October 3
  • Credit unions
    Credit union museum gives women leaders a long overdue spotlight

    The America's Credit Union Museum recognized twenty prominent pioneers for their accomplishments and storied careers. It's the first such exhibit in the New Hampshire facility's 20-year history.

    By Frank Gargano
    Data Reporter
    September 30
  • Credit unions
    As banks shutter branches, credit unions continue to build

    U.S. banks closed almost 3,000 more branches than they opened last year, but credit unions' branch count crept up in the second quarter despite consumers' heavier reliance on digital channels for account management.

    Ken McCarthy Author Image
    By Ken McCarthy
    Reporter
    September 29
  • Credit unions
    Dominion Energy Credit Union's CEO to retire in 2023

    Mike Swalley, the longtime president and CEO of the North Chesterfield, Virginia, credit union, will retire next year. An internal search committee has partnered with D. Hilton Associates to find a successor.

    Ken McCarthy Author Image
    By Ken McCarthy
    Reporter
    September 28
  • Credit unions
    Credit unions step up for Puerto Rico in wake of Hurricane Fiona

    With the island still feeling the effects of Hurricane Maria five years earlier, organizations like the Inclusiv Network and the National Credit Union Foundation are providing support to institutions and residents starting to rebuild.

    By Frank Gargano
    Data Reporter
    September 28
    Rushing flood waters running through local streets.
  • Credit unions
    SECU, Affinity FCU to partner with prominent home-state athletic programs

    The University of Maryland program announced a 10-year partnership with SECU in Maryland, and Seton Hall University's program will partner with Affinity Federal Credit Union in New Jersey.

    Ken McCarthy Author Image
    By Ken McCarthy
    Reporter
    September 27
    University of Maryland website
  • Credit unions
    Growing pains: A tale of two New England cannabis bankers

    Vermont State Employees Credit Union is attracting new cannabis clients so rapidly that it had to press the pause button to add staff. Another New England lender, Needham Bank, is building its own pot banking business through acquisition.

    By Ken McCarthy and John Reosti
    September 26
    Flowering cannabis plants
  • Credit unions
    NCUA advances proposed rule on member expulsion

    Federal credit union boards would be able to dismiss a problematic customer in a streamlined process under the National Credit Union Administration's tentative plan.

    By Frank Gargano
    Data Reporter
    September 23
    NCUA HQ
  • Credit unions
    Team One Credit Union in Michigan names next CEO

    The Saginaw credit union named Derrick Barber as its new president and chief executive. Barber will succeed Gerald Hutto, who will be retiring.

    Ken McCarthy Author Image
    By Ken McCarthy
    Reporter
    September 23
  • Credit unions
    Flavorful finance: How banks, credit unions are using food to win business

    From avocado-toast debit cards to pumpkin spice-themed loans, financial institutions are running culinary initiatives to bring consumers to the table.

    By Frank Gargano and Daniel Wolfe
    September 22
    Avocado-Toast-Card-Alliant
  • Credit unions
    Harborstone Credit Union in Washington state names new CEO

    Geoff Bullock will succeed Phil Jones, who is retiring after 15 years of leading Harborstone.

    Ken McCarthy Author Image
    By Ken McCarthy
    Reporter
    September 22
  • Credit unions
    Michigan First Credit Union promotes COO to CEO

    Jennifer Borowy, Michigan First Credit Union's chief operations officer, will take over as chief executive when Michael Poulos, the longtime CEO, retires in October.

    Ken McCarthy Author Image
    By Ken McCarthy
    Reporter
    September 21
  • Credit unions
    NCUA awards second federal charter of 2022

    People Trust Community Federal Credit Union in Arkansas will provide depository services not offered by its sponsoring community development financial institution, the People Trust Community Loan Fund.

    By Frank Gargano
    Data Reporter
    September 20
    NCUA HQ (4)
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23RD ANNUAL THE MOST POWERFUL WOMEN IN BANKING

Meet The Most Powerful Women in Banking 2025, our annual ranking of the executives at the pinnacle of the industry.

ABM1025_Cover.jpg

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