Chuck Albrecht announced his plans to step down in March of 2023, concluding a more than 20-year tenure as president and chief executive.

Elba Arenas takes over from Jim Barbarich, who is planning to retire at the end of next year.

The Consumer Financial Protection Bureau's review of credit card late fees has ignited pushback from industry that supports an expected 9% jump in fees next year pegged to inflation. 

Mark Burgess succeeded James Wileman as president and chief executive of the Anchorage-based credit union this month.

The Credit Card Competition Act of 2022 could threaten revenue credit unions need to manage card payments and provide security, according to trade groups.

The National Credit Union Administration's certification for WeDevelopment Federal Credit Union in Missouri took effect in July.

Membership at the Virginia credit union has grown rapidly in recent years, including an 11% spurt in the first half of this year, thanks to a charter switch, heavy marketing spending and generous deposit rates.

Previously, many credit union CEOs were hired because they worked for the institution’s sponsor. Today the industry has become far more complex, and boards find they have to pay up to recruit candidates who can meet these demands.

In the prohibition order, the National Credit Union Administration said the employee allowed a member to overdraft an account by more than $74,000.

Efforts to recruit millennials and Generation Z include letting cardholders select preferred names and pronouns, offering rewards for gas purchases and providing financial guidance.