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.

The National Credit Union Administration voted to raise the asset threshold for credit unions falling under its Office of National Examinations and Supervision to $15 billion, making sure that office remains focused on only the biggest institutions.

Affinity Credit Union in Iowa is taking the tech giant to court over the levies issuers pay to have their cards work in its mobile wallet.

The National Credit Union Administration is considering a rule that would bring its cyber incident reporting framework into alignment with those of other regulators, but would still be more permissive than the 36-hour limit imposed on banks.

To make up for slow growth on their home turf, some credit unions are looking to other states for new members and loans — a move that rankles banks that see such expansion as overreach.

The combination of UniWyo and Reliant Federal would bring together roughly $700 million of assets and 50,000 members.

Until last year, Laurentian Bank of Canada didn't have a mobile app. It shared the task with a credit union-owned vendor that has built a network to help smaller financial institutions work with fintechs.

Apple was accused by Affinity Credit Union of using its market power in the mobile device industry to fend off competition from other payment card issuers and charging them fees to boost its bottom line.

The combined institution would have more than $4 billion of assets and 36 branches across Oregon and Washington.

Chris Conway will step down as president and CEO of Educational Systems Federal Credit Union early next year. He will be replaced by Chief Financial Officer Girado Smith.

Some scrutinize quarterly reports for details that can help better compete against banks. Others are motivated by schadenfreude.

The Polish American Credit Union Support Fund is gathering donations from members to help purchase ambulances and medical supplies, while also securing more stable housing for those fleeing the conflict.