The credit union service organization's newest clients want it to build services such as cross-border payments and simpler bill pay.

Lindy Andry has been Ascentra Credit Union's interim president and CEO since November.

Both credit unions are based in Pittsfield, Massachusetts.

The feature has become popular during the coronavirus pandemic, providing a quick and simple way for credit unions to confirm users' identities as well as promote products and services.

The National Credit Union Administration issued only one prohibition order in April.

Most executives are comfortable crossing over $1 billion of assets, where more frequent exams are the biggest supervisory change. But few are eager to take on the compliance burdens that accompany the jump above $10 billion.

The National Credit Union Administration approved the creation of Maun Federal Credit Union, which will serve members of the state's Islamic community.

The National Association of State Credit Union Supervisors has started a national search to replace President and CEO Lucy Ito.

The state's Department of Financial and Professional Regulation will reduce assessments by 61% this year because of overpayments in 2020, helping state-chartered credit unions deal with economic fallout from the pandemic.

Larissa Thurston, who will also become the Massachusetts credit union's president, will succeed James Garvey, who is retiring.

The SAFE Banking Act would protect credit unions and banks that serve legal marijuana businesses from prosecution, but anti-money-laundering compliance will always be arduous, says Sundie Seefried, the head of a new company that helps credit unions work with cannabis firms.

The legislation, which takes effect in July, follows a 2019 law that modernized the state's credit union statutes.

The Las Vegas-based institution has joined a small group of credit unions whose assets top $1 billion, which make up less than 10% of the total industry.

The popular annual program is back and it has never been easier to participate, but the deadline to register is coming up quickly.

Regulators recently eased field-of-membership rules to promote growth of federal credit unions. A handful of institutions are taking advantage of the changes to recruit more members, but some may find the process too cumbersome.

The agency will hold an exercise this summer related to emerging fraud risks and one board member suggested Congress should once again consider allowing the NCUA to oversee third-party vendors — a measure that would cost the regulator roughly $2 million a year.

Now known as Alltrust Credit Union, the Fairhaven, Mass.-based institution serves more than 14,000 members across New England.

Cal Poly Federal Credit Union's recent merger into SchoolsFirst highlights the difficult choice many small institutions face: diversify your field of membership or risk going out of business.

Burns & McDonnell Credit Union holds just $27 million of assets and is seeking approval to merge into CommunityAmerica, which serves the KC metro region and is the largest credit union in Kansas and Missouri.

Rhonda Diefenderfer, who has led the Billings, Mont., credit unon for 20 years, will retire in May and be succeeded by the credit unions busines vice president of business lending.