Demographics

If you are underbanked you probably have limited access to mainstream financial services normally offered by retail banks. Many fintech startups offer alternative ways to measure credit risk, and assert that their products can help extend financial services to consumers who have not been well-served by traditional banks.

The San Francisco company has faced financing challenges as its customers, largely lower-income Latinos, have struggled to keep up with monthly payments.

New guidance from the Consumer Financial Protection Bureau shows how companies that offer workers early access to their wages can avoid being regulated as lenders. But the incoming Biden administration could add new complications.

The multifamily lender named Michael Levine as board chairman, succeeding Dominick Ciampa, who held the role for 10 years. The move comes less than a week after longtime CEO Joseph Ficalora abruptly retired and was replaced by Thomas Cangemi.

John Lund joined the Utah-based credit union as a courier in 1975 and was named CEO in 2012. His successor has spent more than three decades there.

The Mechanicsburg, Pa.-based institution's newest chief executive most recently served as an executive at another Harrisburg-area credit union.

Challenger banks aimed at Blacks, Hispanics, immigrants and other underserved groups are offering financial education and support for charities in addition to basic banking services.

Jay Neathery has taken over for Chris McCreary, who stepped down as president of the institution but is staying on as executive vice president.

Neil Gordon, a former executive at nearby Millbury Federal Credit Union, will take the helm next month.

This oldest consumers in this next group are approaching their mid-20s, so financial institutions must tweak their marketing if they hope to reach them in an meaningful way.

In 25 years at the helm, Brian Hall helped the Southern California credit union grow from $48 million of assets to nearly $600 million.

President and Chief Operating Officer Kevin Blair will take the helm in April at the company’s annual meeting while Kessel Stelling will transition to a new role as executive chairman.

Tonia Clark will leave Las Colinas FCU to take the helm of $116 million-asset Allied.

Kelly Schrader will leave the Vancouver, Wash.-based institution on Jan. 1, and Eric Petracca will take over as president and CEO.

Matt Mamer will take over for Mark Spenny, who has helped Citizens Equity First Credit Union expand in several markets during his tenure.

The $62.7 million merger of Linkbancorp and Gratz Bank would create a company with over $800 million of assets and nine branches stretching from Harrisburg to the Philadelphia suburbs.

Ayn Talley will step down in January, to be succeeded by the credit union's longtime executive vice president.

Anna Lo, a former NCUA examiner who previously led Pacific Transportation FCU, will take the helm next month, following the retirement of longtime CEO Lourdes Cortez.

The process will see the state's largest credit union split its president and CEO roles until longtime chief executive John Reed retires in January 2023.

Casey Klein will begin leading the Montana-based institution next month after current CEO Darla Card retires.