Practice and client management

Lenders faced sudden high demand in the crisis to support stressed borrowers. One bank details how it built a digital portal swiftly to meet that challenge.

Andrea Thune will take the helm next month, succeeding Jeffrey Fragale, who is retiring.

Now that its deal with Texas Capital has been called off, Independent Bank in McKinney plans to scale back or exit some commercial lines and will seek to duplicate its retail banking successes in Colorado.

The Mechanicsburg, Pa.-based credit union is on the hunt for its next chief executive after Anna May Nauss's announcement that she will retire at the end of 2020.

Lexicon Bank in Las Vegas, whose chairman was a professional gambler, is actively courting poker players to open deposit accounts for their tournament winnings.

Webster Federal Credit Union and Finger Lakes FCU plan to join forces before the end of the year, though the deal still needs approval from regulators and members.

The company has renamed itself Prove and says that the acquisition will allow it to help banks fine-tune their security procedures when serving customers.

The streaming service is taking out a two-year certificate of deposit with Hope Credit Union, which plans to use the funding to provide credit to communities often overlooked by mainstream banking.

From natural disasters to pandemics, the best business-continuity strategy may simply be to ensure you have a strategy.

Dennis Devine, who has held leadership roles at several banks, is taking over immediately at the Chicago-based institution after David Mooney announced his retirement.

The National Credit Union Administration will also discuss the current expected credit losses standard, which trade groups have argued that the industry should be exempt from.

Financial firms should offer debt consolidation and faster payment services to help employees who may be struggling through the coronavirus pandemic.

The Nashville bank had sued Gaylon Lawrence in 2017 over allegations that he was pursuing an illegal takeover, but the two sides announced terms of a settlement.

Credit Union of Texas, based near Dallas, is believed to be one of the first in the industry to debut this perk.

With the coronavirus pandemic intensifying and hopes for a quick economic recovery fading, banks large and small are reducing headcounts, shuttering branches, shedding office space and generally trying to trim expenses wherever they can.

CEO Greg Carmichael says the Cincinnati company has cut expenses but will proceed with branch openings in the Southeast and investments in its commercial loan and mortgage origination platforms to lay the groundwork for post-pandemic growth.

Recruiting directors from a variety of backgrounds is a challenge familiar to many credit unions. A member of one of the nation's largest CUs is calling for that institution to address the problem.

A letter from the National Taxpayers Union requested changes, such as requiring federal credit unions to fill out a certain IRS form for non-profits, before lawmakers considered easing member business lending limits.

See this crisis not as a nail in your corporate coffin but as an opportunity to move your team and members forward, said OBI Creative CEO Mary Ann O'Brien.