Practice and client management

The pandemic has propelled digital banking to the forefront faster than expected and in ways that will have a lasting impact for credit unions.

The outbreak has completely upended whatever expectations the industry had heading into 2020. Here's key areas that have been shaped by the pandemic, some potentially forever.

Banks are beginning to emphasize soft skills to help employees make “human” connections with customers in an environment of reduced face-to-face contact.

The number of credit unions serving as minority depository institutions continues to decline, but those CUs often focus on rural and under-served communities, a priority for NCUA Chairman Rodney Hood.

⁠John Corbett says building scale, lowering costs and strengthening technology offerings have become more critical for banks to stay competitive.

Craig Leonard, who has spent a decade at Harvard University Employees Credit Union, will take the helm in July following longtime CEO Gene Foley's retirement.

Business owners are changing banks at three times normal levels, a trend researchers attribute to their difficulty in obtaining emergency loans. If the forgiveness stage of the Paycheck Protection Program proves arduous, that rate could climb much higher.

The Delaware company said it received $22 million in net proceeds after selling 360,000 class B shares.

Members of Standard Register Federal Credit Union are expected to vote on the proposed merger into Pathways Financial Credit Union in August.

Delmarva Bancshares, which was on the brink of failure during the financial crisis, will be sold to BV Financial for $54 million.

A proposal from the credit union regulator was criticized for being needlessly complex and not requiring enough transparency.

NSWC Federal Credit Union is rolling out a new name in the hopes of boosting membership and dispelling misconceptions about who can join.

A new study shows 60% of adult children whose mother or father are credit union members do not belong to the same institution as their parents.

As governments explore whether to compensate African Americans for centuries of racism, financial institutions need to do their part to redress victims of persistent redlining.

Some of the industry’s biggest institutions intend to keep a significant portion of their staff working from home indefinitely. That’s raising new questions about organizational cultures and how to appropriately utilize credit union facilities.

Executives argue the rollouts will largely focus on new markets and work in tandem with digital banking efforts.

Chuck Shaffer will take the helm in December, becoming the first leader outside of the Hudson family since the bank's formation in 1926.

The Michigan institution's asset base increased substantially in 2019 thanks to a merger but has continued to grow in 2020.

Three corporate credit unions serving more than 70% of the industry have banded together for a new effort following Catalyst Corporate's purchase of Aptys Solutions in late May.