Practice management

Jim Lumpkin, president and CEO of the Portland, Ore.-based institution, is planning to retire in the first quarter of 2020.

The $10 million-asset institution struggled with profitability, posting a loss of more than $12,000 during Q1.

Charles Friederichs, already serving in an interim capacity, has been appointed permanent CEO of the $1.1 billion-asset institution.

As more credit unions deploy mobile video banking, some observers say if credit unions don’t hop on board now they could be left behind in the next few years.

CUs in the Keystone State saw loan balances rise by 8.5%, while membership rose more than 3.3% to top 4.2 million.

Studies show that consumers trust posts from an organization’s employees more than the brand itself, and that could be key to using social media as a growth engine for credit unions.

A growing number of credit unions are moving their headquarters to revitalized urban areas, and while some say that could help recruit new staff, it also carries the risk of being associated with gentrification.

Ribbon-cuttings for de novos have become more common as regulators have warmed up to the idea of granting new charters. These are the banks that have opened this year, along with more that are on track to do so.

The Honolulu-based institution has doubled its loan portfolio over the past five years as its commercial lending has increased.

From helping young scholars to safely disposing of personal documents, innovative product announcements and more, here are a variety of ways credit unions are making a difference in their communities.

The Tucker, Ga.-based institution said the new name reflected its ties to electric cooperatives while affirming its commitment to member service.

Cynde Jones, who served as an executive vice president for more than a decade, has taken over following longtime CEO Chuck Rutan's retirement.

These programs are allowed in a majority of states, but only a small portion of credit unions offer them. That may change as the need for deposits grows and consumer expectations shift.

Credit unions raised money for a variety of causes, including assisting homeless veterans, breast cancer awareness and the United Way.

Executive searches are hard enough, but a shortage of qualified candidates with strong resumes will make filling those jobs that much more challenging.

AI-focused venture fund Radical Ventures is the lead investor in a $31.5 million Series B round in Sensibill, which boosts it overall financing to $46.5 million. National Bank of Canada is also part of the investment round.

The trade group waited until after the 2018 midterms to launch the awareness campaign, but CEO Jim Nussle says that strategy won’t be repeated next year.

The organization is looking to raise $100,000, which will be used to support in credit unions abroad in the wake of a natural disaster.

Only one CU in West Virginia wants to enter the pot banking space, but they're going against the grain not just of the state's credit union league but an industry where fewer than 1% of institutions are serving that market.

Shares in the U.K.-based small-business lender fell 29% Tuesday after it sought to recalibrate expectations about its growth trajectory. So far, the company has pulled back lending more in the U.S. than in its other markets.