Practice management

Peach State Federal Credit Union in Lawrenceville, Ga., has acquired RCT Federal Credit Union in Augusta, Ga.

While some institutions find it sensible to appoint chief operating officers to assist the CEO or as part of a succession plan, many others increasingly choose to go without a COO.

On top of running a bank’s day-to-day operations, chief operating officers particularly at smaller banks play the additional role of CEO-in-waiting.

Credit unions continue to make positive gains despite larger economic figures failing to live up to expectations, according to data released today by CUNA Mutual Group and the U.S. Commerce Department.

Parchment, Mich.-based Advia Credit Union is set to complete its acquisition of Janesville, Wis.-based Mid America Bank, and analysts say it could be part of a significant shift within the CU industry.

Portsmouth, N.H.-based Northeast CU and Ocean Communities FCU of Biddeford, Maine, announced a planned merger pending approval from the NCUA, the New Hampshire Banking Department and the membership of both institutions.

Time is running out to submit nominations for Credit Union Journal's 2016 Best Practices Awards. The deadline is Aug. 1.

The former C1 Financial chief, expected to play a critical role at Bank of the Ozarks, resigned just a week after his company's sale. Thanks to a lengthy noncompete, it could take years to determine his next move.

FAA Credit Union announced that it will change its name to True Sky Credit Union.

League seeks to capture untapped markets, raise awareness and increase growth through various tools to assist member CUs.

Overland Park, Kan.-based CU Capital Market Solutions LLC (CMS) has announced the purchase of CNBS LLC, a CUSO that originated from U.S. Central in the late 1980s to provide brokerage services to credit unions.

The boards of directors of TULIP Cooperative Credit Union and Harborstone Credit Union voted late last week to merge, pending regulatory approval.

Tiny TrustUS Federal Credit Union of Midlothian, Texas will merge into Texas Trust Credit Union, based here, after approvals by regulators and by TrustUS FCU members, the two CUs said Monday.

The Maine Credit Union League recently announced a radio advertisement initiative beginning July 1 that includes 2,000 paid and no-charge 60-second commercials that will air throughout the summer highlighting the SurF campaign and the credit union movement.

Glendale Area Schools CU recently converted from a federal charter insured through NCUSIF to a state charter with private insurance through American Share Insurance, in part because the CU's outspoken CEO Stuart Perlitsh says the federal regulator is often "out of touch" with a credit union's local environment.

United Heritage Credit Union, Austin, Texas, on Tuesday said it has launched a new insurance company known as UHCU Insurance Services, LLC.

The National Credit Union Administration will host a free marketing and social media webinar on August 10 at 2 p.m. EST, entitled “Marketing -- Effective Use of Social Media.”

New York-based Municipal Credit Union has been recognized by the New York State Legislature for its 100 years of service to the civil service community with a legislative resolution in the state Senate.

At least eight small mutuals have agreed in recent years to merge with another institution rather than convert to stock ownership. More deals could be on the way.

Glendale Area Schools Federal Credit Union has converted to a state charter and will also be insured through American Share Insurance, the sole alternative provider of insurance for CUs, effectively removing it from NCUA’s purview.