Practice management

Credit unions had the highest satisfaction score (91) of any type of institution, followed by community banks (86), large and midsize banks (79) and the four universal banks (72), according to the Consumer Banking Expectations Index.

As CU Direct's annual "Drive" conference gets underway Wednesday in Glitter Gulch, the company is looking to expand awareness of its new Advisory Services.

Shareholders of JPMorgan Chase voted in favor of Jamie Dimon keeping the chairman and chief executive roles. They likely fear Dimon would retire if stripped of one of the jobs.

Polonia Bancorp in Huntingdon Valley, Pa., has hired Joseph Svetik as its president and chief executive. Svetik recently served as a director of JTNB Bancorp and, before that, had been president and CEO of ESSA Bancorp.

NCUA announced Friday it approved a federal charter for another credit union — the Seneca Nation of Indians FCU — which will serve members of the Seneca Nation Indian tribe in western New York state.

The Federal Accounting Standards Board (FASB) has indicated it plans to make changes to how financial institutions calculate allowances for loan loss reserves, moving from an incurred loss model to an expected loss model.

Just two days after Rick Menton became CEO of Cherokee Strip, all but one member of the loan department resigned. Yet just 18 months later, the $88 million CU boasts 100% loan growth, 10% membership growth and a positive ROA for the first time in five years at .88%.

Unemployment and gas prices are both down, and interest rates may soon be heading up — all of which spells good news for credit unions' bottom lines. That's the verdict from a number of CFOs and economists who spoke with Credit Union Journal and predicted that while sunnier times may be on the way, CUs can do more now to bolster the bottom line later.

WASHINGTON — The first quarter of 2015 might have been a weak one for overall GDP growth, but credit unions exhibited strength in a number of areas.

Global financial inclusion efforts have made big strides, but documentation requirements continue to hinder access to financial services, and women and the poor remain disproportionately underserved, according to the World Bank's annual study.

Credit union executives talk about where credit unions should be focusing their efforts to innovate.

Experts urge credit unions to keep an eye on four trends that could be disruptors or big opportunities at CO-OP's THINK15 conference that is aimed at promoting innovation in the credit union industry.

DUNEDIN, Fla. — Mark down Achieva CU as the latest credit union to buy a bank. The $1.1 billion credit union announced it has signed an agreement to acquire Calusa Bank, a Florida state-chartered bank with $165 million in assets.

WASHINGTON — Two credit unions – Security Service Federal Credit Union in San Antonio and Bethpage Federal Credit Union, Bethpage, N.Y. – made the cut for WalletHub's list of "2015's Best Bank Accounts for Small Businesses."

RIVERSIDE, Calif. — Altura Credit Union on Friday reported $2.34 million in net income for the first quarter — stretching its streak of consecutive quarters of positive earnings to 16.

If banking is under attack, then chief financial officers are the defenders of the realm. Equipped with the numbers, they are uniquely positioned to bring the credible answers their stakeholders seek and the changes their companies need.

They spent their formative years analyzing balance sheets saddled with problem assets. They watched their mentors struggle to keep their banks afloat through the crisis. And they took good notes.

Our new special reports and proprietary research profile the key executives flanking the CEOs at financial institutions and explore how their roles have evolved. First up: the chief financial officer.

It's not just about the new name and brand. Vibrant CU, previously named DHCU, has embarked on a full-scale culture change, as well, seeking to create an enhanced member experience that will lead to deeper relationships that are more profitable for the member and CU alike.

The $129 million-asset bank said in a press release Thursday that Robert O’Donnell will remain its chairman even though he is retiring as CEO.