Clearinghouse CDFI will use funds from the $2 million investment to support affordable-housing and economic-development projects in communities and Native American reservations in California, Nevada and Arizona.
Jefferson Financial in Louisiana struck a deal to bring in $12 million in secondary capital, which is believed to be the biggest haul to date for a credit union. It could also embolden other credit unions to pursue similar fundraising efforts.
The acquisition is expected to boost WesBanco’s presence in Huntington, W.Va., and provide a bridge to its existing operations in Charleston, W.Va., and southeastern Ohio.