News Topic: Credit unions

Noninterest income from Paycheck Protection loans and mortgage refinancings isn't enough to make up for shortfalls elsewhere, and growth prospects are hard to identify. ... Read full article

Sundie Seefried, one of the credit union industry's foremost experts on cannabis banking, will transition to a new role this summer, leading a new venture serving the legal marijuana space. ... Read full article

Noninterest income from Paycheck Protection loans and mortgage refinancings isn't enough to make up for shortfalls elsewhere, and growth prospects are hard to identify. ... Read full article

A deal to merge with First General Credit Union in Norton Shores, Mich., will extend the Detroit-area institution's reach across the state. ... Read full article

A plan to make expansion easier for credit unions is getting pushback not just from bankers, but also from the regulator's current chairman and a former board member. ... Read full article

The Jackson, Miss.-based credit union is part of an alliance that also includes the megabank, seven cities and nine historically Black colleges and universities, and aims to provide investments of up to $130 million to help stabilize businesses and ... Read full article

The Philadelphia-based institution will host free coronavirus screenings for the public this month as part of a partnership with the Greater Bustleton Civic League. ... Read full article

The combined institution will hold assets of more than $335 million and serve over 20,000 members across eight counties in Oregon. ... Read full article

Richard Daugherty stepped down after more than three decades at the Maryland-based institution, including overseeing four mergers and asset growth of nearly 500%. ... Read full article

Tom Rachael, who has led the Muncy, Pa.-based institution since 2003, will be succeeded by Scott Naughton, who is new to credit unions but has extensive experience in the financial services sector. ... Read full article

Home loans accounted for the bulk of the industry’s lending gains in 2020, but inventory shortages in some markets and an uneven economic recovery may dim prospects this year. ... Read full article

A recently approved TIP charter, the latest in a series of growth initiatives over the last five years, will allow the Tampa-based credit union to serve anyone working in the medical field statewide. ... Read full article

When its proposed sale to Suncoast Credit Union fell through, Apollo Bank decided to step up commercial lending and revamp its digital offerings in anticipation of an economic rebound in South Florida. ... Read full article

The North Carolina-based credit union, which purchased the vacant bank branch last summer, serves some members across the state line but has not had a brick-and-mortar presence there until now. ... Read full article

The North Carolina-based credit union is one of a handful in the industry to prioritize diversity, equity and inclusion at the management level. ... Read full article

The onset of COVID-19 forced the industry’s largest trade group to put its Open Your Eyes campaign on hold, but nearly a full year later it’s still struggling for industry buy-in. ... Read full article

Credit unions are hoping for a return to normal credit card spending patterns sometime during the second half, but the pandemic has created a domino effect of complicating factors. ... Read full article

The decision comes after a decade in which several U.S.-based institutions elected to drop the words "credit union" from their branding. ... Read full article