News Topic: Credit unions

The nation's third-largest credit union saw a huge lending spike in 2020, especially in its mortgage division, while membership grew by 159%, thanks in part to merger activity. ... Read full article

The firm's two cofounders will now split duties between running the organization and focusing on future growth. ... Read full article

A Democratic majority in Washington may help advance a number of key legislative issues for the industry, such as passage of a national data security standard. However, it could also lead to a renewed focus on consumer protection laws. ... Read full article

Australia Hoover, who started as a call center employee in 1996, succeeds Betsy Mercier, who is retiring after 22 years at the helm. ... Read full article

Industry groups say the coronavirus has highlighted additional risks faced by institutions without a diverse member base. ... Read full article

Brian McVeigh passed away on Dec. 31, following a 14-month battle with brain cancer, according to a release from the Michigan Credit Union League, having spent more than 35 years serving in a variety of roles at CUs across the state. ... Read full article

Consumers will continue to utilize new payments methods in the coming year, but are also likely to shift between credit and debit, the company said. ... Read full article

Members of the House could return to Washington early this week to vote on impeachment, while the National Credit Union Administration will revisit risk-based capital rules. ... Read full article

In a letter to credit unions, NCUA urged federally chartered shops to expand their fields of membership to underserved areas, regardless of geography, in order to boost financial inclusion in the wake of the pandemic. ... Read full article

The agency will once again tackle one of its most controversial subjects when it meets on Jan. 14 for an ambitious agenda on what could be Rodney Hood's final meeting as chairman. ... Read full article

Discussions to combine Penobscot County Federal Credit Union and The County FCU began in June 2019 but the deal was not completed until the end of 2020. ... Read full article

While some legislatures have extended provisions temporarily allowing online notaries, other lawmakers are pushing for those rules to be made permanent. ... Read full article

The Papillion, Neb.-based credit union has appointed Chief Operations Officer Robin Larsen to succeed Gail DeBoer. ... Read full article

Capitol police directed the institution to close four branches Wednesday as armed Trump supporters forced their way into the complex, and two facilities remained shuttered late in the day. ... Read full article

The combined institution will hold roughly $30 million in assets and serve about 4,000 members. ... Read full article

CO Federal Credit Union, which has $4.5 million in assets and serves just 785 members, was conserved due to unsafe and unsound practices, the regulator said. ... Read full article

John Lund joined the Utah-based credit union as a courier in 1975 and was named CEO in 2012. His successor has spent more than three decades there. ... Read full article

The trade group is the latest to call for financial services workers to be moved closer to the front of the line as COVID-19 vaccinations are distributed. ... Read full article