M&A

Fallout from the coronavirus pandemic consumed the industry this year, but other events, including a scandal at the National Credit Union Administration and a credit union under fire for lack of board diversity, also made waves.

JPMorgan Chase is buying Stamford, Conn.-based cxLoyalty, a major credit card loyalty platform, in a bid to enrich its own card loyalty programs when travel resumes following the global pandemic.

Members of $6.3 million-asset FIAFE Federal Credit Union will vote early next year on whether to merge into $43 million-asset Central Credit Union of Maryland.

Riverside Health System Employees Credit Union has announced plans to merge into the Yorktown-based credit union, which is roughly 100 times its size.

The $10 billion portfolio of what are described as high-quality private student loans will be serviced by Nelnet.