Credit Unions
-
Permission granted by Finastra
Sponsored by Finastra3 tips to help credit unions thrive in the era of open finance
How credit unions can embrace data, open technology and diverse markets to succeed in the world of open finance.
By Peter Longo, VP Product Management, US Mid-Market Core and Digital • Sept. 16, 2024 -
Permission granted by TDECU
Texas credit union discovers year-old data breach
TDECU fell victim to last year’s MoveIt data breach, but only found out in July. The credit union said the incident is not expected to impact its acquisition of a Louisiana bank.
By Gabrielle Saulsbery • Aug. 29, 2024 -
halbergman via Getty Images
Credit union to buy New Mexico bank
Albuquerque-based U.S. Eagle’s proposed acquisition of Southwest Capital Bank marks the 14th whole-bank purchase of 2024 by a credit union and the second in the past week.
By Gabrielle Saulsbery • Aug. 19, 2024 -
Solidago via Getty Images
Washington state credit union to buy Oregon bank
Of the 16 credit union-bank deals announced this year, five have involved financial institutions based in the Evergreen State.
By Gabrielle Saulsbery • Aug. 14, 2024 -
Denis Tangney Jr. via Getty Images
Thrivent receives ILC charter
Following its approval for deposit insurance, the financial services company plans to convert Thrivent Federal Credit Union into online-only Thrivent Bank.
By Gabrielle Saulsbery • June 24, 2024 -
Permission granted by Pima Federal Credit Union
TrackerCredit unions have been buying up banks. Here’s a running list from 2024.
Not only are the acquisitions coming at a record pace. The institutions being bought are bigger than ever before. M&A attorneys give clues as to why.
June 24, 2024 -
Getty Images/Staff via Getty Images
Michigan’s ELGA Credit Union to acquire Florida bank
With the move, ELGA isn't even the only credit union in Grand Blanc (population 7,800) to buy a bank based in the Sunshine State.
By Dan Ennis • June 4, 2024 -
Permission granted by Atlanta Postal Credit Union
Georgia credit union to buy Affinity Bank
The acquisition is the 11th whole-bank purchase by a credit union this year, tying 2023's level of activity — with seven months remaining in 2024.
By Rajashree Chakravarty • May 31, 2024 -
Maks_Lab via Getty Images
Gesa Credit Union to buy Washington bank
The transaction, expected to close next year, marks the fourth time a credit union has moved on an Evergreen State bank this year. The purchase price was not disclosed.
By Banking Dive staff • May 24, 2024 -
Permission granted by Pima Federal Credit Union
Arizona credit union to acquire bank
Pima's acquisition of Republic Bank of Arizona, expected to close in the second half of the year, would give the Tucson-based credit union a foothold in the Phoenix area.
By Rajashree Chakravarty • May 17, 2024 -
Maks_Lab via Getty Images
LinkBank sells 3 NJ branches to credit union
The branches more than double Philadelphia-based American Heritage's Garden State footprint. The transaction aims to help LinkBank achieve efficiencies tied to its recent purchase of Partners Bank.
By Dan Ennis • May 10, 2024 -
Permission granted by TDECU
Houston area-based TDECU to buy Louisiana bank
At more than $1.2 billion in assets, Sabine is one of the largest banks to be part of an acquisition by a credit union. It's the eighth such deal this year.
By Banking Dive staff • May 1, 2024 -
Permission granted by Navy Federal Credit Union
Navy Federal’s ‘community bank’ label draws ICBA rebuke
The trade group wants the FDIC and NCUA to issue cease-and-desist orders against the credit union's characterization of a co-branded program with the Defense Department.
By Gabrielle Saulsbery • April 4, 2024 -
George Dodd via Getty Images
Harborstone Credit Union to buy SaviBank
The acquisition will end Savi's effort to create Orca Bank, a Washington state-chartered de novo that received FDIC approval last August.
By Ken McCarthy • March 22, 2024 -
DustyPixel via Getty Images
How Golden 1 used AI to find ‘good risk’
The credit union partnered with Zest AI to build its own customized credit scorecard and has seen a 28% increase in approvals to protected classes of borrowers, Golden 1's CEO said.
By Ken McCarthy • March 12, 2024 -
David Ryder/Getty Images via Getty Images
Sound Credit Union to buy Washington Business Bank
The Sound deal, set to close in the fourth quarter, marks the sixth acquisition of a whole bank by a credit union this year and the second in the Pacific Northwest.
By Ken McCarthy • March 11, 2024 -
Luna Marina via Getty Images
Compliance, overdraft fees may get greater focus in left-leaning NCUA
Liquidity and interest rate risk remain “very high priorities” for regulatory agencies, credit union executives said at a conference last week.
By Ken McCarthy • March 11, 2024 -
Denis Tangney Jr. via Getty Images
Hudson Valley Credit Union to buy 8 Berkshire Bank branches
The bank is selling 10 branches in all, in three deals set to close in the third quarter. Hudson Valley’s deal is the second partial bank acquisition by a credit union this year.
By Ken McCarthy • March 5, 2024 -
nathaphat via Getty Images
Smaller credit unions face hurdles despite NCUA’s fintech rule
The financial innovation rule may open the door to more partnerships, but larger institutions still have advantages on tech, budget and risk management, experts say.
By Ken McCarthy • Feb. 28, 2024 -
DustyPixel via Getty Images
California AG urges small banks, credit unions to ax ‘surprise’ overdraft fees
Some overdraft and returned deposited-item fees may violate the state’s Unfair Competition Law and the federal Consumer Financial Protection Act, Rob Bonta warned in a letter last week.
By Ken McCarthy • Feb. 26, 2024 -
Permission granted by Navy Federal Credit Union
Navy Federal boosts COO to top executive role
Dietrich Kuhlmann, a 35-year Navy veteran, becomes CEO of the nation’s largest credit union March 1. He takes the helm from Mary McDuffie, under whom membership grew by 5 million and assets nearly doubled.
By Dan Ennis • Feb. 21, 2024 -
Permission granted by Navy Federal Credit Union
How does Navy Federal account for its quick growth?
The $170.8 billion-asset institution added more customers last year than all but nine credit unions count in total membership. Thank marketing, mission and word of mouth, observers say.
By Ken McCarthy • Feb. 9, 2024 -
Atstock Productions via Getty Images
Empeople Credit Union to acquire Wisconsin bank
Buying TSB Bank would deepen Empeople’s Wisconsin footprint with three added branches and $182 million in assets. The deal is set to close in the fourth quarter for an undisclosed sum.
By Ken McCarthy • Feb. 8, 2024 -
Maks_Lab via Getty Images
Beacon Credit Union to buy Indiana bank
The proposed acquisition of Mid-Southern Savings Bank marks the fourth purchase of a bank by a credit union in the first 26 days of the year.
By Ken McCarthy • Jan. 29, 2024 -
Permission granted by Advia Credit Union
Michigan credit union to buy NorthSide Community Bank
Advia Credit Union will expand its footprint in northeastern Illinois with the third proposed acquisition of a bank by a credit union in 2024.
By Rajashree Chakravarty • Jan. 29, 2024
