Credit Unions
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Oregon credit union to buy in-state bank
Salem-based Maps Credit Union’s purchase of Lewis & Clark Bank marks the fourth whole-bank acquisition proposed by a credit union this year.
By Dan Ennis • April 16, 2025 -
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Credit union trade group chief to retire
Jim Nussle will retire as CEO of America's Credit Unions, though no exact date was given. Nussle plans to remain until a successor is found.
By Rajashree Chakravarty • April 7, 2025 -
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TrendlineM&A
President Donald Trump’s reelection was predicted to yield loosened regulation. But tariff volatility and economic uncertainty has thrown a wrench into an expected boom in mergers and acquisitions.
By Banking Dive staff -
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Alabama credit union to acquire in-state community bank
Legacy Community Federal Credit Union’s move to buy Cullman-based First Community Bank is the third proposed acquisition of a bank by a credit union this year.
By Rajashree Chakravarty • March 19, 2025 -
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Illinois’ NuMark Credit Union to buy in-state bank
The deal for The Lemont National Bank, expected to close in the second half of 2025, is the second proposed acquisition of a bank this year by a credit union.
By Rajashree Chakravarty • March 13, 2025 -
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Golden 1 CFO sees culture fit as crucial in hiring
Keeping credit union membership at top of mind sometimes means tweaking the "pure math" approach to solutions, Golden 1 CFO Allyson Hill said.
By Grace Noto • March 5, 2025 -
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Fed delays start of new Fedwire standard
The central bank postponed a deadline for banks and credit unions to move Fedwire payments to the ISO 20022 format. That may also hold up a broader industry modernization effort.
By Lynne Marek • Feb. 19, 2025 -
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Deep DiveBanking sector girds for M&A uptick in 2025
Bank M&A rebounded in 2024, with six deals over $1 billion announced. The Fed approved the two largest before the Trump administration took office. But where to go from here?
By Rajashree Chakravarty • Jan. 31, 2025 -
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California credit union to buy in-state bank
The $56.4 million acquisition of Community Valley Bank will give Frontwave Credit Union $315.8 million in added assets, five locations and entry to Imperial County.
By Rajashree Chakravarty • Jan. 23, 2025 -
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Massachusetts, Michigan deals push credit union-bank record to 22
Not every deal crosses the finish line, though. Atlanta Postal Credit Union and Affinity Bank terminated their proposed combination Monday.
By Rajashree Chakravarty • Jan. 2, 2025 -
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Underbanked US population grows to 14.2%, FDIC finds
Separately, the unbanked proportion of U.S. households dropped to 4.2% last year, the regulator said in its biennial survey. But racial disparity persists: 32.3% of unbanked households are Black and 33.4% are Hispanic, the FDIC found.
By Caitlin Mullen • Nov. 13, 2024 -
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Michigan credit union’s deal for Florida bank extends M&A record
DFCU Financial’s third acquisition in the Sunshine State over the past two years marks the 20th whole-bank purchase by a credit union in 2024.
By Rajashree Chakravarty • Nov. 11, 2024 -
Permission granted by Navy Federal Credit Union
Navy Federal to pay $95M in CFPB overdraft case
The nation’s largest credit union charged overdraft fees on purchases made with sufficient funds from 2017 to 2021, generating about $44 million per year from “surprise” fees, the CFPB said.
By Rajashree Chakravarty • Nov. 8, 2024 -
CFPB fines VyStar $1.5M over 2022 outage
The order requires the Jacksonville, Florida-based credit union to reimburse fees and costs to members from the botched rollout of an online banking system.
By Rajashree Chakravarty • Nov. 1, 2024 -
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Tennessee credit union crosses state line in bank purchase
Y-12 Federal Credit Union will expand into Kentucky by acquiring First State Bank of the Southeast — the 19th whole bank-credit union deal announced this year.
By Rajashree Chakravarty • Oct. 24, 2024 -
(2024). [Photo]. Retrieved from Federal Reserve.
Credit unions, fintechs should face same regulations as banks: Fed’s Bowman
“[Community banks] are also subject to a broader range of restrictions imposed by regulatory requirements…the disparity in the legal framework can have a distortive effect on competition,” Bowman said.
By Rajashree Chakravarty • Oct. 15, 2024 -
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Philly-area credit union to pay $6.5M in DOJ redlining settlement
Citadel Federal Credit Union failed to provide mortgage lending services to residents of predominantly nonwhite neighborhoods between 2017 and 2021, the agency said.
By Rajashree Chakravarty • Oct. 11, 2024 -
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Credit union deal record extends
Community First Bank is the 18th proposed whole-bank acquisition by a credit union this year, and the sixth with ties to Washington state.
By Gabrielle Saulsbery • Oct. 9, 2024 -
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Arizona credit union-bank deal pushes 2024 to new record
Phoenix-based OneAZ Credit Union's proposed acquisition of 1st Bank Yuma marks the 17th whole-bank purchase by a credit union this year, surpassing a 2022 record.
By Rajashree Chakravarty • Oct. 4, 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 -
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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 -
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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 -
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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 -
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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
