Credit Unions


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    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
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    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
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    Credit unions in the competitive landscape

    If credit unions are looking for proof of their competitive sway, they should look no further than a Federal Reserve governor’s call to include credit unions in regulators’ evaluation of a banking market.

    By Banking Dive staff
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    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 Feb. 21, 2024
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    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
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    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
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    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
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    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 Jan. 29, 2024
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    Alaska credit union to buy $1.5B-asset Washington bank

    Global Federal Credit Union, with over $11 billion in assets, will buy First Financial Northwest Bank in the second such deal this year. The transaction is expected to close in the fourth quarter. 

    By Jan. 12, 2024
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    NY credit union eyes a bank purchase in 1st such deal of 2024

    The transaction will boost Hudson Valley Credit Union’s assets to roughly $7.4 billion and increase its footprint to 32 full-service branches across the Hudson Valley and Capital Regions.

    By Jan. 11, 2024
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    Alabama credit union to buy 5 branches of community bank

    After the transaction, 22nd State Bank will relocate its charter to Mobile, and operate as an independent community bank with two locations in the area.

    By Jan. 4, 2024
  • Navy Federal Credit Union, Douglasville Georgia location
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    Navy Federal sued over alleged mortgage disparity by race

    The credit union last year approved 48.5% of mortgage applications from Black borrowers, but 77.1% from White ones, CNN found. The gap drew comparisons to similar numbers from Wells Fargo in 2020.

    By Dec. 19, 2023
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    Arizona credit union buys bank in 11th such deal of 2023

    AEA Federal Credit Union's purchase of West Valley National Bank will double its brick-and-mortar presence and expand it into the Phoenix and Las Vegas markets.

    By Nov. 8, 2023
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    Court pauses CFPB small-biz data collection rule nationwide

    An earlier limited injunction “leaves non-exempted lenders subject to the discretion of an agency whose very ability to act is a matter of constitutional concern,” a Texas federal judge wrote Thursday.

    By Oct. 27, 2023
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    Banking events for the 2023-24 conference season

    It’s time to plan for the rest of this year and beyond. Banking Dive has you covered with a running list of industry conferences, expos and meetings.

    By Sept. 29, 2023
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    Rakuten withdraws bid for NCUA charter

    The Japanese e-commerce firm previously tried three times to gain a charter via an industrial loan company application, only to withdraw each bid months later.

    By Sept. 19, 2023
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    USAA poised to offer no-interest loans as government shutdown looms

    USAA said the loans are aimed at assisting customers who are likely to experience a paycheck disruption in the event of a government shutdown.

    By Sept. 15, 2023
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    Alabama, Michigan credit unions buy banks in torrid M&A week

    “It’s just how the timing worked out on these two specific transactions,” said CEO Robert Steensma, whose Five Star Credit Union announced two transactions within three days, as did MSUFCU.

    By Sept. 1, 2023
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    Florida credit union buys local bank in 8th such deal of 2023

    Innovations Financial Credit Union agreed to buy First National Bank Northwest Florida, months after a deal for the bank — also involving a credit union — fell apart.

    By Aug. 31, 2023
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    Michigan credit union buys Chicago-area bank in August deal surge

    MSUFCU's proposed purchase of McHenry Savings Bank marked the second such transaction in 24 hours and the third this month.

    By Aug. 30, 2023
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    Alabama credit union agrees to buy Georgia’s OneSouth Bank

    The transaction, set to close by the second quarter of 2024, would push Five Star Credit Union’s assets to nearly $1 billion.

    By Aug. 29, 2023
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    Credit union to buy Seattle’s First Sound Bank

    The transaction, set to close in the first quarter of 2024, will push Harborstone Credit Union beyond the $2 billion-asset mark. BM Technologies had proposed buying the bank in 2021, but the deal fell apart.

    By Aug. 3, 2023
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    NAFCU, CUNA agree to merge

    Jim Nussle, CUNA’s CEO, will serve as top executive of the new organization, America’s Credit Unions, which will start operating by early 2025, according to a statement Tuesday.

    By Aug. 2, 2023
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    Sponsored by EY Banking and Capital Markets

    [Podcast] Igniting organic growth and driving customer value in banking

    This podcast explains how leading banks utilize data to enhance customer understanding and drive organic growth. Discover valuable insights from EY Global's research on consumer preferences and learn from the strategies of Bank of America and Citizens Financial Group.

    By Banking Dive's studioID • July 31, 2023
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    New Mexico credit union to buy Western Heritage Bank

    The transaction, for an undisclosed sum, will give $4 billion-asset Nusenda Credit Union six added branches and a presence in Texas, as four of Western Heritage’s locations are in El Paso.

    By June 7, 2023
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    Alabama credit union to buy SunSouth Bank

    After the transaction, All In Credit Union will have $3 billion in assets and 33 locations across the state's southeast and the Florida Panhandle.

    By June 2, 2023