Credit Unions
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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 -
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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 -
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TrendlineCredit 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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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 -
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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 -
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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 -
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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 -
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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 -
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 -
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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 Rajashree Chakravarty • 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 Rajashree Chakravarty • 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 Rajashree Chakravarty • 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 Rajashree Chakravarty • Jan. 4, 2024 -
Permission granted by Navy Federal Credit Union
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 Dan Ennis • Dec. 19, 2023 -
Zhanna Hapanovich
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 Dan Ennis • 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 Dan Ennis • 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 Dan Ennis • 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 Anna Hrushka • 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 Anna Hrushka • 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 Rajashree Chakravarty • 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 Gabrielle Saulsbery • Aug. 31, 2023 -
Gian Lorenzo Ferretti Photography via Getty Images
ColumnMichigan 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 Dan Ennis • Aug. 30, 2023
