Credit Unions: Page 2

  • Bank trade groups take aim at VyStar-Heritage deal

    In a letter to the FDIC, bank trade groups called out VyStar Credit Union's history of closing branches and said the $195.7 million deal would cut regulatory safeguards for low- and moderate-income consumers.

    By May 17, 2021
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    Permission granted by Workers Credit Union

    Massachusetts credit union blends tech, financial-coaching focus

    Workers Credit Union's latest branches feature interactive holograms, video ATMs — and employees aiming to de-stigmatize money.

    By May 4, 2021
  • Explore the Trendline
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    Mark Wilson via Getty Images

    Credit unions in the competitive landscape

    Credit unions are teaming up to target niche segments, using tech-forward thinking, and scrapping unpopular practices to add new members and keep existing customers.

    By Banking Dive staff
  • VyStar Credit Union to buy Heritage Southeast Bank for $195.7M

    The deal, which is expected to close later this year, would be the credit union's second purchase of a bank in two years.

    By April 1, 2021
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    Permission granted by Partner Colorado Credit Union

    Colorado credit union spinoff has ambitions beyond pot banking

    Partner Colorado CEO Sundie Seefried plans to leave her post in July to lead a new entity that will launch lending products for cannabis companies. She's also eyeing the growing crypto and psychedelic mushroom space.

    By Updated June 23, 2021
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    Alabama Extension. (2020). "The image" [Photograph]. Retrieved from Flickr.

    Credit unions top Fed survey of small-business lending satisfaction

    The annual report paints a dire picture of the pandemic's impact and shows a disparity along racial lines as to what is the top concern for 2021.

    By Feb. 5, 2021
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    Permission granted by Navy Federal Credit Union

    Navy Federal Credit Union continues branch expansion as banks scale back

    "While the self-service capabilities ... work well to meet a lot of [military members'] fundamental needs, there's still ... a need for them to be able to walk into a branch and get some financial guidance," a credit union executive said.

    By Feb. 3, 2021
  • Minnesota's Wings Financial makes year's 1st credit union purchase of bank

    Wings CEO Frank Weidner said he was attracted to Brainerd Savings & Loan because of the bank's cabin mortgage business — a lending silo the credit union wants to grow — and its geography.

    By Jan. 26, 2021
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    The image by Андрей Бобровский is licensed under CC BY 3.0

    Bank leaders, trade groups condemn insurrection at US Capitol

    "We have to begin reinvesting in our democracy," Goldman Sachs CEO David Solomon said in a LinkedIn post, adding that the country has "squandered" its "reservoir of goodwill around the world."

    By Jan. 7, 2021
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    Kendall Davis/Banking Dive
    Dive Awards

    The Banking Dive Awards for 2020

    The government turned to banks and fintechs to help facilitate federal relief amid the coronavirus pandemic. Here are the executives and companies whose leadership stood out during the global crisis.

    By Banking Dive Team • Dec. 9, 2020
  • Twitter to invest $100M in CDFIs in effort to combat racial wealth gap

    The social media giant follows a growing number of corporations, including Netflix and PayPal, that have embarked on similar initiatives to funnel more capital to Black and Latinx financial institutions and businesses.

    By Nov. 13, 2020
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    Kendall Davis/Industry Dive/Banking Dive, data from Marc Nozell

    Bank executives, trade groups react to Biden-Harris victory

    Several bank and credit union trade groups, as well as top bank executives, not waiting on a Trump concession, have released statements and congratulatory posts on the highly contested 2020 election.

    By Nov. 9, 2020
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    Banks moving into branchless towns amp up community ties

    From sponsoring Little League and Girl Scouts initiatives to helping a local library recover from a fire, small banks show deep roots when moving into banking deserts.

    By Ken McCarthy • Oct. 26, 2020
  • Deep Dive

    Acquisition under the radar: Credit unions resume community bank deals

    A hearing on tax exemption is long overdue, advocates say. But lawmakers are focusing on pandemic priorities. Meanwhile, a credit union may be a community bank's best hope.

    By Oct. 6, 2020
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    Alabama credit union to buy bank in 6th such deal of 2020

    The tie-up represents Alabama One's second takeover of the year, following a July merger that brought Alabama Rural Electric Credit Union under its umbrella.

    By Sept. 4, 2020
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    PenFed set to grow through merger with Long Island credit union

    Eligible members of Sperry Associates Federal Credit Union will be given a $350 merger dividend once the deal goes through, expected at the end of the year.

    By Aug. 31, 2020
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    Kendall Davis

    Crane Credit Union buys its 2nd bank in past 2 months

    The pace of bank acquisitions by credit unions has slowed significantly, but Indiana has proved fertile for credit union-bank tie-ups. The state is home to three of the nation's five such deals this year.

    By Aug. 20, 2020
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    "Google Bike" by R Boed is licensed under CC BY 2.0

    Six more banks partner with Google to launch co-branded checking accounts

    Banks may view the Google venture as a way to expand their brand and grow customer accounts outside of their existing branch network.

    By Aug. 3, 2020
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    Kendall Davis

    Indiana deal marks 4th credit union purchase of bank this year

    Including Heritage Federal Credit Union's deal to buy The Elberfeld State Bank, the pace of credit union-bank tie-ups has slowed to half of what it was at this point last year.

    By July 7, 2020
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    Kendall Davis

    Indiana's Crane Credit Union to acquire community bank

    The acquisition would mark the third such takeover this year. A record 16 credit union-bank tie-ups were announced in 2019, but the coronavirus — and the judicial branch, in one case — scuttled the trend so far in 2020.

    By June 12, 2020
  • Pandemic halts Suncoast Credit Union's acquisition of Apollo Bank

    "The COVID-19 virus changed the value of our agreement and left us with an unpredictable future," Suncoast CEO Kevin Johnson told Banking Dive.

    By May 13, 2020
  • Credit unions' appetite for banks 'paused' amid pandemic

    COVID-19 brought a torrid pace of acquisitions to a halt, with CEOs preoccupied and sellers fighting slumping value. But an M&A attorney expects deals to "heat right up" when the outbreak clears.

    By Ken McCarthy • May 7, 2020
  • Tinker Federal Credit Union to buy Oklahoma community bank

    Far fewer credit unions have proposed purchasing banks in 2020, compared with last year — a possible consequence of the coronavirus crisis and fervent trade group opposition.

    By May 1, 2020
  • Credit union trade group questions PPP's batch processing system

    The 5,000 minimum required to submit loans in batches is too high to benefit smaller lenders like credit unions, CUNA Chief Advocacy Officer Ryan Donovan told Banking Dive.

    By April 29, 2020
  • Seattle bank, credit union execs look to other side of flattened COVID curve

    Panicked withdrawals, SBA loan requests and an eased stance toward customer face masks have all been part of the temporary normal in the U.S.'s ground-zero coronavirus market.

    By Ken McCarthy • April 24, 2020
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    Kendall Davis/Banking Dive

    The novel coronavirus impact on the banking industry

    The banking industry is central to the global economy's stability. Follow Banking Dive's coverage of the pandemic here.

    Updated March 18, 2020