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

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

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

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

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

Alaska credit union to buy Washington bank in $231.2M deal

With $1.5 billion in assets, Renton-based First Financial Northwest stands to be the largest bank purchased by a credit union after Global Federal completes the deal, expected in the fourth quarter.

By Rajashree Chakravarty • Jan. 12, 2024

NY credit union eyes 1st whole-bank purchase 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 Region.

By Rajashree Chakravarty • Jan. 11, 2024

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

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

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

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

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

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

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

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

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

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 Dan Ennis • Aug. 30, 2023

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 Rajashree Chakravarty • Aug. 29, 2023

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 Rajashree Chakravarty • Aug. 3, 2023

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 Rajashree Chakravarty • Aug. 2, 2023

[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

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 Dan Ennis • June 7, 2023

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 Rajashree Chakravarty • June 2, 2023

Illinois credit union to buy bank in year’s 2nd such tie-up

The deal is expected to close by March 2024 and is the second bank purchase proposed by Land of Lincoln Credit Union since December.

By Rajashree Chakravarty • May 2, 2023

SavvyMoney helps consumers bolster credit scores, banks bolster loan portfolio

The integrated credit solution has 1,055 banking partners, and that number "grows daily," its CEO said.

By Gabrielle Saulsbery • March 29, 2023