Florida credit union buys bank for 10th such combo this year

The deal between Harvesters Credit Union and First National Bank Northwest Florida is expected to be complete in the first quarter of 2023.

By Dan Ennis • Aug. 15, 2022

Heritage Southeast finds another buyer, a month after the VyStar deal crumbled

Mississippi-based The First Bank agreed Wednesday to pay $207 million in a deal that would give it 23 new locations and access to the Atlanta, Jacksonville and Savannah markets.

By Dan Ennis • July 29, 2022

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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

Tennessee regulator files appeal to block credit union's bank takeover

Financial Federal Bank account holders would be “irreparably harmed and disrupted” — as would the state’s interest in maintaining a safe and sound banking system — if the deal is allowed to close, a state official argued.

By Anna Hrushka • June 28, 2022

VyStar Credit Union, Heritage Southeast call off merger agreement

After a series of delays, Heritage and VyStar said they decided to end the $195.7 million tie-up after it became clear that all required regulatory approvals would not be obtained in a timely manner.

By Anna Hrushka • June 16, 2022

Tennessee judge lifts injunction, lets credit union-bank deal proceed

The state's Department of Financial Institutions has until June 27 to file an appeal concerning Orion Federal Credit Union's proposed acquisition of Financial Federal Bank.

By Dan Ennis • June 3, 2022

Illinois proves M&A hot spot with pair of credit union-bank tie-ups

Credit Union 1 looks to boost its commercial lending in Chicago's northern suburbs, while NuMark Credit Union pushes into a rural part of the state in 2022's eighth and ninth proposed bank acquisitions by credit unions.

By Dan Ennis • Updated June 5, 2022

VyStar outage leaves members without digital banking access for 10 days

The credit union had planned to take down its systems May 13-15 for upgrades but discovered persistent issues and "decided to invest the time ... to make sure we get this right for our members," its CEO said.

By Robin Bradley • May 24, 2022

Michigan credit union to buy Florida bank in 7th such deal of 2022

DFCU Financial's acquisition of First Citrus Bank, estimated at $105 million, would mark the second time since June 2021 that a credit union from the Wolverine State has bought a bank based in Tampa.

By Robin Bradley • May 13, 2022

Wisconsin credit union targets Illinois bank in 6th such tie-up of 2022

Financial terms of CoVantage Credit Union's proposed acquisition of LincolnWay Community Bank were not disclosed. The deal is expected to close in the fourth quarter.

By Robin Bradley • April 28, 2022

Ohio's credit unions swing at BNPL

A trade group asserts buy-now-pay-later providers structure their products to avoid certain consumer protection obligations under the Truth in Lending Act. Friday marked the deadline to make public comments to the CFPB.

By Jonathan Berr • March 25, 2022

Arizona deal marks 5th credit union purchase of bank in 2022

At the current pace, 26 credit union-bank tie-ups could be in the works by the end of the year, far surpassing 2019's record.

By Robin Bradley • March 14, 2022

Credit unions buy Wisconsin, Arkansas banks

The moves to acquire Commerce State Bank and HomeBank bring to three the number of bank tie-ups with credit unions within a week.

By Dan Ennis • March 4, 2022

Georgia-based Robins proposes year's 2nd bank purchase by credit union

Meanwhile, VyStar Credit Union extended by another month its timeline to complete an acquisition of fellow Georgia bank Heritage Southeast.

By Robin Bradley • March 1, 2022

Georgia's Own proposes 2022's first bank purchase by credit union

The deal to buy Smyrna, Georgia-based Vinings Bank — expected to give Georgia's Own two added locations and $471 million in new assets — would mark the second acquisition the credit union has floated this month.

By Dan Ennis • Feb. 22, 2022

SPAC to buy cannabis banking leader Safe Harbor in $185M deal

Safe Harbor spun off from Partner Colorado Credit Union in July and launched a commercial pot lending platform in late 2021. CEO Sundie Seefried will lead the combined organization.

By Robin Bradley • Feb. 15, 2022

Georgia-based credit unions propose merger

Atlanta-based Georgia's Own Credit Union would add six branches, roughly 26,000 members and $243 million in assets under management in a deal to merge with United 1st Credit Union.

By Robin Bradley • Feb. 3, 2022

Nebraska agency denies GreenState Credit Union bank deal

The credit union, established under Iowa laws, does not meet the definition of a "financial institution" that can participate in cross-industry acquisitions or mergers in Nebraska, a hearing officer ruled.

By Dan Ennis • Jan. 7, 2022

NCUA OKs crypto partnerships for credit unions

"Financial services has always been 'adapt or die,'" Kyle Hauptman, the regulator's vice chair, told CoinDesk. "I don't want credit unions to go the way of Blockbuster Video because we, the regulators, prevented innovation."

By Robin Bradley • Jan. 4, 2022

Alabama's Avadian Credit Union buys bank in year's 13th such deal

The tie-up, set to close by next year's third quarter, would leave 2021 shy of 2019's 16 banks bought by credit unions. But Michael Bell, an adviser on such deals, said "quite a few" are ready to be announced next year.

By Dan Ennis • Dec. 21, 2021

Fintechs are friends, not foes, of traditional financial institutions

To test the waters, a financial institution might consider purchasing a pool of loans from a trusted credit union or banking partner that sourced these loans in conjunction with a fintech, an Alliant Credit Union executive suggested.

By Charles Krawitz • Nov. 2, 2021

VyStar, Heritage extend acquisition deadline for a 3rd time

"Our primary focus has always been on achieving the best results for our shareholders," Heritage CEO Leonard Moreland said Thursday. "The combination ... with VyStar allows us to continue that strategy."

By Anna Hrushka • Updated April 4, 2022

GreenState Credit Union broaches Chicago in its 3rd bank purchase this year

A May acquisition gave the Iowa-based credit union a six-branch presence in Chicago's western suburbs. Monday's deal would give it a lending office in the city's West Loop and expand its suburban footprint.

By Dan Ennis • Oct. 27, 2021

Iowa credit union to buy Wisconsin bank in 11th such deal of 2021

The value of Dupaco Community Credit Union's proposed acquisition of Madison-based Home Savings Bank was not disclosed, but the transaction is expected to close in the second quarter of 2022.

By Dan Ennis • Oct. 4, 2021

4 credit unions launch neobank aimed at LMI users

Dora's checking account doesn't have a minimum balance requirement or monthly maintenance fees. Its app functions in both English and Spanish, and the platform offers early paycheck access with direct deposit.

By Robin Bradley • Sept. 30, 2021

ICBA calls for 'exit fee' on credit union-bank deals

The trade group's proposed fee would be equal to 10% of the gross value of the acquired bank's assets or liabilities from its most recent balance sheet — whichever are greater — and would be payable by the acquiring credit union.

By Anna Hrushka • Sept. 3, 2021