Credit Unions: Page 7
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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 Dan Ennis • 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 Anna Hrushka • 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 Dan Ennis • 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 Anna Hrushka • 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 -
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 -
Vote on pot banking bill is months away, Sen. Gardner says
Gardner said the SAFE Banking Act would bring nearly $2 billion of cash from Colorado’s state-legal cannabis industry into the financial system.
By Anna Hrushka • Feb. 27, 2020 -
Deep Dive
Keeping the banking desert at bay in rural America
As big banks concentrate their branches in cities, smaller financial institutions and digital companies find ways to irrigate in abandoned markets.
By Anna Hrushka • Feb. 18, 2020 -
Colorado regulator denies credit union's bid to buy bank
The Colorado Bankers Association wrote the banking board Jan. 13, arguing that the wording in state law doesn't authorize the tax-exempt institutions to buy banks, and that lawmakers should clarify that language.
By Dan Ennis • Updated Jan. 16, 2020 -
Getty Images
4 banking trends to watch in 2020
M&A, climate change, fintech partnerships and challenger banks' experiments overseas are among the narratives Banking Dive expects to resurface throughout the year.
By Dan Ennis , Anna Hrushka • Jan. 16, 2020 -
Danielle Ternes/Banking Dive
Dive Awards
The Banking Dive Awards for 2019
From Jamie Dimon to Mastercard, these are the companies and executives that shaped banking this year.
Dec. 9, 2019 -
NCUA's Hood defends credit union growth during House hearing
Some communities would be without banking access if a credit union hadn't decided to purchase a community bank, NCUA Chairman Rodney Hood told lawmakers Wednesday.
By Anna Hrushka • Dec. 5, 2019 -
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Suncoast Credit Union targets Miami market with Apollo Bank buy
If regulators approve the deal, it would be the 16th bank acquisition by a credit union this year and the largest since 2012.
By Anna Hrushka • Dec. 4, 2019 -
Banks don't need to file SARs when servicing hemp businesses, regulators say
The guidance comes as welcome news to hemp growers, banks and some lawmakers who have long called for clarification.
By Anna Hrushka • Dec. 3, 2019 -
Banks top credit unions for 1st time in customer satisfaction survey
The shift may reflect the greater value consumers place on mobile app quality, the survey's managing director says.
By Dan Ennis • Dec. 2, 2019 -
Q&A
5 questions with Bill Budde, ATM manufacturer Hyosung's VP of product marketing
"Banking is still a very in-person business for a lot of customers," Budde said at the Future Branches conference in Austin, Texas. "Customers still choose their bank based on the proximity of a bank branch."
By Anna Hrushka • Nov. 21, 2019 -
Michigan bill would let credit unions shoulder some of DMV's burden
Banks and vehicle offices use similar data, but this may be the first statewide crossover effort of its kind. A credit union branch in Connecticut reports gaining 25% of its new members in the past year because of its DMV Express services.
By Hillary Richard • Nov. 15, 2019 -
Ondot aims to give smaller banks 'Apple Card-like' success with Card App
Fintech partnerships can help community banks go high-tech while staying high-touch, an ICBA executive says.
By Anna Hrushka • Oct. 29, 2019 -
Cannabis can be most transparent business to bank, Simplifya exec says
Banks entering the space can plumb a wealth of data, based on the number of fintechs that have sprung up to address the challenges associated with the industry, the company's chief compliance officer says.
By Anna Hrushka • Oct. 28, 2019 -
ICBA launches 'Wake Up' campaign in ongoing fight against credit unions
The Credit Union National Association has criticized the campaign, issuing a statement refuting many of the ICBA's claims.
By Anna Hrushka • Oct. 22, 2019 -
61% more banks, credit unions serve pot firms over last year, FinCEN says
The public's shifting attitude toward cannabis, in addition to bipartisan legislation, may be encouraging some banks to take on the reputational and legal risks associated with banking marijuana-related businesses.
By Anna Hrushka • Oct. 10, 2019 -
Square opens digital payments platform to more CBD businesses
The San Francisco-based payment processor's move comes more than four months after it rolled out an invite-only pilot program.
By Anna Hrushka • Oct. 4, 2019 -
House OKs landmark cannabis banking bill
If the Senate also passes the SAFE Banking Act, it would be a major win for the cannabis industry and banks that want a piece of a market that could grow to $41 billion by 2025, according to data firm Nielsen.
By Anna Hrushka • Sept. 26, 2019 -
Credit unions target growth with bank, fintech mergers
The not-for-profit financial institutions have acquired more than 20 U.S. banks since 2018, according to S&P Global — a steep jump over the 12 such takeovers in the previous five years.
By Anna Hrushka • Sept. 25, 2019
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