Credit Union News

According to the latest reports, Credit Union membership and total assets have hit an all-time high. Earnings have improved, loans have increased, and deposits have grown even faster than lending, while delinquencies and charge-offs have remained constant, and member bankruptcy filings have decreased.

 

Credit Union Mergers: Efficiencies and Benefits When the acquirer is much larger than the target credit union, target members benefit in terms of lower loan rates and higher deposit rates, while acquirer members see little change. frbsf.org

 

Alaska

Fairbanks banks cautious as marijuana industry unfolds Alaska USA Federal Credit Union has restricted 10 personal accounts linked to people starting a marijuana-related business, a spokeswoman for the financial institution confirmed. Fairbanks Daily News-Miner

 

Alabama

Redstone Federal gives $2.5 million to build new libraries Those goals are very much in line with our credit unions goals." The library is conducting one fund-raising campaign for all three buildings because their timelines overlap. The Huntsville Times

 

Arizona

Hughes Federal Credit Union surpasses 100,000 members The 100,000th member-owner, Maria Reyes, was presented a $1,000 check on July 29 when she opened an account at Hughes’ Wetmore branch, the credit union said in a news release. Arizona Daily Star

 

California

Altura Credit Union collects supplies for county ‘Fill a Backpack’ Campaign Based in the Inland Empire for 58 years, Altura Credit Union serves 116,000 Members, has $1.20 billion in total assets and operates 13 branch offices in Riverside County. Valley News

 

Redwood Credit Union offers free document shredding event in Ukiah “Shredding old financial documents and other confidential paperwork is one of the best measures people can take to protect themselves from identity theft,” said Kristie Strickler, Redwood Credit Union’s Ukiah branch manager. Ukiah Daily Journal

 

Colorado

New credit union replaces closed C-store, gas station College Ave., will give way next year to Elevations Credit Union. The Coloradoan

 

Connecticut

Loan Officer Gets 21 Months For $840K Embezzlement Muchinsky, argued that Mallory was subjected to years of violent abuse by her ex-husband and it was he who forced her to steal from the credit union to cover his debts. Hartford Courant

 

Washington D.C.

Credit Union Suspends No-Hat Policy Tom Lyons, senior vice president of security for Navy Federal, said the new instructions will give credit union officials time to determine what additional training is needed to ensure the policy is enforced consistently. Washington Post

 

Florida

Power Financial Credit Union & Ryder System Federal Credit Union Announce Merger Plans Following regulatory approval, members of Ryder System Federal Credit Union must vote positively on the agreement for the merger to become effective. prnewswire.com

 

Grow Financial Credit Union Integrates Apple Pay Consider Grow Financial Federal Credit Union, a $2-billion institution in Tampa, Florida, that just announced it now has Apple Pay live for its customers’ credit and debit cards. pymnts

 

Georgia

Warner Robins-based Robins Federal Credit Union to change name in January The credit union opened its membership over the years to other groups of people, and it now open to anyone who lives, works or worships in 16 Middle Georgia counties. The Telegraph

 

Hawaii

Kauai’s credit unions donate to KIFB “We want to thank off of the credit union members and staff who were generous and contributed to this effort that helps provide food for our island’s keiki and kupuna,” said Terri Kaniho, representing the Kauai Community Federal Credit Union. The Garden Island

 

Iowa

Meridian Credit Union: A Threat To The 'Big Five' Banks? Credit Unions are co-operatives which are 100% owned by their members. Seeking Alpha

 

Illinois

FBI Investigating Liquidated MN Credit Union Francis Campus Credit Union’s 3,400 members and $51 million in assets have been acquired by the much larger Melrose-based Central Minnesota Credit Union, which has $759 million in assets and 52,000 members. Twin Cities Business

 

Citizens Equity First Credit Union’s Overdraft Policies Under Investigation Established in 1937, this Illinois-based credit union says it now has more than 300,000 members. topclassactions.com

 

Massachusetts

NCSECU: Credit union helps customers avoid overdraft fees Credit unions, which are federally insured but nonprofit and "owned" by members, are still bit players on the financial scene. The Christian Science Monitor

 

Lawrence Venture Fund expands to $2.5 million Several loans later, the Lawrence Venture Fund is now expanding its loan fund to $2.5 million with the help of six additional banks and credit unions. The Eagle-Tribune

 

Digital Federal Credit Union: Traditional Banking Convenience with Credit Union Benefits However, the credit union has more than 470,000 members in all 50 states, many of whom have never even set foot into a DCU branch. The Motley Fool

 

Michigan

Mid-Michigan credit union placed under state control That means the state is running the credit union and another credit union is coming in to run day-to-day operations. ABC12 Mid-Michigan

 

University of Michigan Credit Union hires new CEO “The University of Michigan Credit Union has a tradition of providing quality financial services that meet the present and future needs of our members,” Ford said in a statement. Ann Arbor News

 

Saginaw credit union placed under state conservator Valley State Credit Union in Saginaw has been placed into conservatorship by state regulators to address issues affecting the credit unions financial stability. Detroit Free Press

 

Credit union executive gets jail time “I get cruises, I get pickup trucks, I get boats.” Simmerman, 55, worked at Shoreline Federal Credit Union in Norton Shores, near Muskegon. Grand Rapids Business Journal

 

Business people United Federal Credit Union has named Brett Wier to the newly created position of vice president of lending. The Herald-Palladium

 

Clarkston Brandon Merges into Michigan State University Federal Credit Union At the time of the merger, Clarkston Brandon Community Credit Union was a federally insured, state-chartered credit union with 8,536 members and assets of $68.5 million, according to the credit union’s most recent Call Report. ncua.gov

 

Minnesota

Credit union leaders ‘Hike the Hill’ Amy Klobuchar of Minnesota (center, in blue blazer) meets with Minnesota’s credit-union leaders, including Dave Larson, Affinity Plus Federal Credit Union president/CEO, (fourth from right). Grand Rapids Herald-Review

 

North Carolina

Truliant accepting grant applications The fund provides financial education grants to school systems in communities where the credit union has Member Financial Center locations, including Asheboro. Asheboro Courier-Tribune

 

Nevada

Cumorah Credit Union seized by state regulators The credit union, with 15,000 members, had two offices in Las Vegas and two in Henderson. Las Vegas Sun

 

Clark County Credit Union reports capital base of $400 million The credit union reported a year-to-date loan growth rate of 17.2 percent in the second quarter, up from 12.13 percent in the first quarter. Las Vegas Review-Journal

 

New York

Former bookkeeper admits to stealing from Corydon credit union She kept two sets of records on the Credit Union’s data processing system to hide the theft. Radio Iowa

 

Community News for Aug. 16 today at First Source Federal Credit Union, 4451 Commercial Drive. The Observer-Dispatch

 

Wrapping up the summer with the 15th Annual Family Fun Friday The event each year plans to give away school supplies to 200 children, and if they run out of supplies kids get a voucher to come back and pick up supplies from the credit union after the event. WBNG Binghamton

 

ESL Federal Credit Union Names A New CEO He began at the credit union in 1991 as a senior financial analyst. WXXI News

 

Ohio

Ex-teller convicted of credit union theft Lucas County Common Pleas Judge James Bates placed Nicole Harris, 32, of the 4800 block of Weldwood Lane in Sylvania on community control for five years, ordered her to perform 80 hours of community service, undergo random drug testing, and pay $10,321 to the credit union. The Toledo Blade

 

Oklahoma

FAA Credit Union changes name to True Sky Credit Union CEO Steve Rasmussen said the new identity, inspired by the organizations aviation roots, positions the community credit union for continued growth throughout the Oklahoma City metro. Oklahoma News

 

Oregon

Credit union opens new headquarters, branch office The credit unions headquarters always have included a branch, and the new building is no different. Corvallis Gazette-Times

 

Pennsylvania

Dozens join lawsuit over Wendy's data breach The credit unions cite several former Wendys employees, including a pair of unnamed computer system engineers, who allege the company failed to prioritize data security even when issues were brought to management. The Columbus Dispatch

 

Second Lehigh Valley credit union hit by text message scam The Allentown-based People First Federal Credit Union posted a message for customers on its website Monday warning customers not to respond to the bogus text alert. The Morning Call

 

Sources: FBI probing failure of 6 area credit unions Chartered in 1950, Servco Federal Credit Union served various groups in Delaware, New Jersey, New York and Pennsylvania; Triangle Interests % Service Center Federal Credit Union served 99 members and had assets of $290,098, according to the credit union’s most recent Call Report. The Philadelphia Inquirer

 

Rhode Island

Dexter Credit Union will be merged into Navigant Credit Union Navigant will be the surviving credit union. Valley Breeze

 

South Carolina

Biz Bits: 5 signs your financial institution cares about you You want your bank or credit union to be there for you when you need them, wherever you need them, because that’s what peace of mind is all about. Spartanburg Herald-Journal

 

Credit union to open student-run branch in Greenville High School The institution said students will earn course credit and be responsible for managing and operating a fully functioning Greenville Federal Credit Union branch. Live 5 News Charleston

 

South Dakota

Dakota Star Competition Set For State Fair Dakotaland Federal Credit Union has locations in Huron, Volga, Brookings, Madison, Redfield, DeSmet, Mitchell and Woonsocket. Yankton Press & Dakotan

 

Tennessee

Chattanooga Hamilton County Retired Teachers Annual Picnic Is Thursday There will be a meeting followed by lunch, provided by the Chattanooga Area Schools Federal Credit Union. The Chattanoogan

 

Appalachian Community Federal Credit Union eyeing Virtual Teller Machines for parts of Tri-Cities region “The vision is that someone can come into one of these machines, sit down, pull up one of our employees and literally get anything and everything done that they could get done at a branch,” said Ron Scott, CEO of the community credit union. Johnson City Press

 

Texas

Cy-Fair Federal Credit Union welcomes new business development officer Cy-Fair Federal Credit Union, a $195 million credit union in southeast Texas, has hired Kenneth Jackson to lead its business development operations. The Conroe Courier

 

Virginia

Scenic Community Credit Union celebrates name change Ann Shutters, administrative assistant at Scenic Community Credit Union, said the change in name mirrors their members: the residents of Hamilton, Marion and Sequatchie counties in Tennessee, and Catoosa, Dade and Walker counties in Georgia. Nooga

 

'The craziest thing I've ever seen' Three years after the credit union collapsed, she is among a handful of members still awaiting a payout. The News & Advance

 

Washington

A credit union that's all in the family Sue Cain manages Our Family Social Credit Union from her tiny home office. CBS News

 

Wisconsin

Merger of Capital Credit Union, Pioneer Credit Union continues trend While the merger will be the states fifth so far this year, it will create Wisconsins eighth credit union with more than $1 billion in assets. archive.jsonline.com

 

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