Credit Unions: Page 5
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Scott Olson via Getty Images
Iowa credit union proposes buying Illinois, Nebraska banks
GreenState Credit Union's deals to buy Oxford Bank & Trust and Premier Bank would represent the third and fourth bank takeovers by a credit union this year. The transactions are expected to close by the fourth quarter.
By Dan Ennis • May 26, 2021 -
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 Anna Hrushka • May 17, 2021 -
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 Anna Hrushka • May 4, 2021 -
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 Anna Hrushka • April 1, 2021 -
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 Anna Hrushka • Updated June 23, 2021 -
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 Dan Ennis • Feb. 5, 2021 -
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 Anna Hrushka • 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 Dan Ennis • Jan. 26, 2021 -
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 Anna Hrushka • Jan. 7, 2021 -
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 Anna Hrushka • Nov. 13, 2020 -
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 Anna Hrushka • Nov. 9, 2020 -
Fotolia
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 DiveAcquisition 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 Anna Hrushka • Oct. 6, 2020 -
Fotolia
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 Dan Ennis • Sept. 4, 2020 -
Fotolia
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 Dan Ennis • Aug. 31, 2020 -
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 Dan Ennis • Aug. 20, 2020 -
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 Anna Hrushka • Aug. 3, 2020 -
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 Dan Ennis • July 7, 2020 -
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 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
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