Credit Unions: Page 5
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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 -
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TrendlineM&A
President Donald Trump’s reelection was predicted to yield loosened regulation. But tariff volatility and economic uncertainty has thrown a wrench into an expected boom in mergers and acquisitions.
By Banking Dive staff -
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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 -
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ColumnSpate of August deals doubles 2021's bank acquisitions by credit unions
The latest tie-ups in Florida and Illinois are the fourth and fifth in roughly two weeks. The question remains whether a resurgent COVID-19 caseload will bring dealmaking to another halt.
By Dan Ennis • Updated Aug. 23, 2021 -
Memphis-based Orion Federal Credit Union to buy Financial Federal Bank
The deal, which would nearly double the $1 billion-asset Orion Federal’s size, is the seventh such deal involving a credit union purchasing a bank to be announced this year.
By Anna Hrushka • Aug. 12, 2021 -
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Overdraft alternativesDigital-only credit union latest institution to scrap overdraft fees
Alliant’s move follows a similar one made by Ally Bank in June, and comes as a growing number of financial institutions are revamping their overdraft policies amid pushback from Democratic lawmakers.
By Anna Hrushka • Aug. 5, 2021 -
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Michigan credit union aims to buy Florida bank in year's 5th such tie-up
The roughly $97 million deal, expected to close in the fourth quarter, would boost Lake Michigan Credit Union's Sunshine State footprint to 19 branches and give Pilot Bank shareholders $6.25 in cash per share.
By Dan Ennis • June 18, 2021 -
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California credit union lays out its 2nd merger of 2021
Bakersfield-based Valley Strong announced its intention to combine with Stockton's Federal Center Credit Union to form a $3.2 billion-asset entity. Valley Strong is also merging with Fairfield's Solano First Federal Credit Union.
By Dan Ennis • June 1, 2021 -
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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 -
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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 -
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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 -
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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
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