Credit Unions: Page 4
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SavvyMoney helps consumers bolster credit scores, banks bolster loan portfolio
The integrated credit solution has 1,055 banking partners, and that number "grows daily," its CEO said.
By Gabrielle Saulsbery • March 29, 2023 -
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Greenlight’s new B2B offering brings kid-focused banking to traditional firms
Over half a dozen firms, including Morgan Stanley, WaFd Bank and Community Financial Credit Union have partnered with the neobank to offer its services to their customers.
By Anna Hrushka • March 29, 2023 -
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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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Technology gap puts Black banks at risk: report
Black banks, which help expand credit to underserved areas, risk losing customers if they continue to fall behind their nonminority peers in terms of digital banking offerings, a researcher said.
By Anna Hrushka • March 9, 2023 -
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Credit union trade group preemptively blasts Durbin bill
NAFCU said a bill to curb the processing of credit card transactions would reduce credit union members’ revenue from swipe fees and limit loyalty programs, fraud protection and free checking.
By Lynne Marek • Feb. 27, 2023 -
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Credit unions’ 72-hour cyberattack reporting window to take effect Sept. 1
“Credit unions must be included in conversations about critical infrastructure,” NCUA Chair Todd Harper said. The agency aims to lay out additional guidance in the coming months.
By Rajashree Chakravarty • Feb. 17, 2023 -
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Quontic, NYDIG vet aims to bridge ‘translation layer’ between banks, fintechs
Patrick Sells, a former chief innovation officer, wants to speed up the time it takes for banks to find a fintech whose services match their needs.
By Anna Hrushka • Feb. 8, 2023 -
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Biden unfairly lumps overdraft with ‘junk fees,’ trade groups say
“Instead of mischaracterizing an entire industry, policymakers ... should work in tandem with banks” to expand consumers’ access to financial tools that will help them weather economic challenges, CBA CEO Lindsey Johnson said.
By Anna Hrushka • Feb. 8, 2023 -
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Florida woman sues MidFlorida Credit Union over alleged race discrimination
A 70-year-old retired teacher was arrested after an issue stemming from a $600 ATM deposit. However, the lawsuit and police report paint vastly different portraits of the incident.
By Gabrielle Saulsbery • Feb. 7, 2023 -
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Michigan credit union eyes bank in sector’s 1st tie-up of 2023
Old Mission Bank’s two locations will expand 4Front Credit Union’s Upper Peninsula footprint and boost its asset total by roughly $130.2 million.
By Rajashree Chakravarty • Jan. 11, 2023 -
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2022 tied the record for credit union-bank deals, after all
Illinois-based Land of Lincoln Credit Union's proposed acquisition of Colchester State Bank marked the year’s 16th such tie-up, and the fifth in December.
By Rajashree Chakravarty • Jan. 5, 2023 -
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December M&A flurry propels credit union-bank deal tally to near record
Alabama One's acquisition of the First Bank of Wadley marks the fourth proposed bank purchase by a credit union in two weeks and the 15th of 2022.
By Dan Ennis • Dec. 21, 2022 -
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Late surge in credit union-bank tie-ups pushes 2022 past 2021
The year's 14th deal — and third struck in 10 days — has roots in Georgia, home to the first two bank acquisitions by credit unions in 2022.
By Dan Ennis • Dec. 19, 2022 -
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Michigan credit union to acquire Florida bank in year’s 13th such tie-up
The deal marks the third purchase of a Florida bank by a Michigan credit union in the past 18 months. It also means 2022 has seen as much credit union-bank deal activity as last year.
By Rajashree Chakravarty • Dec. 15, 2022 -
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Apex, Unifimoney partner on digital investment solutions for banks
Oklahoma-based First Fidelity Bank is the first customer to go live with the services offered by the partnership.
By Rajashree Chakravarty • Dec. 14, 2022 -
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Iowa credit union buys bank in year’s 12th such tie-up
Financial terms of the Veridian Credit Union’s proposed purchase of American Investors Bank and Mortgage were not disclosed. But the deal would allow the credit union to access Minnesota.
By Rajashree Chakravarty • Dec. 7, 2022 -
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Minnesota credit union to buy Wisconsin bank in 11th such tie-up of 2022
Michael Bell, a leading bank M&A attorney, predicted a record “25-plus” deals between credit unions and banks in 2022 when the year began. Some potential deals, however, appear to be “pausing until 2023.”
By Dan Ennis • Nov. 3, 2022 -
(2024). [Photo]. Retrieved from Federal Reserve.
Digital banks, credit unions should factor into merger reviews: Fed’s Bowman
Potential combinations should hinge on risk analysis, not deposit market share, in an update to 1995 guidelines, the central bank governor said Wednesday.
By Dan Ennis • Sept. 29, 2022 -
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GreenState scraps acquisition of Nebraska bank after judge denies appeal
“We are still coming to Nebraska. This simply pushes our timetable back a year,” the credit union’s CEO said, adding it may expand into Omaha organically.
By Dan Ennis • Aug. 22, 2022 -
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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 -
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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 -
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 -
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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 -
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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 -
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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
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