Credit Unions
Banking Dive Trendline on Fraud and AML in banking
Faced with a surge in fraud cases targeting elderly customers, Fifth Third Bank and Star One Credit Union are striving to intervene early during ongoing scams by expanding anti-fraud teams, deploying detection tools, conducting employee training, and enhancing information sharing.
Florida credit union to acquire bank, rebrand itself
Gulf Winds Credit Union announced the acquisition of a Madison County community bank, with the transaction expected to receive regulatory approval in mid-2027 and integration completed by 2028. After the acquisition, the credit union will be renamed TruWorth, with assets of approximately $1.7 billion.
Washington credit union to buy Oregon bank
Gesa Credit Union announced the acquisition of Willamette Valley Bank. The transaction value was not disclosed, and shareholders will receive $43 to $45 in cash per share. The acquisition will push Gesa's assets beyond $7 billion and add four branches in the Salem market and a Portland loan office.
Fired NCUA board members seek quick ruling on reinstatement
Former NCUA board members Todd Harper and Tanya Otsuka, who filed a lawsuit after being removed by the Trump administration, are now requesting the D.C. Circuit Court of Appeals to expedite proceedings based on last week's Supreme Court ruling on federal agency removals. They argue that the NCUA, modeled after the Federal Reserve, should enjoy similar independence and be protected from arbitrary removal by the president. The Department of Justice opposes expediting, stating the case has been pending for nearly a year.
What Navy Federal found in its synthetic data pilot
Navy Federal Credit Union partnered with Qualtrics on a synthetic data pilot, finding that synthetic data excels in rational judgment and efficiency but has limitations in emotional understanding.
How Alaska’s Credit Union 1 serves ‘banking tundras’
Mark Burgess, CEO of Alaska Credit Union 1, refers to the state's areas without financial services as the 'financial tundra.' According to 2024 Federal Reserve data, Alaska has 39 banking deserts and 20 potential deserts, where 25% of the population resides. The credit union, with assets of about $1.5 billion and 15 branches statewide, will open a new branch in Homer this summer and is evaluating the possibility of expanding services in about 16 communities, including the use of interactive teller machines and remote loan officers.
White House taps Treasury assistant as NCUA’s next chair
The White House announced on Monday its nomination of John Cruze, Deputy Assistant Secretary at the Treasury Department, to serve on the board of the National Credit Union Administration (NCUA). If confirmed by the Senate, Cruze would succeed Kyle Hauptman as Chairman, with a term running until August 2, 2031. Cruze previously served in the office of House Majority Leader Steve Scalise and on the Senate Banking Committee.
Indiana credit union to buy Ohio bank
Goshen, Indiana-based Interra Credit Union announced Wednesday an agreement to acquire The Hicksville Bank of Ohio in an all-cash deal. The transaction, which awaits regulatory and shareholder approval, is expected to close by late fall. Financial terms were not disclosed.
How one credit union empowers employees in the fight against scams
As fraud and scams surge, Service Credit Union in New Hampshire helps employees and customers identify potential fraud signs by distributing warning checklists. The credit union's anti-fraud lead, Stephanie McNamara, introduced this approach during a March 12 webinar, emphasizing the importance of employee education.
Wisconsin credit union to buy local bank
Landmark Credit Union announced the acquisition of American National Bank-Fox Cities, with the deal expected to close in the second half of 2026, adding $419 million in assets and two branches. This is the fifth credit union-bank transaction this year and the third full-bank acquisition. Industry organizations have mixed reactions, with ICBA criticizing such deals as harming borrowers' interests, while credit union groups push back.