Page 23 - Cuj Content News Today

Jennifer Borowy, Michigan First Credit Union's chief operations officer, will take over as chief executive when Michael Poulos, the longtime CEO, retires in October.

The $10.7 billion-asset credit union said 42 employees were terminated, primarily in commercial banking and mortgage lending-related positions, after the refi business "dried up."

Verve, a credit union, has offered its pumpkin spice loan since 2014 as part of a full menu of themed products.

SCU Federal Credit Union in Brockton, Massachusetts, named Glenn Parsons its new president and CEO. He succeeds James Carlson, who is stepping down after 22 years in the position.

The $536 million-asset credit union said the investment will "improve lives and close the racial and gender opportunity gaps," in Alabama, Arkansas, Louisiana, Mississippi and Tennessee.

U.S. credit unions gained their largest total chunk of the vehicle lending market in the past five years, at more than 25% in the second quarter, by underpricing their rivals. Banks are still ahead, but just barely.

Ann Marie Nelson has tendered her resignation as president and CEO of Adventure Credit Union in Grand Rapids. The company named Amanda Garabedian, its chief operating officer, as interim CEO.

By offering financial education through local crisis centers and community groups — and following through with access to credit — many credit unions are building trust with people who had been wary of working with mainstream institutions.

The National Credit Union Administration continues to distribute recovered funds to credit unions across the country, but some in North Dakota believe they are being disregarded and deprived of more than $10 million.

The $310 million-asset Colorado Credit Union in Littleton, Colorado, plans to merge with the $68.5 million-asset White Crown Federal Credit Union in Denver.