Page 29 - Cuj Content News Today

The combination of the Cornerstone League and the Heartland Credit Union Association is the latest in a series of mergers changing the national makeup of the credit union industry.

For many credit unions, it's important to not only have underrepresented voices in the C-suite — they must also make sure others can follow a career path to the same roles.

Tom DeWitt will step down as president and chief executive in August, concluding more than 31 years with SFFCU.

It appeared Orion Credit Union had a green light to purchase Financial Federal Bank. But the Tennessee Department of Financial Institutions has once again asked a judge to stop the deal, claiming depositors would be "irreparably harmed" if it goes through.

Participants in the sale of banks to credit unions may need to do a better job of due diligence and gauging the receptivity of their regulators to such deals, experts say in response to the cancellation of VyStar Credit Union's agreement to buy Heritage Southeast Bank.

The boards of the Cornerstone League and the Heartland Credit Union Association are moving forward with due diligence to possibly combine the organizations, which serve credit unions in five states.

Bruce Leighton will step down as president and chief executive in September.

Net income at America's Credit Union in Washington state jumped by about $5 million after it wound down an indirect auto loan program and deployed technology that automates decision-making.

Fumbi Chima, who was previously Adidas' chief information officer, has introduced robotic process automation and other systems to make it easier for the fourth-largest U.S. credit union to work with fintechs and improve member service.

OneAZ Credit Union built a vendor diversity database, based on a program from Arizona State University, to guide its spending at small businesses. It plans to allow other financial institutions to access this system as well.