Page 37 - Cuj Content News Today

Rick Patel succeeds John Faust, who led Diamond for nearly 30 years.

VyStar Credit Union and Heritage Southeast Bank postponed to June 30 the deadline to close their merger. The $196 million deal, announced a year ago, was originally slated to close by December 2021.

The National Credit Union Administration issued only one prohibition order in March, barring Ashley Davis, a former employee of an institution in New Jersey.

The National Credit Union Administration’s effort to require succession planning has raised questions about whether the agency is micromanaging smaller institutions that may not be able to absorb the added cost of compliance.

The proposed combination of Vermont State Employees Credit Union and New England Federal Credit Union would create a $3 billion-asset institution. Some past leaders worry that the deal will erase one institution's local touch.

Thomas Kevin Miller will succeed Barry Nelson, who is retiring in mid-April.

Corrie Rozell, who has been interim chief executive since January, will adopt the role permanently.

By putting younger, more diverse talent in executive roles, CEOs of institutions such as Kaua'i Federal Credit Union in Hawaii and OnPath Federal Credit Union in Louisiana are taking steps to better represent the communities they serve.

Susan Romero, who was chief executive of Winslow Santa Fe Credit Union, has been sentenced to 26 months and ordered to pay nearly $2.4 million in restitution.

Banks and credit unions that use Individual Taxpayer Identification Numbers to onboard customers without Social Security numbers are seeing sizable growth in loans and deposits from people who might otherwise be unbanked.