Page 4 - Cuj Content News Today

The combination of VyStar and 121 Financial Credit Union — both based in Jacksonville, Florida — would have more than $14 billion of assets.

Joe Evica, who has been employed with the Wisconsin-based insurance firm since March 2019, was terminated on April 4 for allegedly violating company policies.

The volume of bank acquisitions — either by credit unions or community banks — has dropped considerably so far in 2023. Experts, including prospective buyers, cite a combination of ongoing regulatory and economic pressures.

The Gardner-based institution hired Mark Hettinger, who worked the past 19 years at First Alliance Credit Union, as its new chief executive.

Executives and financial strategists are considering derivatives as a hedge against rising interest rates.

More credit unions are diversifying their investments and accessing federal funding from multiple sources to shore up against risk.

As more potential buyers began inquiring about the availability of QCash, WSECU decided the time was right to offload the credit union service organization it launched in 2015.

Nathan Cox, who was most recently chief lending officer at Travis Credit Union, will replace Brooke Van Vleet-Pearson as the credit union's chief executive.

Subordinated debt issuances and asset-backed securities have helped institutions of all asset sizes weather recent market uncertainties and fuel campaigns for growth, according to executives and investment experts.

Lofty fertilizer and equipment costs are forecast to cut into profits this year. Farmers are expected to seek loans to cover higher expenses, but bankers are likely to be cautious in granting credit given recessionary pressures.