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Cheryl DeBoer will step down in early 2023 as president and CEO of the $2.7 billion-asset credit union, which has not yet named a successor.

Municipal Credit Union was first placed into the custody of the National Credit Union Administration in 2019, after its former chief executive was charged with fraud and embezzlement.

Community lenders may choose to stop serving small businesses rather than absorb the expense of collecting information on race and ethnicity under a proposal by the Consumer Financial Protection Bureau.

New England Federal Credit Union, the largest financial institution headquartered in the Green Mountain State, is combining with Vermont State Employees Credit Union to create an organization with $3 billion of assets.

The purchase of Vinings Bank in Smyrna, Georgia, is the year's first instance of a credit union buying a bank. There were 13 such acquisitions announced last year.

In the year's first instance of a credit union buying a bank, Georgia’s Own Credit Union in Atlanta has agreed to acquire nearby Vinings Bank. The Peach State is home to more than 300 banks, making it ripe for such deals.

Karen Church, who became chief executive in 1993, will step down on Feb. 25.

The credit union, founded in 1964 as the Conservative Baptist Credit Union, has changed its name to improve its appeal to prospective members.

The joining of Align Credit Union and Alltrust Credit Union is among the first of several deals in the pipeline where both institutions have more than $250 million of assets, as the ongoing pressures of the COVID-19 pandemic prompt more firms to pair up, experts say. Carmen Sylvester, Alltrust's CEO, will lead the combined organization.

The credit union plans to expand its suite of trust and estate services available to members.