Page 52 - Cuj Content News Today

Financial institutions say it would require them to overhaul their payments technology, deprive them of revenue and force them to pass added costs on to merchants and consumers.

The $8.7 billion-asset credit union has cut its charge for overdrafts from $25 to $5, following similar reductions by other financial institutions.

The Burlington-based institution has extended its charter to provide services to all counties in Vermont.

Since the pandemic began, many members of small credit unions have defected to banks that offer better digital products and services. The credit unions are focusing on in-person banking or catering to small businesses and other niches to rebuild their customer base.

The closing date for the Florida credit union’s purchase of Heritage Southeast Bank was pushed into 2022 to allow more time for regulatory approval.

With two new prohibitions, the total now stands at 22 for the year so far.

GreenState Credit Union has announced three bank deals this year. Its CEO says purchasing banks can be easier than merging with rival credit unions, though the state's banking regulator has made it difficult to do so within Iowa.

The National Credit Union Administration has approved Capital Federal Credit Union in Lubbock, Texas, to serve people of color and underserved communities in its state.

The Concord-based credit union has hired Anthony Emerson as its next president and chief executive. He was most recently leader of IC Federal Credit Union in Massachusetts.

Both Florida State University Credit Union and Florida Department of Transportation Credit Union are based in Tallahassee.