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U.S. credit unions gained their largest total chunk of the vehicle lending market in the past five years, at more than 25% in the second quarter, by underpricing their rivals. Banks are still ahead, but just barely.
Ann Marie Nelson has tendered her resignation as president and CEO of Adventure Credit Union in Grand Rapids. The company named Amanda Garabedian, its chief operating officer, as interim CEO.
By offering financial education through local crisis centers and community groups — and following through with access to credit — many credit unions are building trust with people who had been wary of working with mainstream institutions.
The National Credit Union Administration continues to distribute recovered funds to credit unions across the country, but some in North Dakota believe they are being disregarded and deprived of more than $10 million.
The $310 million-asset Colorado Credit Union in Littleton, Colorado, plans to merge with the $68.5 million-asset White Crown Federal Credit Union in Denver.