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Some community banks and credit unions worry that by hiring out-of-state workers to fill their many job openings, as other employers have done, they could erode community ties.
The National Credit Union Administration approved four new credit unions in 2021 — the most in six years — after revamping the application process.
Banks and credit unions that cater to members of the armed forces are partnering with fintechs or patenting their own tools to help users convert currency, borrow money and handle financial matters in environments with unreliable internet service.
Branches across the country have closed temporarily, or switched to drive-thru service, as infections and quarantine rules have forced many bank workers to stay home.
The National Credit Union Administration has given its first guidance on handling Bitcoin and other digital assets in an effort to encourage credit unions to work with fintechs to offer new services.