Ken McCarthy is a reporter at Credit Union Journal, and a former reporter for American Banker and S&P Global Market Intelligence.
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Credit unions have announced 11 deals for banks so far in 2023, five short of 2022's total.
By Ken McCarthyDecember 28 -
As the Latino population in the U.S. expands, so does the business case for banks and credit unions that want to tailor services for this audience.
By Ken McCarthySeptember 6 -
Michigan State University Federal Credit Union will open five branches in the Windy City to serve the more than 10,000 members and potential members living there. This marks the first time that the institution has expanded beyond its home state.
By Ken McCarthyJuly 21 -
The average credit union member had saved $286 less in March compared to a year earlier. That was the largest per-member drop in credit union history, fueled by rising costs of living and more aggressive competition.
By Ken McCarthyJuly 14 -
Collins Community Credit Union in Cedar Rapids, Iowa, said Monday that it laid off 38 employees, primarily in its mortgage lending division. In September, GreenState Credit Union in North Liberty, Iowa, cut 42 employees, or about 5% of its workforce.
By Ken McCarthyOctober 25 -
Multiple factors have slowed residential sales, tightening the market for home loans for banks and credit unions.
By Ken McCarthyMay 5 -
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.
By Polo RochaDecember 30 -
Home loans accounted for the bulk of the industry’s lending gains in 2020, but inventory shortages in some markets and an uneven economic recovery may dim prospects this year.
By Ken McCarthyFebruary 9 -
The company disclosed that an internal review of a now-discontinued loan program found that employees engaged in misconduct tied to income verification and requirements, among other things.
By Ken McCarthyMarch 9 -
MVB in West Virginia will gain a 47% stake in the partnership in exchange for contributing its mortgage unit's assets to the new company.
By Ken McCarthyMarch 3