Aaron Passman
American Banker
Lansing, MI, United States
Contact Aaron
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Past articles by Aaron:
New law opens Washington credit unions to unlimited public deposits
The legislation, which takes effect in July, follows a 2019 law that modernized the state's credit union statutes. → Read More
Will credit unions find NCUA membership rule worth the trouble?
Regulators recently eased field of membership rules to promote growth of federal credit unions. A handful of institutions are taking advantage of the changes to recruit more members, but some may find the process too cumbersome. → Read More
NCUA outlines cybersecurity focus for remainder of 2021
The agency will hold an exercise this summer related to emerging fraud risks and one board member suggested Congress should once again consider allowing NCUA to oversee third-party vendors – a measure which would cost the regulator roughly $2 million per year. → Read More
Small Kansas City credit union to merge into CommunityAmerica
Burns & McDonnell Credit Union holds just $27 million of assets and is seeking approval to merge into CommunityAmerica, which serves the KC metro region and is the largest credit union in Kansas and Missouri. → Read More
Altana Federal Credit Union puts succession plan in motion
Rhonda Diefenderfer, who has led the Billings, Mont., credit unon for 20 years, will retire in May and be succeeded by the credit unions busines vice president of business lending. → Read More
Week ahead: NCUA board meeting, House to vote on SAFE Banking Act
Key legislation to protect banks and credit unions serving the legal marijuana industry looks set to move forward in the House this week. → Read More
Former Dallas Postal Credit Union CEO dead at 92
Calvin Philips led the credit union – which today operates as Neighborhood CU – from 1958 until he retired in 1988, and remained active on its board long after his retirement. → Read More
Credit unions sound alarm on COVID-19 vaccination scams
Credit unions are warning members that fraudsters are trying to prey on them by asking for data in exchange for appointments that turn out to be bogus. → Read More
Pair of Cincinnati credit unions name new CEOs
The retirement of the chief executive at Cincinnatio Ohio Police FCU has resulted in a new hire there and at nearby TruPartner Credit Union. → Read More
New leadership in place at Greater New Orleans FCU
Janet Sanders has retired after 13 years at the helm of the $142 million-asset credit union. She is succeeded by the credit union's longtime executive vice president, Shelley Sanders. The two are not related. → Read More
Pandemic leads Sharonview FCU to rethink branch layout, features
The South Carolina credit union has pivoted to an open-concept model that allows for social distancing, along with a walk-up window to serve members outside the branch if lobby access is restricted for any reason. → Read More
Assets at Dow Chemical Employees' Credit Union pass $2 billion
The Michigan-based institution has positioned itself for additional growth by making it easier to qualify for membership. → Read More
Jeff Davis Teachers FCU seeks merger approval after fruitless CEO search
The Louisiana credit union holds just $3.5 million of assets and could not find a successor for its retiring chief executive. → Read More
SEFCU welcomes 1,500 for COVID vaccination clinic
The New York institution is believed to be the first credit union to open its doors to the general public as part of the mass vaccination effort. → Read More
AMOCO Federal Credit Union OK'd for field-of-membership expansion
Regulators have approved the credit union's request to add 477 underserved census tracts to its field of membership, allowing it to reach roughly 2.5 million consumers. → Read More
MSUFCU hits $6B of assets with more growth planned
Michigan State University Federal Credit Union has doubled in size since 2015, thanks in part to expanding its branch network and field of membership. → Read More
More states poised to overhaul their credit union charters
State-level groups are pushing measures intended to improve the operating environment for the industry, such as increasing flexibility with field of membership, and providing parity with banks and federally chartered institutions. → Read More
FedChoice CEO to retire at year-end
David Bunch joined the Maryland credit union as a member in 1979 and has worked there since 1987. He was appointed to lead the organization in 1996. → Read More
CU Realty Services welcomes new CEO as rebrand beckons
The credit union service organization's newest chief executive took the helm April 1 and a new name for the company will debut in June. → Read More
Tattoos, Pride parades, 'Beer Thirty': Welcome to Kasasa
The Texas fintech embraces a progressive culture and has taken steps during the pandemic to maintain a spirited vibe even as employees work remotely. → Read More