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Banking | Finance 2025: BENTLEY, JEFF
With more than three decades of experience in consumer and commercial lending, Bentley came to Northwest Federal Credit Union in 2014 from Florida’s Achieva Credit Union as senior vice president of lending. Three years later, the board promoted him to lead Virginia’s sixth largest credit union. Northwest, which has some 250,000 members, reported about $4.07 […]
Banking | Finance 2025: SHOCKLEY, CHRISTOPHER M. ‘CHRIS’
Following its August 2024 acquisition of Roanoke-based Member One Federal Credit Union, Virginia Credit Union plans to fully integrate all Member One’s operations into VACU by spring 2026. Shockley remains president and CEO of the combined credit union. Last year, VACU reported about $6.85 billion in assets and nearly 490,000 members, making it the third largest […]
Banking | Finance 2025: GRIMM, ANDREW ‘ANDY’
When Grimm assumed leadership of Apple Federal Credit Union in 2017, it had 190,000 members and nearly $2.4 billion in assets. Today, it has nearly 270,000 members, 25 branches and $5.3 billion in assets. A sliver of that growth stems from a merger with Fairfax’s NextMark Credit Union, which was completed in January. Prior to the […]
Banking | Finance 2025: SCHOOLS, BRIAN
Over the decade that Schools has led the Virginia Beach-based credit union, Chartway has grown to nearly $3.1 billion in assets and 260,000 member-owners. With locations in Utah, Texas and Virginia, the credit union has more than 600 employees. Among new developments: Chartway opened a new East Beach branch in Norfolk in December 2024 and […]
Reimagining regulations
Banks and credit unions in Virginia are celebrating some early victories as President Donald Trump’s new administration has begun rolling back regulations and reconsidering the future of finance. “Under the new administration, there is a relook at a number of these policies that were objected to by the industry,” explains Atlantic Union Bankshares CEO John […]
Banks, credit unions revisit in-person banking strategies
A former Village Bank branch in Chesterfield County is now a Dunkin’ doughnuts and coffee shop, complete with a drive-thru. Roanoke’s former First National Bank building has found new life as a 54-room boutique hotel. In Hampton, the former Bank of Hampton Roads building is a doggy day care. It’s true that bank customers do […]
VACUL to merge with regional credit union group Jan. 1
Members of the Virginia Credit Union League and the League of Southeastern Credit Unions & Affiliates voted Thursday to approve the Virginia league’s consolidation with the regional organization. The merger will be in effect Jan. 1, 2025, the two organizations announced Friday. “Thanks to the support of the membership, we are embracing a powerful opportunity […]
On the ledger
This story has been updated since publication. With its 2023 purchase of Farmers Bankshares for $53 million, Suffolk’s TowneBank secured its leadership of the Hampton Roads banking market with a nearly 28% share. Truist Bank remains in second place at 23.72%, and the rest of the top five banks in the market are Wells Fargo, […]
VACU names Member One regional head for Roanoke, Lynchburg
Tim Rowe will be president of Virginia Credit Union division Member One’s markets in the Roanoke and New River valleys and Lynchburg, as the former Roanoke credit union integrates with VACU. Member One Federal Credit Union and VACU finalized their merger Aug. 1, creating a combined institution with 500,000 members and $7 billion in assets, […]
VACUL announces intent to merge with regional group
The Virginia Credit Union League has signed a letter of intent to consolidate with the League of Southeastern Credit Unions & Affiliates, the trade organization representing credit unions in Alabama, Florida and Georgia. Virginia credit unions will decide this fall whether to merge VACUL’s associations, foundations and service corporations with those of the LSCU, with […]
Merger mania
Banking mergers and acquisitions are picking back up again after the slowest year in recent history, and Virginia is no exception. Last year marked a modern low in merger and acquisition activity, with only 98 deals completed nationwide. That’s not just the lowest level of activity since the pandemic — it’s the slowest year since […]
CEO Hunt leaving Va. Credit Union League
Carrie Hunt is leaving at the end of the month as president and CEO of the Virginia Credit Union League, and Chief Operating Officer Karima Freeman will serve as interim head of the trade association, VACUL announced Tuesday. Hunt, a seasoned political lobbyist, is leaving to become chief advocacy officer of America’s Credit Unions, a […]
