Three cooperatives in Maryland, Tennessee and California name new top executives.
Bert Hash Jr., president/CEO of Municipal Employees Credit Union of Baltimore, has been named the recipient of the 2014 Pete Crear Lifetime Achievement Award.
MECU's Bert Hash has tripled the credit union's assets in 15 years and was CU Times' Trailblazer CEO of the Year in 2007.
Maryland's financial regulator and the FDIC have approved the purchase of Advance Mutual Savings Bank in Baltimore by Municipal Employees Credit Union of Baltimore.
MECU awaits only member vote to buy Advance Bank of Baltimore.
Credit union advances one more step toward what is becoming a trend: credit unions buying banks.
The $1.2 billion Municipal Employees Credit Union of Baltimore said it paid $1.5 million to members on June 30.
Purchase would mark fourth credit union takeover of bank in past year and a half.
Municipal Employees Credit Union also opens second student-run branch at local high school.
Bert J. Hash Jr., president/CEO of the $1.2 billion Municipal Employees Credit Union of Baltimore, was named as the 2012 CUES Outstanding Chief Executive.