MECU in Baltimore paid members the first half of an annual cash bonus totaling over $4.2 million.

According to the FDIC, credit union owned Town North Bank had a tier one capital ratio of only 4.05% as of March 31, the last quarter before the bank sold its card processing division, TNB Card Services.

In response to a trademark infringement suit filed by Michigan First Credit Union, First Michigan Bank said the claims are without merit and it intends to defend its name.

The Connecticut Credit Union League announced this week it is broadening its two-year-old program to aid small credit unions.