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STURGIS, S.D.–Credit unions in two states have announced merger plans.

TYSONS, Va.—The PenFed Foundation has namedOutpatch as the winner of its Ignition Challenge Powered by Purefy for military entrepreneurs of color.

SCOTTSDALE, Ariz.– The American Association of Credit Union Leagues (AACUL) has adjourned its winter conference after electing members its board and executive committee as well as hearing from speakers on a number of topics.

WASHINGTON—A new Federal Trade Commission data spotlight shows that in the first nine months of 2021, consumers reported losing $148 million in scams where gift cards were used as the form of payment. That amount is more than was reported in all of 2020, the FTC said.

SCOTTSDALE, Ariz. — Cornerstone Advisors, which provides solutions for driving revenue and profitability improvements for mid-size financial institutions and fintech firms, has acquired Orlando, Florida-based Next Step, Inc., which provides technology consulting services to banks and credit unions.

NEW YORK—Americans to date are spending a little less this holiday season, but still more than they can afford, a new report indicates.

NEW YORK– Inclusiv said it has partnered with the UNH Carsey School Center for Impact Finance to create the Community Development Financial Institution (CDFI) Learning Center program.

PANAMA CITY, Panama–New research by NordVPN that analyzed more than four-million card details available on the dark web found 1.5-million of those belonged to Americans.

WASHINGTON—Representatives from more than a dozen NAFCU-member credit unions, along with NAFCU staff, recently met with Treasury’s Office of Financial Institutions to discuss digital assets and climate-related financial risks as it pertains to the credit union industry.

TOKYO–The Bank of Japan is reporting it had offered payments to nearly 90% of the country's regional lenders—including credit unions--under a program designed to revitalize the financial services sector by encouraging mergers and cost cuts.