John M. Parillo takes over the helm from Jim Warren who retires after 37 years of service in the credit union movement.

The California CU does not say how many former and current members' and employees' personal information may have been affected.

The combined Launch CU and Community CU of Florida would manage $2.7 billion in assets and serve more than 143,000 members.

If approved by shareholders and regulators, the proposed acquisition is expected to close during the second quarter of next year.

Church members were encouraged to open Navy Federal accounts where PPP loan funds were later deposited and allegedly paid for the pastor's lavish lifestyle.

The fund's objective is to provide financial assistance, resources and expertise to help new credit unions thrive.

Arrha CU seeks permission from the federal agency for members to vote on whether to consolidate with Pittsfield Co-operative Bank.

If approved by regulators and shareholders, the deal is expected to close in 2025.