USAlliance Federal Credit Union in Rye, New York, has agreed to merge with Marriott Employees' Federal Credit Union in Bethesda, Maryland, to create a nearly $3 billion-asset organization.

The acquisition, which was originally expected to close at the end of last year, ultimately took more than 18 months to receive regulatory approval. It is now expected to close on Dec. 1.

The firms trimming payroll include lenders, a mortgage insurance giant, an iBuyer and an online notarization software provider.

That amount of consolidation would be a leap from the previous three-decade high of 33 in 2018, according to Stratmor.

New York-based broker platform Prevu currently offers buying and selling services in the Northeast, Texas and the West Coast.

Michelle Seitz tells attendees at American Banker's Women in Banking NEXT awards to take advantage of the networking and mentoring available to them that she didn't have access to at the start of her own career.

Collins Community Credit Union in Cedar Rapids, Iowa, said Monday that it laid off 38 employees, primarily in its mortgage lending division. In September, GreenState Credit Union in North Liberty, Iowa, cut 42 employees, or about 5% of its workforce.

The addition of investment bank Capstone Partners and the wider geographic footprint that resulted from the acquisition of TCF Financial helped drive a 58% increase in net income during the third quarter.

Almost two-thirds of banking executives believe the U.S. will see its highest interest rates this cycle in the first half of next year. And close to 60% of executives said they are concerned the Federal Reserve is hiking rates too quickly.

The company previously announced it would also close its consumer-direct operations, which relied heavily on refinance activity.