Firefighter Credit Union Newsroom

President Trump yesterday issued an executive order that, among its provisions, disbands agency advisory committees on community banks and credit unions as part of the administration’s effort to trim the size of government. The order — Commencing the Reduction of the Federal Bureaucracy — eliminates the FDIC’s “Community Bank Advisory Council” [actually the Advisory Committee on Community Banking] and the Consumer Financial Protection Bureau’s Academic Research Council and Credit Union Advisory Council. The order also calls on administration staff to identify other “unnecessary governmental entities and federal advisory committees that should be terminated on grounds that they are unnecessary.” [The order did not list the CFPB’s Community Bank Advisory Council, which has been dissolved, according to the bureau’s website.] The community banking committee was one of three FDIC advisory committees. In 2024, its membership consisted of 18 community bankers who advised the agency on a range...

  By  Corey Wrinn ,  Rivel Banking Research For many consumers, credit cards (not checking or savings accounts) are now the core of their relationship with their bank or credit union. In fact, almost two-thirds of consumers do no other business with their credit card issuers. In 2025, banks and credit unions need to work harder to make the credit card the beginning of the customers’ journey, not the end. 2025 is shaping up to be a landmark year for credit cards, driven by shifting consumer preferences and evolving business needs. Recent Federal Reserve data shows credit card applications hitting their highest levels since pre-pandemic times, with approval rates climbing steadily. Major issuers like Chase and American Express reported record-high application volumes in Q4 2024, indicating sustained momentum into 2025. Rivel’s new research digs deeper into the reasons why credit cards are in demand right now and how financial institutions can advocate for new business, to t...

https://www.ncofcu.org/first-responder-credit-union-academy Succession planning is more than just a regulation – it’s a good business practice. By  Mark Arnold | February 19, 2025 at 09:00 AM Credit/Shutterstock One of the NCUA’s most recent points of emphasis is succession planning. Amending their regulations on succession planning, the NCUA is essentially saying credit unions must identify, develop and retain key personnel across the organization. In other words, credit unions must prepare now to pass the baton to the next level of leadership. But succession planning is more than just a regulation. It’s good business practice. As Jim Collins says in “Built to Last: Successful Habits of Visionary Companies,” “One responsibility we considered paramount is seeing the continuity of capable senior leadership.” In his exhaustive study of organizations that have the most continual success, on which the book is based, Collins found that great companies build leadership from within. He go...