Firefighter Credit Union Newsroom

From shaping the industry’s approach to data to framing the conversation around key industry issues, here’s a look at the impact we’ve made — and what’s to come Aaron Passman Let’s take a trip back in time. It’s Monday, April 1, 1985. You’re headed home from work at the credit union, one of more than 10,000 nationwide. You’re sitting behind the wheel of a Chevy Cavalier — the top-selling car in America at the time — with “We Are The World” piping out of the speakers. Not surprising, as it’s the No. 1 song in the country. You’ve got to make a stop at the grocery store, where the price of eggs has dropped to about 50 cents a dozen — roughly 20 cents cheaper than one month prior — but you’re already starting to think ahead to the weekend. Maybe you’ll head to the theater for “Police Academy 2,” and see what all the fuss is about — after all, it’s the most popular movie in America. But tonight you’re planning to sit down for the NCAA championship game to see whether Villanova can pull off ...

SCOTTSDALE, Ariz.—The standalone Zelle app is no longer available for sending or receiving money. Users are now encouraged to enroll through a participating bank or credit union’s app to continue using the peer-to-peer payment service, PYMNTS reported. Zelle had announced in an Oct. 31  blog post  that it would make this change, and it completed the move as of Tuesday (April 1), according to a frequently asked questions  page  on its website PYMNTS said/ “More than 2,200 banks and credit unions across the U.S. now offer Zelle through their mobile app or online banking site,” the company said on the FAQ page. “As a result of this growth, in October of 2024, we announced that we are removing the ability for users to send or receive money using the Zelle app starting April 1, 2025.” PYMNTS noted that the page advised users of the Zelle app to visit a “find your bank” page on its website to see if their bank or credit union offers Zelle; to...

According to a recent Worldpay study, digital payments are rapidly becoming the preferred choice worldwide. The research highlights significant shifts in consumer behavior and payment preferences, driven by technological advancements and the growing acceptance of cashless transactions. Key findings from the study reveal that digital payments now account for a substantial portion of global transactions. Mobile wallets, contactless payments, and online banking are gaining traction, reflecting consumers' desire for convenience and speed. This trend is especially prominent in regions like Asia Pacific, where mobile payment adoption is leading the charge. The study also emphasizes the importance of security in fostering consumer trust in digital payments. As fraud concerns continue to rise, businesses must prioritize robust security measures to protect customer information and enhance the payment experience. Moreover, the transition to digital payments is not just about c...

With adjustable-rate mortgages back in fashion, credit unions are educating members about the ins and outs of these products, dispelling misunderstandings along the way. With housing stock low, home prices high, and interest rates showing no signs of coming down, many credit unions are turning to adjustable-rate mortgages to help would-be borrowers find a home. ARM loans gained a bad reputation after the 2008 housing crisis and the Great Recession, but credit union leaders insist that with the right education and a clear understanding of how the product works, adjustable-rate mortgages can be an ideal solution for would-be homeowners. The Big Picture53% of those who don’t own a home believe homeownership is out of reach, according to a study from Northwestern Mutual . 58% of millennials feel this way, but roughly half of baby boomers and Gen X share the sentiment. According to Federal Reserve data, the average price of a home topped $510,000 at the end of 2024. That’s 32% higher than f...

MCLEAN, Va.--The 30-year fixed-rate mortgage averaged 6.65% this week, a slight decrease from last week's 6.6, Freddie mac reported. “The 30-year fixed-rate mortgage ticked down by two basis points this week,” said Sam Khater, Freddie Mac’s chief economist. “Recent mortgage rate stability continues to benefit potential buyers this spring, as reflected in the uptick in purchase applications.” Freddie Mac noted: The  30-year FRM  averaged 6.65% as of March 27, 2025, down from last week when it averaged 6.67%. A year ago at this time, the 30-year FRM averaged 6.79%. The  15-year FRM  averaged 5.89%, up from last week when it averaged 5.83%. A year ago at this time, the 15-year FRM averaged 6.11%.

The Federal Reserve, often referred to as the Fed, is the central banking system of the United States. Established in 1913 by the Federal Reserve Act, the Federal Reserve serves several crucial functions in the U.S. economy. Here are the main aspects of the Federal Reserve:  Visit NCOFCU's YouTube channel for more. "Video Mini's" The NCOFCU "Video Minis" are a series of concise 2-3 minute video presentations designed to deliver valuable insights and knowledge on key topics relevant to credit unions. Each video focuses on a specific subject, providing viewers with essential information in a brief and engaging format. These mini-presentations cover a range of subjects. Perfect for busy professionals seeking quick yet impactful content, the Video Minis make it easy to stay informed and enhance your credit union's operations and member services. Join us in exploring these informative and dynamic learning opportunities!