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“Celebrating 25 Years of Service: Unite, Ignite, and Empower” “We train and support volunteer leaders of credit unions serving first responders to run stronger, more effective institutions.” “Great things happen when credit unions serving first responders come together. Our face-to-face and on-line interaction is the platform where collaboration begins, and GREAT ideas are generated.”
Tuesday, October 20, 2026
Announcing NCOFCU's 2027 Executive Leadersh
Six Board Meetings, But Monthly Rules? NCOFCU Credit Unions Seek Answers From NCUA
WASHINGTON--As implementation of the Credit Union Board Modernization Act (CUBMA) is underway, the National Council of First Responder Credit Unions (NCOFCU) has written to the NCUA to call for clarification on several issues.
The NCUA in August wrote that CUBMA, which allows eligible federal credit unions to hold as few as six board meetings per year rather than meeting every month, is “self-executing” and can be implemented once a federal credit union amends its bylaws.
However, while credit unions begin to implement, existing regulations and guidance from the agency still assume monthly meetings, which raises questions about reporting requirements, board approvals, and other credit union responsibilities, NCOFCU said.
NCOFCU asked the agency to provide clarification about monthly financial statements, Suspicious Activity Report notifications, loans to credit union officials, and investment reporting requirements.
“Credit unions want to know what information must still be provided to the board each month, what actions can wait until the next meeting, and what matters can be handled by a board committee or another process,” wrote Grant Sheehan, CEO | NCOFCU.
The letter outlines several questions and asks the agency to provide answers so that credit unions may utilize the flexibility afforded to them by CUBMA.
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Saturday, October 17, 2026
Emergency Response Times Soar by 15 Minutes in New York City as EMTs Abandon the Profession
New York City’s emergency response times have more than doubled over the last decade, according to a new report by the New York City Comptroller.
New Yorkers facing life-threatening situations have to wait four minutes longer than in 2016 as the response time for FDNY ambulances has risen from nine minutes 35 seconds to 13 minutes nine seconds, the report found. The average response time to non life-threatening emergencies has more than doubled from 13 minutes 45 seconds in 2015 to 28 minutes 33 seconds over the same period.
And response times are one minute and 48 seconds longer for life-and-death situations than last year.
The response times are getting worse, the report stated, because there are fewer emergency medical technicians to call upon. Fire Department EMTs are being forced out of the profession due to stagnating wages amid the high cost of living in New York, it found.
“These response times are completely unacceptable and they are only getting worse,” City Councilmember Joann Ariola said in a statement to The Sun. “A solution needs to be hammered out immediately, because every day the lives of New Yorkers are at risk.”
In the last seven years, “approximately 4,300 EMTs and paramedics left their titles” according to the report — an attrition rate more than double that of the firefighters they work with. While the Fire Department of the City of New York counts 8,170 firefighters on staff, the department currently has just 2,540 EMTs.
At the same time, the number of calls is growing, further stretching their numbers.
While first-year firefighters earn just over $54,000, the fire department’s EMTs start on under $44,000. The Comptroller’s office is recommending that EMTs are paid the same as firefighters to staunch the loss of emergency medical workers.
Boosting EMT pay to match firefighters would cost New York City taxpayers $289 million per year, or $1.23 billion for the next EMT union contract, covering 2023 to 2027.
Representatives for the Mayor’s Office did not immediately respond to a request to questions about whether the city would pick up the bill or not. The news comes as recent poll numbers suggest the mayor has not met his promise to lower New York’s soaring cost of living. A forthcoming survey by Honan Strategy Group has found that 46 percent of respondents said they were likely to leave the city in the next five years due to affordability concerns.
“The Department is currently engaged in a challenging period of increasing response times,” FDNY spokesperson Amanda Farinacci said in a statement to The Sun. “We know this is unacceptable and we are working tirelessly to reverse this trend.”
Some of the cost to pay EMTs more “could potentially be offset by operational savings” including less overtime pay and reduced training costs from retaining more workers, according to the report.
The New York Fire Department responds to significantly more medical emergencies than fires. In fiscal year 2026 the FDNY handled approximately 25,000 fires, but dispatched ambulances to more than 1.1 million medical emergencies.
The frequency of emergencies also appears to be increasing, with fire department EMTs answering 22.9 percent more life-threatening calls last year than in 2015.
Published:
Updated:
Thursday, October 15, 2026
NCOFCU First Responder Credit Union Academy
www.ncofcu.org/frcua
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Remember, you're not alone with NCOFCU.org
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Lyn Lynch – National Council of First Responder Credit Unions Volunteer of the Year
Lyn's distinguished career as a firefighter is equally impressive. She was one of the first eleven women hired by the San Diego Fire-Rescue Department and spent her entire 28-year career in fire operations. She became the department's third female Captain and retired with the respect and admiration of her colleagues. Throughout her career, she was an active leader in several professional fire service organizations, including Women in the Fire Service, where she was a highly regarded speaker and panelist at regional and national conferences.
Before joining the fire service, Lyn worked in the banking industry, where she served as an internal auditor and assistant branch manager. She earned a bachelor's degree in Business and Finance, an Associate of Science degree in Fire Science, and is a California Certified Company Officer. Her unique combination of financial expertise and operational leadership has made her an invaluable asset to our credit union.
What sets Lyn apart is her wisdom, sound judgment, and unwavering dedication. During Board meetings—especially when we face complex or challenging decisions—her thoughtful insights consistently help guide the Board toward the right outcome. She approaches every issue with professionalism, integrity, and a genuine commitment to serving our members and ensuring the long-term success of the credit union.
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Remember, you're not alone with NCOFCU.org
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Friday, October 9, 2026
The Statutory Lien and How to Use It.
Have you ever had a member who refused to make payments on a loan? Well, a federal credit union can use a statutory lien to claim a member's shares and dividends as security for an unpaid debt.
Under the Federal Credit Union Act and Section 701.39 of NCUA’s Rules and Regulations
credit unions are granted a statutory lien in its member’s shares and
dividends. This allows credit unions to use funds deposited in a member’s
account to satisfy outstanding defaulted loans. However, the lien comes with several
requirements and limitations.
Impressing the lien
In order to first use the statutory lien, credit unions must
first impress or attach the lien to a member’s account. Under section 701.39(c), a federal credit union may
impress or attach a lien on an account held at the credit union in one of three
ways:
• Provide notice to the member
through account opening documentation;
• Provide notice of the lien through loan documentation
that is signed or otherwise acknowledged by the member; or
• Through a bylaw amendment or policy, of which the
member is given notice.
Under Section 701.39(a)(4), notice means:
“written notice to a member disclosing, in plain language,
that the credit union has the right to impress and enforce a statutory lien
against the member's shares and dividends in the event of failure to satisfy a
financial obligation, and may enforce the right without further notice to the
member. Such notice must be given at the time, or at any time before, the
member incurs the financial obligation”
Enforcing the lien
Once the statutory lien has been impressed, no further
notice is required to enforce the statutory lien and, unless otherwise
prohibited by federal law, a credit union may debit a member’s account and
apply the funds against the member’s outstanding financial obligations to the
credit union. However, credit unions should keep in mind that Section 701.39 only allows for enforcement if the
member has defaulted. In other words, credit unions cannot preemptively use the
statutory lien but must wait until the member has defaulted. However, unlike a
garnishment, credit unions do not need to obtain a judgment in order to enforce
the statutory lien.
Limitations of the lien
There are several notable limitations on the statutory lien.
The first is that while section 701.39(b) provides credit union priority
over other creditors, this priority can be superseded by both federal and state
law. Credit unions may also want to note that their ability to impress and/or
enforce the statutory lien can be superseded by federal law. For example, under
Regulation Z, Section 1026.12, card issuers are generally
prohibited from offsetting any funds held on deposit against an obligation owed
on a credit card account. Thus, a federal credit union may not use its
statutory lien power against a member’s shares and dividends to satisfy a credit
card debt.
Credit unions may also not freeze an account. In a 2002 legal opinion letter, the NCUA noted that
credit unions could not freeze a member’s account as a means of enforcing the
statutory lien. Credit unions should also be aware that the statutory lien only
applies to funds in a member’s accounts held at the credit union. The statutory
lien does not apply to other types of collateral securing a loan, such as a
vehicle. Lastly, the statutory lien only applies to defaulted loan debts; it
does not apply to losses from a non-credit account, such as due to a returned
check.
Here is a link to the NCUA’s Examiner’s Guide that provides a
discussion on exceptions to the statutory lien (see page 33).
Proposed call report changes add stablecoin account codes.
Proposed changes to the NCUA’s 5300 Call Report published Friday would create new account codes for reporting stablecoin-specific information. Comments are due to the NCUA by Dec. 8,
The notice summarizes four categories of data collection, adding:
- Eight new accounts for reporting custody of reserve assets for permitted payment stablecoin issuer (PPSI) third parties.
- Nine new accounts for reporting cryptographic key custody and control.
- Five new accounts for reporting direct exposure to PPSIs. This information will enhance NCUA’s off-site supervision.
- Four new accounts for reporting payment stablecoins held on the credit union’s balance sheet.
The NCUA indicates this information will enhance the agency’s offsite supervision.
The proposed changes would result in quarterly data collection, a move that is expected to align with publication of final rules to implement the GENIUS Act for credit unions. However, it does not preclude the possibility of additional reporting obligations which are present in the NCUA’s stablecoin proposal. America’s Credit Unions will remain engaged with the NCUA as it finalizes its stablecoin rulemakings.
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Remember, you're not alone with NCOFCU.org
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Lynn Firefighters FCU to Merge Wth First Responders CU
Seeking a Merger Partner, Lynn Firefighters FCU Calls on First Responders
BOSTON—First Responders Credit Union and Lynn Firemen’s Federal Credit Union have announced plans to merge, creating a combined organization with approximately $470 million in assets and 13,500 members serving first responders and their families across Massachusetts.
The merger is expected to be completed in March of 2027.
First Responders CU, which has nearly $450 million in assets, will absorb $20-million Lynn Firemen’s FCU. The merger is subject to member and regulatory approvals, with both existing branches in Dorchester and Lynn remaining open and employees of both institutions being retained.
“The opportunity to expand First Responders Credit Union’s support for firefighters, while making our credit union stronger for the members we already serve, makes this a seamless unification of two strong organizations,” said Danielle Milner, president and CEO of First Responders CU. “Our credit unions share a common history and shared belief that first responders deserve an organization dedicated to the unique needs of them and their families. Coming together with Lynn Firemen’s Federal Credit Union will preserve the highest levels of service to our firefighter communities while strengthening the resources available to them.”
“Lynn Firemen’s Federal Credit Union has proudly served firefighters in Boston’s North Shore for more than ninety years,” said CJ Gheringhelli, board chairman of Lynn Firemen’s FCU, which serves approximately 1,500 members. “Our goal has always been to take care of those who serve. Now our two organizations will be stronger together and ensure that members have expanded access to the financial technology, products, and support they need, while maintaining the values and priorities that have historically supported Massachusetts’ firefighting communities.”
Thursday, October 8, 2026
NCOFCU Celebrates 25 Years with Highly Successful Annual Conference in Tucson, Arizona
National Council of First Responder Credit Unions Celebrates 25 Years with Highly Successful Annual Conference in Tucson, Arizona
Credit union leaders from across the nation gather to celebrate a milestone anniversary, exchange ideas, and prepare for the future of first responder credit unions.
MIAMI, FL – October 8, 2026 – The National Council of First Responder Credit Unions (NCOFCU) proudly celebrated its 25th Anniversary Annual Conference, held September 28 through October 2, 2026, at the beautiful Loews Ventana Canyon Resort in Tucson, Arizona. The event brought together credit union executives, board members, industry leaders, business partners, and exhibitors for five days of education, networking, collaboration, and celebration.
Under the theme “Looking Towards the Future,” this year's conference marked an important milestone in NCOFCU's history while reinforcing its commitment to strengthening credit unions serving America's firefighters, law enforcement officers, emergency medical personnel, and other first responders.
The conference featured an outstanding lineup of speakers, industry experts, and interactive discussions addressing some of the most pressing issues facing credit unions today. Topics included leadership and governance, regulatory developments, emerging technologies, cybersecurity, membership growth, financial performance, and long-term sustainability.
One of the highlights of this year's program was the introduction of expanded CEO and Board of Directors Roundtable Discussions. These interactive sessions gave participants an opportunity to exchange experiences, discuss common challenges, and explore practical solutions with peers who understand the unique responsibilities of serving first responder communities.
“The success of this year's conference was about much more than celebrating 25 years,” said Grant Sheehan, Founder and CEO of NCOFCU. “It was about bringing people together who share a common purpose. The conversations, exchange of ideas, and willingness to help one another are what make this organization so special. We may represent different credit unions from different parts of the country, but we all share the same commitment to serving those who serve and protect our communities.”
The anniversary celebration also provided an opportunity to reflect on NCOFCU's beginnings in 2001 and its evolution into a national organization dedicated to supporting the volunteer leaders and professional staff of credit unions serving first responders.
Beyond the educational sessions, attendees enjoyed opportunities to renew friendships, establish new professional relationships, and experience the beauty and hospitality of Tucson. From the opening reception to the golf outing, local excursions, and memorable closing celebration at the Coyote Corral, the conference offered a balance of professional development and camaraderie.
NCOFCU also recognized the important contributions of its speakers, exhibitors, sponsors, and business partners, whose participation helped make the anniversary conference a success.
“After 25 years, one thing remains clear: the greatest strength of NCOFCU is its people,” Sheehan added. “Our members are not simply attending another industry conference. They are building relationships, sharing knowledge, and helping each other become stronger credit unions. That spirit of cooperation is what has carried us through our first 25 years, and it is what will guide us into the future.”
Looking Ahead to Amelia Island in 2027
Building on the enthusiasm and success of the Tucson conference, NCOFCU is already preparing for its 2027 Annual Conference, September 27–30, 2027, at the Omni Amelia Island Resort & Spa in Amelia Island, Florida.
The 2027 event will continue the Council's commitment to delivering relevant educational programs, meaningful peer-to-peer discussions, valuable industry partnerships, and opportunities for credit union leaders to learn from one another.
NCOFCU invites credit unions serving first responders throughout the United States and Canada to become involved and experience the benefits of belonging to a national organization dedicated to their unique needs.
“We are proud of what we have accomplished over the past 25 years, but we are even more excited about what lies ahead,” Sheehan concluded. “Our mission continues to grow, our opportunities continue to expand, and our commitment to first responder credit unions has never been stronger. We look forward to welcoming everyone to Amelia Island in 2027.”
About NCOFCU
Founded in 2001, the National Council of Firefighter Credit Unions, Inc., doing business as the National Council of First Responder Credit Unions (NCOFCU), is a nonprofit organization dedicated to the education, support, and advancement of credit unions serving firefighters, law enforcement officers, emergency medical personnel, and other first responders.
Through its annual conferences, First Responder Credit Union Academy, educational resources, advocacy efforts, and business partnerships, NCOFCU helps credit union executives, directors, and volunteers strengthen their institutions and better serve their members.
Media Contact:
Grant Sheehan, Founder & CEO
National Council of First Responder Credit Unions (NCOFCU)
Email: info@ncofcu.org
Phone: 305-783-5433
Website: www.ncofcu.org
2027 Conference: www.ncofcu.org/2027-omni
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www.ncofcu.org/frcua ===================================================================== Remember, you're not alone with NCOFCU.org ...
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Lyn Lynch (center) – 2026 National Council of Firefighter Credit Unions Volunteer of the Year Lyn has served as a volunteer with the San Di... -
New York City’s emergency response times have more than doubled over the last decade, according to a new report by the New York City Comptro... -
Newark Firemen Federal Credit Union Hello from New Jersey, I want to thank everyone for their concern and phone ca... -
Fed Hikes Rates The Federal Reserve raised interest rates for the first time since 2023 yesterday, announc... -
MADISON, Wis.–International events and domestic inflation have led CUNA’s economists to adjust their economic outlook for this year and next...
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LANSING, Mich. — As inflation remains high and the Fed continues to push up rates, Lansing Area FCU (LAFCU) has introduced a 10/6 adjusta...
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Seeking a Merger Partner, Lynn Firefighters FCU Calls on First Responders BOSTON—First Responders Credit Union and Lynn Firemen’s Federal Cr...
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NAME-CHANGE PRESS RELEASE National Council of Firefighter Credit Unions Announces Name Change to Reflect Expanded Mission Tucson, AZ —... -
First Responder Credit Union Academy www. ...
