Monday, August 10, 2020

Don't send you members to a bank!

 

Does the following scenario occur at your credit union? 

If it does, we have a solution for you!

 

Join our growing list of first responder credit unions.


A member comes in into your credit union and wants to know if you will loan them a couple of hundred thousand $$$ to buy a building, or can you loan him some seed money to start a new business or purchase equipment for the company they currently own, and you say, “the credit union doesn't do those kinds of loans”. 

Does this sound familiar? How many times do you and your staff say NO and literally tell a member to “go somewhere else”

Learn how to stop it now! Watch HERE

Well, now, you have another option.  CU First Responders Finance (CUFR)
CU First Responders Finance, LLC (CUFR) is a partnership between the National Council of Firefighter Credit Unions, Inc. (NCOFCU), and Biz Lending & Insurance Center, Inc. to provide business lending origination programs to NCOFCU member credit unions.
  • CUFR will provide you with a turnkey operation so you can provide commercial and member business loans to your members.
 For more information call (561) 393-3770 or visit financeresponders.com.
Grant Sheehan CEO
305-951-3306


Thursday, August 6, 2020

Tunnel to Towers Foundation

The mission of the Stephen Siller Tunnel to Towers Foundation is to honor the sacrifice of firefighter Stephen Siller, who laid down his life to save others on September 11, 2001. We also honor our military and first responders who continue to make the supreme sacrifice of life and limb for our country.
  • In response to COVID-19, Tunnels to Towers has established the COVID-19 Heroes Fund, pledging to support frontline health care workers by providing meals, personal protective equipment (PPE) and, should tragedy strike, financial relief through temporary mortgage payments on homes of health care workers who lose their lives and leave behind young children.
  • Through the Fallen First Responder Home Program, Tunnel to Towers aims to pay off the mortgages of fallen law enforcement officers and firefighters killed in the line of duty that leave behind young children.  The Foundation’s goal is to ensure stability and security to these families facing sudden, tragic loss
  • The Stephen Siller Tunnel to Towers Foundation builds mortgage-free Smart Homes for our most catastrophically injured veterans. Each home is designed to address the unique needs of each individual.
  • The Gold Star Family Home Program, launched in September 2018, honors the legacy of those who made the ultimate sacrifice while serving our country. The Foundation will provide a mortgage-free home to surviving spouses with young children.

Wednesday, August 5, 2020

Syracuse Fire Department Credit Union Announces Andrea M. Thune as Chief Executive Officer



The Board of Directors of Syracuse Fire Department Employees Federal Credit Union announces the appointment of Andrea M. Thune as the next Chief Executive Officer effective Monday, August 3, 2020. 

Andrea will assume the position following the retirement of current CEO Jeffrey Fragale. 

“After an extensive search, the Board of Directors is pleased to announce the appointment of Ms. Thune to this position.  She brings a wealth of knowledge and experience to our credit union.” Said John T. Cowin, Chairman of the Board of Directors.  

Andrea has been in the credit union industry for twenty years, serving in a variety of management capacities, particularly in lending. She is also a Certified Credit Union Financial Counselor (CCUFC) and a Trustee for the New York Credit Union Foundation. 

Monday, August 3, 2020

Richards & Associates CPA's Weekly News Summary




Weekly News Summary -  August 3, 2020


Press Release
For Immediate Release
Weekly News Summary
Hello NCOFCU Members,

Here are some things that were in the news last week. Please share these articles with your Supervisory Committee and Board of Directors. If you missed previous editions of the weekly news, summaries of those can be viewed at our archive

Have a great week!
Mike Richards, CPA     
  

The Callahan Credit Union Auditors Guide is now available. Our firm exists exclusively to serve the Credit Union Movement, and that shows in the ratings attached. Thanks to all of our clients!

Callahan & Associates: 2020 Credit Union Auditors Guide  Read More

Economic and Industry Issues

Knowledge is the key to effective corporate governance. Staying abreast of economic and industry issues affecting your credit union will prepare you for those responsibilities.

Credit Union Trends Report July 2020 (May 2020 Data)   Read More

The Impact of COVID-19 on Internal Audit   Read More

Savior found for shuttered Richmond printing plant's credit union  Read More

Regulatory and Accounting Issues

Regulatory and accounting issues are changing all the time. Staying abreast of those changes is an important part of the corporate governance.  

Board Approves Field of Membership Rule Changes   Read More

NAFCU-supported PPP forgiveness bill introduced in the House  Read More

Fed holds rates, notes slowing economic activity  Read More

 Fed task force outlines ways to address coin circulation issues  Read More

Fraud Awareness

As you will see from reviewing these articles, fraud can happen in any credit union. Staying vigilant is the key to preventing your credit union from being the next victim.   

Advisory on Cybercrime and Cyber-Enabled Crime Exploiting the Coronavirus Disease 2019 (COVID-19) Pandemic  Read More 

Serious Concerns of Potential Fraud in Economic Injury Disaster Loan Program Pertaining to the Response to COVID-19  Read More

NCUA Issues Prohibition Notice - July 2020  Read More

Logan Woman Pleads Guilty to Embezzling More than $200,000 from Credit Union  Read More




If this email was forwarded to you by another subscriber, you can join our mailing list and have the free Weekly News Summary sent directly to you. Subscribe now

Visit us at richardscpas.com 

Thursday, July 30, 2020

Economic and Industry Issues




Weekly News Summary -  July 30, 2020


Press Release
For Immediate Release
Weekly News Summary
Hello NCOFCU Members,

Here are some things that were in the news last week. Please share these articles with your Supervisory Committee and Board of Directors. If you missed previous editions of the weekly news, summaries of those can be viewed at our archive

Have a great week!
Mike Richards, CPA     
  

The Callahan Credit Union Auditors Guide is now available. Our firm exists exclusively to serve the Credit Union Movement, and that shows in the ratings attached. Thanks to all of our clients!

Callahan & Associates: 2020 Credit Union Auditors Guide  Read More

Economic and Industry Issues

Knowledge is the key to effective corporate governance. Staying abreast of economic and industry issues affecting your credit union will prepare you for those responsibilities.

CUNA economic and credit union forecast - July 8, 2020

Is Today Like The Great Recession Or The Great Depression?  Read More

How Credit Unions' Competition Could Change   Read More

Credit Union Leaders Share What's Working During Uncertain Times  Read More

Weekly claims turn higher as coronavirus jobs crisis inflicts more damage  Read More

Regulatory and Accounting Issues

Regulatory and accounting issues are changing all the time. Staying abreast of those changes is an important part of the corporate governance.  

Berger calls for CU CECL exemption as FASB gets new chair  Read More

NCUA set to address FOM changes, CECL implementation  Read More

Credit Union Director Handbook  Read More 

Fraud Awareness

As you will see from reviewing these articles, fraud can happen in any credit union. Staying vigilant is the key to preventing your credit union from being the next victim.   

Former NYPD cop Joseph Guagliardo sentenced to more than 2 years for stealing $400K from MCU   Read More

Securing A Digital, Branch Or Network Transformation  Read More




If this email was forwarded to you by another subscriber, you can join our mailing list and have the free Weekly News Summary sent directly to you. Subscribe now

Visit us at richardscpas.com