Skip to main content

Some Good News about Deferred Compensation | NAFCU Services Blog

Credit unions and their board members should consider this information and the potential outcome of the IRS’ final issuance as they consider adopting a 457(b) deferred compensation plan. Recently, the IRS issued an advance notice of proposed rulemaking that includes a new facts-and-circumstances test for determining if an entity is a “governmental entity” or an “instrumentality of a governmental entity.” The conclusion, as applied to an example credit union........ Some Good News about Deferred Compensation | NAFCU Services Blog

Comments

Post a Comment

Please no profanity or political comments.

Popular posts from this blog

Fresh First Quarter 5300 Data Is Live. How Do You Compare?

  CALLAHAN RESOURCE Fresh First Quarter Data Is Live. How Do You Compare? The latest NCUA call report data is out, and while you’ve been focused on day-to-day priorities, market shifts might be affecting how you reach your goals. That’s why credit union leaders are already benchmarking performance to spot trends and inform their next moves. Ready to join them? Schedule a free performance analysis session with Callahan to gain a clear view of where you stand. Schedule Now
Post a Comment
Read Complete Article HERE>»

Both Sides of The Desk!

With over 50 years of experience in the credit union sector, I have had the privilege of observing and participating in its evolution from various vantage points. My journey has taken me from serving as a dedicated volunteer holding critical leadership roles, including serving on the supervisory committee, as director, and as board chairman, culminating in my tenure as CEO for 12 years and now founder and President/CEO of the National Council of Firefighter Credit Unions . This extensive background has enabled me to " Sit On Both Sides Of The Desk ," blending operational expertise with strategic oversight. In this blog post, I want to share how this dual perspective has enriched my understanding of credit union dynamics and fostered more effective governance. By leveraging the insights gained from years spent navigating both the intricacies of daily operations and the broader strategic objectives, I have witnessed firsthand the transformative power of collaboration, communi...
Post a Comment
Read Complete Article HERE>»

Fed Chair To Senate: Tariffs May Trigger Persistent Inflation, Slowing Rate Cut Plans

WASHINGTON— Federal Reserve Chair Jerome Powell told a U.S. Senate panel Wednesday that while the Trump administration’s tariffs may lead to a one-time spike in prices, the risk of more persistent inflation is significant enough for the central bank to proceed cautiously with any further interest rate cuts, Reuters reported. Although economic theory suggests tariffs are typically a temporary shock to prices, “that is not a law of nature,” Powell said, explaining that the Fed wants greater clarity on the scope of the tariffs and their impact on pricing and inflation expectations before making additional moves on borrowing costs, Reuters said. "If it comes in quickly and it is over and done then yes, very likely it is a one-time thing," that won't lead to more persistent inflation, Powell said. But "it is a risk we feel. As the people who are supposed to keep stable prices, we need to manage that risk. That's all we're doing," through holding rates steady ...
Post a Comment
Read Complete Article HERE>»

The Case for Sharing a CEO Between Credit Unions

  Embracing Collaboration: The Case for Sharing a CEO Between Credit Unions In recent years, credit unions have faced numerous challenges, from regulatory pressures to evolving member expectations. As many seasoned leaders retire, smaller credit unions often find themselves at a turning point. In this landscape, one innovative solution is gaining traction: sharing a CEO between two credit unions. This approach not only addresses financial constraints but also fosters collaboration and enhances service delivery. The Rationale Behind Sharing a CEO 1. Financial Sustainability One of the most pressing concerns for small credit unions is maintaining financial health amid rising operational costs. A shared CEO model alleviates the financial burden of hiring and compensating a full-time executive. By splitting salary and benefits, both credit unions can allocate resources more effectively, allowing for investment in member services, technology, and community initiatives. ...
Post a Comment
Read Complete Article HERE>»

Why Avoiding "I" in Marketing Presentations Matters

  Grant Sheehan, CCUE | CCUP | CEO NCOFCU  You know how things just stick with you? Well, many years ago, my marketing professor started off his class with the following, and it has never left me.  The Power of Perspective: Why Avoiding "I" in Marketing Presentations Matters In the world of marketing, effective communication is paramount. One valuable piece of advice that often comes from experienced instructors and industry veterans is the importance of avoiding the use of the word “I” in presentations and reports. At first glance, this may seem counterintuitive; after all, many individuals feel that personal anecdotes and experiences can enhance a message. However, upon deeper reflection, the reasoning behind this approach reveals itself as essential for achieving impactful communication. Building Objectivity When marketing professionals present their findings or insights, it’s important to establish credibility. Utilizing data, surveys, and feedback from cu...
Post a Comment
Read Complete Article HERE>»