Skip to main content

Fed to Maintain Current Funds Rate

The Federal Reserve’s Open Market Committee announced Wednesday it will keep the target range for the federal funds rate at 0% to 0.25%....Fed to Maintain Current Funds Rate:

Comments

Post a Comment

Please no profanity or political comments.

Popular posts from this blog

NCUA Board Approves 11 Final Rules for Deregulation Project

Alexandria, VA (August 5, 2026) ― The National Credit Union Administration (NCUA) today finalized eleven rules that were proposed for changes through the Deregulation Project. This is the first round of final rules from the ongoing Deregulation Project which is an initiative to review NCUA’s regulations and ensure they are focused on credit unions’ safety, soundness, and resilience. The final rules include: This is an external link to a website belonging to another federal agency, private organization, or commercial entity. Surety and Guarantor Requirements – 12 CFR 701.20(c)(3) and 701.20(d) (Opens new window) This is an external link to a website belonging to another federal agency, private organization, or commercial entity. Limits on Loan to Other Credit Unions – 12 CFR 701.25(b) (Opens new window) This is an external link to a website belonging to another federal agency, private organization, or commercial entity. Service to Underserved Areas – IRPS 08-2 (Opens new window) This is...
Post a Comment
Read Complete Article HERE>»

Making the Most of the Final Five Years Before Retirement

  NATIONAL COUNCIL OF FIRST RESPONDER CREDIT UNIONS RETIREMENT READINESS Making the Most of the Final Five Years Before Retirement A practical planning guide for first responders, credit union volunteers, employees, and their families Five years before retirement is an important checkpoint. It is the time to confirm what you have saved, understand the income you can expect, and decide whether your retirement plans match the life you want to lead.   1. Review Your Retirement Savings Start by taking a fresh look at your retirement accounts, personal savings, investments, and other assets. A retirement calculator can help estimate whether you are on track and show how additional saving during the next five years may strengthen your plan.   2. Identify Every Source of Retirement Income List the income you may receive in retirement, including pensions, Social Security, retirement-plan withdrawals, invest...
Post a Comment
Read Complete Article HERE>»

Senate, 51-47, has confirmed John Crews to the NCUA board

WASHINGTON—The U.S. Senate, 51-47, has confirmed John Crews to the NCUA board, clearing the way for him to succeed Kyle Hauptman and return the agency to a single-member board following the Trump Administration's removal of Democratic board members Todd Harper and Tanya Otsuka earlier this year. Maintaining the foundational stability of the credit union system Supporting efficient, risk-based regulation that accounts for institutional size and operational differences Preparing for technological advancement while safeguarding member assets Encouraging the growth of new credit unions to serve underbanked and military communities Preserving an open, accessible, and collaborative dialogue between the NCUA and the credit union movement Crews, who most recently served in the Treasury Department, has said his priorities include reducing regulatory burden for smaller credit unions, encouraging innovation and supporting the chartering of new credit unions, while maintaining the safety and s...
Post a Comment
Read Complete Article HERE>»

What’s Ahead for U.S. Economy? Here’s What One Former Fed Chair is Saying

 WASHINGTON–Former Federal Reserve Chairman Ben Bernanke, who headed the central bank during the 2008 financial crisis, is now warning that the United States is headed for a situation similar to that of the 1970s, when Americans were losing their jobs but still facing higher prices at the grocery store and at the pump. Ben Bernanke “Even under the benign scenario, we should have a slowing economy,” Bernanke told the New York Times in an interview in conjunction with his new book, “ 21st Century Monetary Policy: The Federal Reserve From the Great Inflation to Covid-19 ,” which is scheduled to publish today. “So, there should be a period in the next year...
Post a Comment
Read Complete Article HERE>»

New Consumer Due-diligence Requirements Mean Credit Unions Have to Change Bank Secrecy Act (BSA) Procedures

Starting May 11, 2018, credit unions and other financial institutions are required to have new procedures in place when it comes to customer/member due-diligence, primarily involving “beneficial owners” and “legal entity” members, reminded CUNA. But the trade association reported that the new requirements do not mean credit unions have to update member information on a continuous or periodic basis. “The rule does not require credit unions to update member information on a continuous or periodic basis. The updating requirement is event-driven and only occurs as a result of detecting unusual activity through normal monitoring,” CUNA stated. The new procedures required by May 11, 2018, are: Procedures to identify and verify beneficial owners of legal entity members.  Procedures for making and maintaining a record of all the identification and verification information collected for beneficial owners of legal entity members.  Appropriate risk-based procedures for...
Post a Comment
Read Complete Article HERE>»

New CEO Named at SF Fire CU

  In San Francisco, – SF Fire Credit Union has appointed Robert Kassab as its president and chief executive Officer. Kassab, who has served as the $1.6-billion credit union’s CFO and most recently as Interim CEO, will lead the organization as it builds on 75 years of community service and pursues an ambitious strategy for growth and member impact, the credit union said in a statement. Robert Kassab “SF Fire Credit Union has a 75-year legacy of doing right by its members, and I take that responsibility seriously,” Kassab stated. Kassab joined SF Fire Credit Union in 2022 as CFO, where he played a central role in strengthening the institution’s financial foundation and positioning the credit union for long-term growth. His appointment as CEO follows a period of interim leadership, during which he worked closely with the board to develop a strategic vision for the credit union’s future, according to SF Fire. An Institution That ‘Deserves Them Back’ “SF Fire Credit Union was built on ...
Post a Comment
Read Complete Article HERE>»

Fed Governors Signal Smaller Rate Increases Coming

WASHINGTON–There is a growing chorus among Federal Reserve governors that the central bank will be slowing it pace of rate increases when the Federal Open Markets Committee meets next on Feb. 1. Christopher Waller Among those who have signaled the days of 50 - and 75-basis point increases are over is Federal Reserve Governor Christopher Waller, who said he believes it’s time to slow the pace of increases—but not eliminate them. If the forecast proves true, it will mark the end of the rapid increases that took place during 2022 as the Fed sought to tamp down high inflation. Central bankers are now “entering a new phase that is focused more on how high-inter...
Post a Comment
Read Complete Article HERE>»

Houston Texas Fire Fighters Federal Credit Union Video

One of the discussions at NCOFCU's Denver conference was, "how do you attract members?" Here is an example of how Houston Texas Fire Fighters Federal Credit Union does it.
Post a Comment
Read Complete Article HERE>»

Sunday Reading - We Hold These Truths to Be Self-Evident

We Hold These Truths to Be Self-Evident .  The Declaration of Independence is the founding document that formally announced the American Colonies' break from British rule. Adopted on July 4, 1776, it laid the philosophical and moral foundation for American self-governance, asserting that individuals possess inherent rights and that governments must be accountable to the people. While it didn't create a government or legal framework, the Declaration marked the birth of the United States as a sovereign nation. >  Hear why the Continental Congress decided to declare independence, how the text took shape...
Post a Comment
Read Complete Article HERE>»

CU*South Reports 13 Core Conversions

Be sure to stop by their booth in Seattle to congratulate them! FAIRHOPE, Ala.– CU*SOUTH , a CUSO, announced it closed its conversion calendar for 2018 with a record-setting 13 core conversions. “More and more credit unions are opting for the agility and security of a cloud-based core platform,” said Starla Honea, VP of operations at CU*SOUTH. “They’re leaving the old legacy systems operated by the ‘Big-4’ banking software vendors and taking control of their future through ownership and collaboration with their peers. “If you look at the Core Data Processing Guide published by Callahan,” added Honea, “you’ll see a total of 53 core vendors listed. Forty-six of those 53 lost market share and a couple held even. Only five core providers increased the number of credit unions served – and of those five, three offered the CU*BASE solution.” Derrick Smith, COO of CU*South, said the CUSO offers its CU*Base platform to credit unions throughout the Southeastern U.S. He...
Post a Comment
Read Complete Article HERE>»