Letter from the Chairman

WE DID IT! The coalition held its first convention and we had over 150 attendees. There are a lot of people to thank for all their hard work and commitment for a successful event and to start we need to thank the Boston Firefighters Credit Union lead by Bernie Winne. To put on a convention was new to most of our board members and Bernie’s experience proved invaluable to us. Thank you again Bernie.
    Looking back at the convention even the weather welcomed us to Boston in a season that is unpredictable. The government with its shut down didn’t stop us from enjoying the multitude of entertainment that Boston has to offer. In your comments it was obvious that we had met and even surpassed your expectations of what the convention should be like. We had good speakers and presenters with time for round table discussions.
    On the final day Lyn Lynch from San Diego won the IPad worth over $600.00. At the Friday night dinner we presented our first volunteer of the year award, which went to Pat Engel, he will also receive free registration at next year’s convention. We also commemorated the Percy Riley Jr. Scholarship fund with a plaque that was presented to the Richmond Fire Department Credit Union.
    We want to thank our sponsors for their support, and for their gifts that were raffled. As we prepare for the 2014 convention in San Diego our experience in presenting this convention will give us a good format to follow. We have selected the hotel and will now begin our search for speakers and presenters. Now that everyone is back home, mark your calendars for the next NCOFCU Annual Meeting & Conference October 8-11, 2014 San Diego CA.
    We welcome your comments and suggestions and hope you will share those thoughts with us either by the web site or a phone call. We want to contribute to your credit union by being a resource center where we can all share our success and failures with each another. It was obvious in our roundtable discussions we have a lot to share with each another. We will be watching on a national level for an opportunity for the coalition to step-up and present itself with support of an event that will give us national recognition. If there is an opportunity for such an action please let us know what is happening in your areas.

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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...

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

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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...

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

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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 ...

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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...

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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.

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NCUA Webinar on Changes to Military Lending Act Regulations

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

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