Wednesday, April 30, 2014

“Early Bird Special” "We Are The Conference"

Don’t miss out on our conference “Early Bird Special”  which expires July 1st!
Fresh from a record breaking conference in Boston at the Westin Coplay Plaza, we remain invigorated and dedicated, and are looking forward in providing our attendees an excellent opportunity to network and take away some great ideas as to offering new products and services to their membership.
Mail In Registration

As is the case each year, our conference mission is to provide you the very best meeting experience possible. Best in terms of networking opportunities; best in terms of educational sessions; and best in terms of building relationships - of providing you sufficient opportunities to interact with other attendees! And year after year, we deliver! 

Travel Suggestions
Make your reservations EARLY! Plan to arrive by 3:00 p.m. on Wednesday, October 8, and depart after 4:00 p.m. on the 12th. This is an exciting Columbus Day weekend in San Diego . Rooms are limited and flights will book quickly! Westin Gaslamp Quarters
NCOFCU has partnered with American Airlines to provide attendees a 5% discount for NCOFCU's Annual Conference. This discount is valid off any applicable published fares listed for American Airlines, American Eagle and American Connection.
   1. Go to book your flight or call 800-433-1790 (Note: there is a reservation service charge for all tickets issued   by phone.)
   2. Place the Authorization Number 14H4BQ in the promotion code box or give it to the booking agent on the phone.
Special discounted rates are available through AVIS . For AVIS, please visit the Avis website or call 1-800-331-1600 and give the NCOFCU Avis Worldwide Discount (AWD) code  D031075

Monday, April 28, 2014

2 Ways To Ensure A Smooth Board Transition

Associate and emeritus positions prepare new members for board responsibilities and pass on institutional knowledge from veteran members.
By Sharon Simpson
meeting-800x800When BMI Federal Credit Union ($386.6M, Dublin, OH) faced the challenge of how to make the most out of board vacancies, it developed two programs geared toward facilitating a smooth succession and retaining the invaluable experience of long-time board members. The first program — an associate board member position — gives newcomers the opportunity to learn about credit union operations and board responsibilities before becoming a full-fledged board member while the second program — an emeritus board member position — allows experienced board members to stay involved and pass on important knowledge.
Read More >>> 2 Ways To Ensure A Smooth Board Transition - General Features - News | Credit Unions

Saturday, April 26, 2014

President/Chief Executive Officer - Dayton Firefighters Federal Credit Union at D. Hilton Associates, Inc. in Dayton, Ohio - Job | LinkedIn

Job description

Position Summary
Dayton Firefighters Federal Credit Union is seeking a seasoned professional; a motivational leader with a high degree of integrity who will emphasize the professional development of credit union employees. This is a hands-on management role that will require candidates to thrive in a team-oriented environment. The qualified executive will be responsible for leading and directing all organizational activities to provide a clear strategic vision and continue the credit unions’ philosophy of providing exceptional member service. Ideal candidates will have the ability to work with a collaborative Board of Directors in the execution of strategic initiatives and will possess a solid understanding of credit union operations, policies and regulations.

President/Chief Executive Officer - Dayton Firefighters Federal Credit Union at D. Hilton Associates, Inc. in Dayton, Ohio - Job | LinkedIn

Thursday, April 24, 2014

Credit Unions Must Elevate Mobile Aptitude - Mutual Mobile

Mobile paymentsIn the eyes of the customer, credit unions have always been perceived differently than large-scale banks. Despite offering all the services that customers have come to expect from their financial institutions, credit unions have been considered stymied by their traditional focus on small, regional communities.

I too have fallen victim to the perception that credit unions are limited by their regional focus. Though I conduct most of my transactions through my local credit union, I still feel the need to maintain accounts at larger banks for any financial needs while traveling (something I do a lot of in my job).

But why? In this day and age, anything I would need a physical location for can also be handled directly through my mobile device, essentially erasing the barriers previously established by geography. Mobile innovation has seeped into every facet of our lives, and banking shouldn’t be any different.

Although financial institutions seem stuck on the idea of maintaining Read More >>Credit Unions Must Elevate Mobile Aptitude - Mutual Mobile

Credit Unions Report Increasing Exam Scrutiny

By Michael Muckian  April 20, 2014
Enforcement actions by bank and credit union regulators increased during the first quarter of 2014.
The number of enforcement actions taken by bank and credit union regulators increased to 165 during the first quarter of 2014, according to an April 10 webinar by financial technology firm Continuity Control. That figure is up from 134 enforcement actions taken during the previous quarter.
Read More at; Credit Unions Report Increasing Exam Scrutiny

Monday, April 21, 2014

15 Ratios Credit Union Board Members Should Know | Credit Unions

If you would like to know your credit union ratios as discussed in this article compared to your peer group, just drop me an e-mail and I will send them to you compliments of "PEER-to-PEER".

15 Ratios Every Board Member Should Know

Key metrics to evaluate your credit union and bridge the gap between macro trends and micro performance. By Lydia Cole of 
In December, the NCUA passed a rule requiring Board members of federally insured credit unions to have a “working familiarity with basic finance and accounting practices.” The extent of financial literacy that volunteers must meet varies depending upon each credit union’s complexity, but there are basic concepts, definitions, and formulas every volunteer should know. To that end, is breaking down 15 ratios by providing definitions and describing how the ratios affect the balance sheet. For personalized information on your credit union, check out Callahan & Associates’ two-year financial comparison, available on CUSP Online.


1) 12-Month Loan Growth

Loan growth is the year-over-year change in outstanding loans. These are loans the credit union holds on its books, not the loans it makes over the course of the year. In 2010 credit unions granted $84.5 billion in first mortgage loans. Because of the low-rate environment, many credit unions sold these loans to secondary market vehicles to manage asset-liability risk. As such, these loans do not appear on credit union balance sheets. Advanced Metric: If outstanding shares grow faster than loans, the loan-to-share ratio, a measure of credit union liquidity, decreases. In this circumstance, the credit union has additional shares available to lend if it desires.


2) Provision For Loan Losses

This line item is the point for transferring funds to the Allowance for Loan Loss account. As credit unions foresee or experience worsening asset quality.  
Listen To This Article
15 Ratios Credit Union Board Members Should Know | Credit Unions

Friday, April 18, 2014

New NCUA Video Answers Questions about Proposed Risk-Based Capital Rule

NCUAnewslayoutALEXANDRIA, Va. (April 17, 2014) – Federally insured credit unions with questions about the National Credit Union Administration’s proposed risk-based capital rule have a new resource just a click or two away: a two-part, 20-minute video released today by the agency.

“NCUA’s risk-based capital proposal is complex, but its overall purpose is simple,” NCUA Board Chairman Debbie Matz said. “This proposal has generated a great deal of discussion, and some misinformation, so we are providing the new video during the comment period to explain why a rule is necessary and how it would affect credit unions. We hope this will provide stakeholders with useful information as they evaluate the proposal.”

The free video, available on NCUA’s YouTube channel, will help credit unions understand how and why NCUA’s proposal differs from the Federal Deposit Insurance Corporation’s rule and Basel III. Introduced by Chairman Matz, the video provides an in-depth review of why the rule is needed and how credit unions would fare under both the current risk-based net worth system and the proposed risk-based capital rule.


Thursday, April 10, 2014

Avoiding Common Social Media Mistakes

Social media offers infinite opportunities to interact with existing and potential members, build your brand and promote your credit unions offerings. However, the vastness of social media also makes it possible that your posts will disappear into cyberspace without causing the impact you imagined.
READ More>Avoiding Common Social Media Mistakes:

Sunday, April 6, 2014

U.S. banks & credit unions starting toward microchip credit cards |

By Sarah Kleiner Varble
The Virginian-Pilot
© April 6, 2014

Credit Cards 3Curtis Baker didn’t think buying apple juice in London would be so complicated.

With a line of shoppers growing impatient behind him, the father of three and senior vice president of lending at Newport News-based Langley Federal Credit Union felt like an hour had passed before the store’s manager responded to the clerk’s page.

He was looking for a fraud-preventing microchip embedded in Baker’s card. But like all standard-issue American cards, it didn’t have one. Most of the rest of the world had already adopted microchip technology in its credit cards by the time Baker traveled to Europe two years ago. Magnetic stripes, like the one on the back of his card, were becoming less recognizable.

Within the next several years --- READ MORE  U.S. banks starting toward microchip credit cards | |

Thursday, April 3, 2014

Los Angeles Firemen’s Credit Union now Firefighters First Credit Union

LAFCU-logoLos Angeles Firemen’s Credit Union is proud to announce it has changed its name to Firefighters First Credit Union, effective March 31, 2014. The credit union was motivated to find a name that would honor its long history of exclusively serving professional firefighters, while reflecting the entirety of its growing Fire Family. The credit union today serves over 265 fire departments all across California.

“The Board reached the decision to rename after significant research and a strategic brand process. As a result, we are confident this new name will help us continue to grow stronger and provide our members with outstanding service, while reaching more of our Fire Family with the financial services they need and deserve,” commented Firefighters First Credit Union’s President/CEO, Michael Mastro.

The credit union will retain the brand tagline “It’s yours” and remain exclusively focused on serving professional firefighters and their family members. “Our 100% commitment to this group – who we call our Fire Family – means the service we offer is tailored to their unique financial needs and goals. We know this group better than anyone, we are proud to serve them, and we are ready to welcome more of our Fire Family into our membership,” said Chief Strategy and Operations Officer, Dixie Abramian. “We were founded by the Los Angeles City firefighters in 1935, and will always have a deep connection to our history. Passing their legacy to new generations of firefighters statewide will help ensure their Credit Union thrives in the future. This new name highlights what has always been true – our commitment to putting members first.”