Firefighter Credit Union Newsroom

  By Bankston, Karen Proquest LLC When members step up to serve as directors, their credit union agrees to protect them from personal liability for carrying out their board responsibilities a promise that takes the form of directors and officers insurance as part of the organization's management liability coverage. But with the incidence and costs of litigation on the rise in the financial services industry, according to a recent survey by the law firm Norton Rose Fulbright (www.nortonrosefulbright. com), how can directors ensure that adequate protections are in place? Specialists recommend regular reviews of the risk exposures facing your credit union with a special focus on regulatory and business expansions to ensure that your liability coverage is up to the task. Credit unions are immune to the most common type of lawsuit filed against directors-the sort filed by stockholders unhappy with investment returns, notes insurance consultant Scott Simmonds ( www.ScottSimmonds.co...

The National Coalition of Firefighters Credit Unions Inc. (NCOFCU) is looking for firefighters who serve on credit union boards or committees. For over 13 years firefighters from across the country have been meeting to collaborate on how they can better provide products and services to their credit union membership.  Whether you serve on a firefighter, police, municipal or other credit union board or committee, this collaboration among your peer group of fellow firefighters is irreplaceable. Please take a minute and visit our website at www.ncofcu.org to see what awaits you. Grant Sheehan Executive Director National Coalition of Firefighters Credit Unions Inc.

The New York City Fire Department is advertising for positions. Benefits and Salary THE BEST JOB IN THE WORLD HAS THE BEST BENEFITS IN THE WORLD As a New York City Firefighter, you will receive an incredible benefits package and a competitive salary that more than doubles in your first five years on the job. But act now, the chance to join only comes every four years. Benefits include: Lifelong medical coverage for you and your family; Growth opportunities; Flexible work schedules; Up to four weeks paid vacation per year; Generous pension Firefighter Salary : BASE FRINGE* TOTAL STARTING SALARY $39,370 $3,704 $43,074 AFTER 1 YEAR $41,311 $8,159 $49,470 AFTER 2 YEARS $44,995 $8,886 $53,881 AFTER 3 YEARS $49,494 $9,775 $59,629 AFTER 4 YEARS $54,556 $10,775 $65,331 AFTER 5 YEARS $76,488 $22,616 $99,104         Promotion Opportunities:         ...

Fire Police Credit Union, FOP Ensure Summer Safety (VIDEO) By Chris Smurr - 21Alive By Rachel Martin - 21Alive June 14, 2014Updated Jun 14, 2014 at 6:39 PM EDT FORT WAYNE, Ind. (21Alive) – The Fort Wayne Fire and Police Federal Credit Union and the Fraternal Order of Police were out fitting children for bike helmets. The Credit Union donates annually to help the Fraternal Order of Police (FOP) purchase the helmets. Fire Police Credit Union, FOP Ensure Summer Safety (VIDEO) | Indiana's NewsCenter: News, Sports, Weather, Fort Wayne WPTA-TV, WISE-TV, and CW | Local

Just a reminder the Early Bird cut-off date to save $100 per registration is Tuesday, July 1, 2014 Don't miss out! Make your reservation for the 2014 San Diego annual educational conference and exposition for the National Coalition of Firefighters Credit Union’s Inc. for only $875, a savings of $100 per registration. You can make your reservation on-Line by visiting the Conference Web Site at www.ncofcu.org   or to download the  Mail-In Registration Form  or confirm your spot by calling or sending an  e-mail to: grant@ncofcu.org   Grant Sheehan Executive Director 3741 De Garmo Lane Miami, Fl 33133 Tel: 305-951-3306 Because of the overwhelming response, hotel rooms at the Westin Gaslamp Quarters are in short supply so please pre-register so you don't have to stay off site..If the conference hotel is full we have made arrangements in a neighboring hotel for you, just contact ESP at 508-429-2121 and let us know how many rooms you...

  Balance Giving, Investing By Michelle A. Samaad June 08, 2014 Charitable giving by credit unions is nothing new, but the investment aspect of such accounts had caused regulators to wonder if the funds were being used for their intended purposes. The NCUA board approved a new rule in December 2013 that offers protections against those concerns by allowing federal credit unions to fund hybrid charitable and investment vehicles designated as charitable donation accounts under certain conditions. The final rule clarified that a federal credit union may hold investments within a CDA that are not allowed otherwise, so long as the account is primarily charitable in nature and structured to preserve the safety and soundness of the federal credit union, according to the NCUA. Among the requirements is a minimum of 51% of the total return from the CDA must be distributed to one or more 501(c)(3) charities. Continue Reading > Charitable Donation Accounts Balance Giving, Invest...

  https://www.youtube.com/watch?v=3-wNmLXXD8g&sns=fb&app=desktop

There is now less than 4 months to our “Annual Convention” that will be in San Diego this year. We invite everyone that has not signed up to get your registration and hotel reservations in as soon as possible. We are looking forward to another successful convention and with the number of people signed up to date it appears we are on course to match and possible exceed last year’s attendees. We have a talented line up of speakers and the breakout sessions will surely be lively with discussions. There is still time to submit names to our “Volunteer of the Year ” award and our “Scholarship Program” which assists with financial assistance to attend the convention. Our credit unions have many talented members that should be recognized for their efforts to the credit union movement. You can submit an application on line which will be held in confidence. We have reviewed last year’s parting comments and we are sure that we have addressed issues that were of concern. San Diego is sur...

Focus on duties related to the organization, board processes and leadership. By Leisa Goodman CUES How do you measure a chairperson’s effectiveness? Ask 10 different board members, and you may just get 10 different answers. Ask Les Wallace, Ph.D., president of Signature Resources , Aurora, Colo., and facilitator of CUES' first-ever Board Chair Development Seminar this spring, and he’ll tell you a chair’s duties can be broken down into three key areas. 1. Organizational obligations Keep a watchful eye on fiduciary oversight. Ensure the board is taking ownership of strategy. Make sure the CEO’s direction is on course. 2. Process obligations Manage the agenda. Wallace suggests this agenda for efficient, productive meetings: Convene Consent agenda—routine, non-controversial items collected into a group for a streamlined motion and vote Financials—a “skinny” report that provides what’s needed, but not too much detail that gets into the weeds Strategy Manage meet...

Elizabeth Ellis serves as the Deputy Assistant Director for the Office of Financial In-stitutions and Business Liaison. As part of this role, she also serves as Director Cordray’s deputy for the FDIC Board. She has most recently been the Senior Advisor to the Chief of Staff at the CFPB. Prior to joining the CFPB, she was a Financial Ana-lyst at the Congressional Oversight Panel, where she evaluated the Troubled Asset Relief Program (TARP) and reviewed the state of financial markets and the regulatory system. Previously, Ms. Ellis was a Senior Associate at PricewaterhouseCoopers LLP, where she worked in the banking and capital markets audit practice. Ms. Ellis re-ceived her B.S. in Finance and M.S. in Accountancy from Wake Forest University. She is a CPA, licensed in North Carolina. Check out all of our conference speakers at 2014 San Diego Conference.

  Half of Credit Unions May Go Under The credit union industry as a whole is booming. Last year it added a record 2.4 million members nationwide. Today, nearly 40 percent of American adults belong to a credit union. But almost all those gains can be attributed to a smattering of the largest credit unions. While the 100 biggest credit unions represent only 1.4 percent of the industry, they contribute half of the asset growth and about 90 percent of its member growth, according to banking industry trade journal  The Financial Brand. Meanwhile, the number of small credit unions, those with less than $100 million in assets, is shriveling over time. Every month, about 20 small credit unions are lost to mergers and closures . According to The Financial Brand forecasts, half of all credit unions will disappear by 2032 if trends  continue at current pace. New Rules, More Demands Credit unions and banks alike have complained about outsized costs associated with new regula...