Saturday, February 28, 2015

SBA partners with credit unions to boost Main Street

By Natalia Olson-Urtecho | Feb 27, 2015

Two out of every three new, private sector jobs are created by small businesses, making them unique cornerstones of America and the backbone of our economy. That’s why it’s so important for small businesses to have access to capital to start and grow their businesses.

To help bridge credit gaps, we at the U.S. Small Business Administration are partnering with credit unions. Credit unions in the mid-Atlantic region are incredibly important because they are community-based and mission focused. They help their members finance cars, homes, education, and of course, small businesses!

With this partnership we’re engaging 250 credit unions to approve at least 10 loans of $50,000 or less, injecting over $125 million into the small business economy. The economic influence of this partnership cannot be overstated. There are nearly 6,800 federally insured credit unions with over 100 million members and around $1 trillion in assets.

Additionally, this partnership meets our mandate of being “Smart, Bold, and Accessible” since small-dollar loans do not count toward the credit unions’ business loan cap. This provides flexibility to distribute small-dollar loans, which will increase access to capital to communities and fire up local economies.

This partnership is one of the many ways SBA is dedicated to creating jobs and tapping into America’s full entrepreneurial potential. We know that for those who dream big, work hard, and play fair to achieve the American Dream with the SBA, the possibilities are limitless!

Along with President Obama, we’re committed to moving America forward by making it easier for entrepreneurs to access fundamental tools and resources to start and grow new businesses. When we strengthen small businesses, we’re driving the overall economy, and increasing opportunities to small business owners and the middle class.

SBA has taken additional steps to boost small-dollar lending, which will also bolster our credit union partnership. We’ve streamlined credit evaluations by revising credit criteria for SBA 7(a) small dollar loans and we’ve zeroed out fees on small-dollar loans ($150,000 or less), making it easier for entrepreneurs to access capital by cutting costs and time.

So connect with your local credit union, and ask them to stay tuned for further details from SBA. For now, visit www.sba.com/local to learn more about how you can gain access to capital to jumpstart your business.

Natalia Olson-Urtecho
U.S. Small Business Administration Mid-Atlantic regional administrator

Friday, February 27, 2015

NCOFCU At The GAC Booth #106


GAC Banner
Visit us at booth 106. This is a great opportunity for us to present the National Coalition of Firefighters Credit Unions Inc. to the credit union community. To discuss our vision and purpose to support firefighters credit unions nationwide in their efforts to provide quality services to their membership.
Grant Sheehan
Executive Director/CEO

12 Strategies to Attract Young Members

I thought I would pass on this great article in the CU Times from the World Council of Credit Unions on 12 Strategies to Attract Young Members.

Grant Sheehan

Young members are the future of credit unions.

Yet, in many nations, the average age of credit union members is in the mid-to-to late 40s, according to the World Council of Credit Unions in Madison, Wis.

In the U.S., U.K. and Australia, the median member age is 47, while the median age of credit union members in Canada is 53. Nations with the youngest cooperative members are Afghanistan (25), Malawi and Kenya (30), Jamaica and Cameroon (35), Guatemala (36) and Ghana (38).

Read More 12 Strategies to Attract Young Members

Sunday, February 22, 2015

HOUSTON FIRE CAPTAIN DIES AFTER THURSDAY FIRE

 

HOUSTON FIRE CAPTAIN DIES AFTER THURSDAY FIRE

The Secret List www.FireFighterCloseCalls.com

We regret to pass on to you notice that Houston (Texas) Captain Dwight Bazile, station 46 D shift, died in the Line of Duty today at 1815 Hours at Memorial Herman Hospital.  Captain Bazile collapsed on the fire scene Thursday, February 19th 2015 and has been fighting for his life at Memorial Herman Heart & Vascular Institute.  He is survived by his Wife Pamela Bazile, Son Dwight Bazile II, and Mother Charlotte Felder. We ask that you keep the family, of Captain Bazile, and the members of the HFD in your thoughts and prayers. RIP.

Take Care. Be Careful. Pass It On.

BillyG

The Secret List 2/21/2015-2156 Hours

www.FireFighterCloseCalls.com

Saturday, February 21, 2015

Worcester Fire Chief Dio to retire - Worcester Telegram & Gazette - telegram.com

Dieo Worcester  2

WORCESTER — When Fire Chief Gerard A. Dio retires at the end of this year, he will end a 35-year career with the department marked most distinctly by his efforts surrounding the Worcester Cold Storage and Warehouse Co. building fire in 1999.

Chief Dio was an incident commander on Dec. 3, 1999, the day the massive structure fire killed six local firefighters. In the days that followed, the soon-to-be fire chief put back-breaking, physically and emotionally exhausting, work into the site, searching for his colleagues. Then, in the evenings after grueling days, he would head over to the Worcester Fire Department Credit Union to handle administrative work.

At the office, Chief Dio would oversee the processing of thousands of contributions pouring in from around the world for families of the lost firefighters, totaling millions of dollars in the end. When honored with a community leadership award in 2000 for his efforts, he notably downplayed his efforts.

Chief Dio, 61, announced Friday he will step down after 15 years as leader of the department. The Worcester resident joined the ranks in 1980 and moved up quickly from there. He was appointed to a district chief spot in 1992 and then to a deputy position four years later before taking over as chief in 2000.

READ MORE
o retire - Worcester Telegram & Gazette - telegram.com

Friday, February 13, 2015

Boston Firefighters Credit Union can open membership to police officers

 

By Deirdre Fernandes Globe Staff  February 12, 2015

The Boston Firefighters Credit Union will be able to open its membership to the city’s police officers and other law enforcement officials, a Suffolk County Superior Court judge ruled Thursday.

Judge Mitchell Kaplan rebuffed an attempt by the City of Boston Credit Union to stop the firefighters credit union from expanding its membership and taking away some of its most lucrative customers: police officers, who are among the highest-paid city employees.

The turf battle between the two financial institutions grew unusually emotional as they accused each other of distorting facts and invoking the events surrounding the Boston Marathon bombing to promote their cause.

David Cotney, the state’s commissioner of banks, had approved the firefighters’ expansion plans in November. But the city’s credit union filed a court injunction to stop it.

In his decision dismissing the case, Judge Kaplan said the commissioner’s decision could not be contested in court. Cotney determined that it will be up to the consumers to decide where to bank, the judge ruled.

Boston Firefighters Credit Union can open membership to police officers - Business - The Boston Globe

Wednesday, February 11, 2015

NCUA Eyes $100M Small Credit Union Cap

CU Times

WASHINGTON — The NCUA board will consider a proposal to raise the definition of a small credit union from assets under $50 million to assets under $100 million at the Feb. 19 board meeting.

”Increasing the threshold from $50 million to $100 million would provide special consideration for regulatory relief for an additional 745 credit unions in future rulemakings,” Larry Fazio, director of the NCUA Office of Examination and Insurance, said Tuesday at a Senate Banking Committee hearing on regulatory relief for small financial institutions.

If the threshold increase is approved, the NCUA estimated that hundreds of additional credit unions would fall under the definition of a small entity.

“Should the board adopt a $100 million threshold, 77% of all credit unions would be covered in future considerations of regulatory relief,” Fazio said in his written testimony. “Taking this action also would recognize the challenges encountered by credit unions below $100 million in assets, which have slower deposit growth rates, slower membership growth rates, and higher operating costs than peer credit unions above the threshold.”

Fazio recommended some field of membership changes that Congress should consider.

“Allowing federal credit unions that have a community or single common-bond charter the opportunity to add underserved areas would open up access for many more unbanked and under banked households to credit union membership,” Fazio said in his written testimony.

“This legislative change could also eventually enable more credit unions to participate in the programs offered through the congressionally established Community Development Financial Institutions Fund, thus increasing the availability of credit and savings options in distressed areas,” he added.

Fazio also said Congress could allow federal credit unions to serve underserved areas without requiring those areas to be local communities.

“NCUA stands ready to work with the Committee on these ideas as well as other options for adjusting field of membership requirements,” he said.

Tuesday, February 10, 2015

Firefighters First Credit Union’s Fire Family Foundation Provided Nearly $104,000 in Assistance to CA Firefighters and Fire Families in 2014

clip_image001

LOS ANGELES, CA -- As the charitable hand of the Los Angeles-based Firefighters First Credit Union, Fire Family Foundation distributed almost $104,000 in assistance to firefighters and fire families in 2014, providing hope and comfort to those in need.

Serving firefighters, their families and fire victims, the Foundation ensures donations go directly to those in need; assistance is distributed statewide and supports numerous individuals and organizations.

The Foundation assisted many in 2014, including:

· Daughter of a firefighter, three -year-old Cecilia has been battling cancer over half her life;

· The family of three-week old Harper who needed to be airlifted for life-saving heart surgery; her daddy too is a firefighter;

· Veteran firefighter Valerie who is battling cancer; the Foundation raised funds and participated in a volunteer work day to help with needed home chores and to create a backyard awning to help in her recuperation from intense chemotherapy;

· The family of Roger, a young Fresno firefighter who passed away in the line of duty; the Foundation helped reunite his close-knit family for his funeral –which took place on what would have been his 32 birthday;

· Chris, a young firefighter, was struck and killed by an errant driver leaving behind a pregnant wife and a young son;

· A local low-income emergency shelter lost its building in a fire; the Foundation made a donation toward the rebuilding effort; and

· Victims of the devastating Weed fire that tore through the community in Northern California.

“Our donations have greatly increased in the second half of the year due to the generosity of the firefighting community and the general public,” says Mike Mastro, President and CEO of Firefighters First who serves as the Foundation Board Chair. “This year, the Foundation touched countless lives and we are proud to be that helping hand to those who are grieving, in shock or feel like hope is lost.”

The Foundation in 2015 is continuing to reach out and respond to communities and the firefighters who serve them in times of need.

Learn more about Fire Family Foundation and individuals/organizations that it’s currently helping at www.firefamilyfoundation.org. Follow Fire Family Foundation on Facebook at www.facebook.com/firefamilyfoundation.

ABOUT FIRE FAMILY FOUNDATION

Fire Family responds when tragedy affects firefighters and fire victims.  The charitable hand of Firefighters First Credit Union, Fire Family Foundation offers immediate assistance to firefighters and their families, fire victims, fire departments, and charities. The Foundation believes that by coming together as a “Fire Family,” assistance can be provided to those impacted by fire. Learn more at www.FireFamilyFoundation.org.

The Foundation is based in Los Angeles, but serves the state of Cal

Friday, February 6, 2015

MyBoardPacket.com Offers Discount to Firefighter Credit Unions

Print
Discount for NCOFCU Members:
25% off MyBoardPacket.com fees (25% off standard fees)
Additional Discount for Member CU's Under $50M Asset Size.      Try  DEMO for pricing and indicate referred by “NCOFCU”
To receive discount, please use the following form and mention you were referred by "NCOFCU Member Discount"http://www.myboardpacket.com
To request a 10 minute demo CLICK HERE and be sure you let them know you heard about them from NCOFCU to receive your discount.
Key Features
  • Securely upload & view Board Packets anytime
  • Supports Multiple File Formats
  • Online Voting
  • Archive all past Board Packets
  • Online Discussion
  • View full board calendar, committee schedules & important dates
  • SOC 2
  • Two Step Authentication
  • High-grade Encryption
  • Free iPad App with Annotation Features
MyBoardPacket.com is a practical, online board packet management system that allows businesses of all sizes to securely manage, organize, contribute and distribute critical board meeting documents.
Users can view
MyBoardPacket.com at anytime for up-to-date information on reports, meetings, templates, discussions, and current events.