Thursday, December 31, 2015

Monday, December 28, 2015

NCUA Economic Update Video- December 2015

Published on Dec 23, 2015
The strengthening economy is good for credit unions, NCUA Chief Economist Ralph Monaco says, but there is still uncertainty about the economic outlook and future path of interest rates. Monaco discussed how economic conditions and the impact of rising interest rates in the National Credit Union Administration’s latest Economic Update YouTube video.

Sunday, December 27, 2015

You Just Never Know These Days!

An armed psycho reportedly fired 3 rounds at paramedics and stole their ambulance after calling 911 with complaints of "dizziness."

The unidentified woman was picked up by Birmingham Fire & Rescue Service ambulance at Birmingham Shuttlesworth International Airport this morning. At some point in the ride, the woman pulled out a gun and fired three shots inside the rescue truck. After she fired three shots there was a tussle but none of the BFRD personnel were injured severely.

The members managed to get out of the ambulance while the woman went for a what was described as a joy ride. The cops tracked her down and arrested her.: 

Take Care. Be Careful. Pass It On.

The Secret List 12-26-2015-1800 hrs

Saturday, December 26, 2015

[NCOFCU News] Meet our 2016 New and Re-affiliated Members

Welcome New Members!
Here's a warm welcome to our new and re-affiliated credit unions as of 12/25/15: 
Organization                                                    Membership Level
Firefighters First Credit Union                                   Gold
Houston Texas Firefighters FCU                             Gold
Newark Firemen FCU                                             Silver
The New Orleans Firemens FCU                             Silver
Akron Firefighters Credit Union                              Standard
Baton Rouge Fire Dept. Fed. Credit Union                Standard
Boston Firefighters Credit Union                              Standard
Cambridge Firefighters Federal Credit Union            Standard
Charlotte Fire Dept. Credit Union                             Standard
Chicago Firefighters Credit Union                            Standard
Chicago Fireman's Ass'n. Credit Union                    Standard
Dayton Firefighters Fed. Credit Union                     Standard
FASNY Federal Credit Union                                   Standard
FireFighters Credit Union, OK                                  Standard
Haverhill Fire Department CU                                  Standard
Jacksonville Firemen's CU                                      Standard
Long Beach Firemens                                             Standard
Lowell Firefighters CU                                              Standard
PFD Firefighters CU                                               Standard
Richmond Virginia Fire Police Credit Union Inc      Standard
San Diego Firefighters Fed. Credit Union                 Standard
San Francisco Fire Credit Union                              Standard
Spokane Firefighters Credit Union                           Standard

Join our growing network of Firefighter Credit Unions!  Click HERE for more information on enrolling your credit union or business as a NCOFCU member!

Thursday, December 17, 2015

Federal Reserve announced an increase in the Federal Funds

The Federal Reserve announced an increase in the Federal Funds interest rate for the first time in nearly a decade Wednesday, following a two-day Federal Open Market Committee member meeting. The target range is now 0.25% to 0.50% and will take effect on Thursday, Dec. 17th

Yellen said the members of the FOMC will monitor the impact their actions may have on markets in the short term. This will give the Fed the necessary tools to use in the event their actions have an unforeseen negative impact on the economy, she added.

In a statement released by the committee following the FOMC meeting, which ended Wednesday, the Fed cited the decline in energy prices and the prices of non-energy imports for keeping inflation below the committee’s 2% longer-run objective. Additionally, the committee report expressed confidence that the medium term will see the 2% objective come to fruition.

Trade organizations and industry leaders expelled their collective breaths when the announcement was made.

“Finally, we can all get back to work now and quit speculating on when rates will eventually rise,” CUNA Chief Economist Bill Hampel said in a statement.

NAFCU Chief Economist Curt Long added, “As far as credit unions are concerned, our forecast is for continued growth in lending in 2016. Households are in a strong position with low unemployment, falling gas prices, low debt service costs and early signs of wage growth.”

In response to the question of when the next rate raise could be expected, Yellen said she would not provide a formula for anticipating an additional rate raise, but stated the FOMC will continue to look for market improvements in employment, labor participation rates and wage growth.

The two-day meeting concluded the FOMC’s meetings for the year. The next one is scheduled for Jan. 26 and 27, 2016.

Saturday, December 12, 2015

Baton Rouge Firefighters CU Rolls Out Auto Link & myEZ Car Care

Baton Rouge Firefighters CU is now offering Auto Link  (a NCOFCU Business Partner) through their credit unions website with the brand new Virtual Test Drive (VTD) feature..

Auto Link the only one that presents a Virtual Test Drive to members when they are looking for a vehicle (this is a new feature) and they are the only ones that provide a 3 year VIP Plan membership to myEZ Car Care with auto product and service discounts with a Electronic Glove Box®, desktop and mobile app.

Their members can now;
  • Learn about the car buying experience
  • Search for a New or Used Vehicle
    • Check for Manufacturer Rebates
    • Check used car auto values
    • Get a Vehicle History Report
    • Check Safety Ratings
  • Do a Virtual Test Drive (VTD)
  • Find/Locate a Car
    • Receive a TrueVale price 
  • Finance directly through the credit union
And never loose your credit unions branding!

For more information about Auto Link Contact;
Ed Bourgeois
myEZ Car Care, LLC
LA Credit Union Center
824 Elmwood Park Blvd, Suite 225
Harahan, LA  70123


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Wednesday, December 9, 2015

Boston Firefighters' credit union to move into cop-heavy neighborhood

Boston Firefighters Credit Union has made plans to open in West Roxbury, down the road from a rival credit union that it fought in court earlier this year for the right to serve the city’s police officers.
Boston Firefighters filed notice with the Massachusetts Division of Banks late last month to open an office at 2029 Centre St. in West Roxbury, a neighborhood known for its high percentage of cop and firefighter residents. The location is a former Eastern Bank branch that closed earlier this fall.

President and CEO John “Bernie” Winne said the credit union has been actively looking for a space in or near West Roxbury for the past year and a half. The former Eastern branch is appealing because it is already built out as a financial institution and, at approximately 1,400 square feet, is a desirable size, he said. Should the Division of Banks allow the move, “we’ll be able to get in pretty quickly, without having to spend a whole lot of money,” Winne said. The location would be Boston Firefighters’ second. It currently has an office in Dorchester.

In February, a Superior Court judge confirmed that Boston Firefighters can accept Boston police officers and other law enforcement personnel as members, after the City of Boston Credit Union sought a court order prohibiting its rival from opening its ranks. State regulators had previously approved of the expanded membership.
Since the beginning of the year, Boston Firefighters’ membership had surged nearly 10 percent as of September, from 7,030 to 7,693 members. Its total assets are up nearly as much, by about 8 percent, to $226 million. The City of Boston Credit Union’s membership ranks have also increased, though by a smaller percentage. The City of Boston Credit Union has an office less than half a mile down the road from the proposed Boston Firefighters location, on Spring Street.

Winne said that while law enforcement officers have formed a portion of the new membership this year, the new members also include new Boston firefighters, firefighters elsewhere in the state, and families of firefighters. He downplayed any fight for customers between the West Roxbury branches, saying Boston Firefighters has long known it would eventually need a second location. “We’re not trying to take business away,” he said. “What we’re doing is trying to provide an alternative to police officers who value the way we do business."

Tuesday, December 8, 2015

Diana Dykstra named President of Western CUNA Management School

Diana Dykstra named President of Western CUNA Management School; Dr. Michael Steinberger named Dean of Academics

Ontario, CA (December 7, 2015) — Western CUNA Management School (WCMS) Board of Trustees have announced that—after 44 years of exemplary service—Dr. James D. Likens will retire at the end of 2015, and have selected California and Nevada Credit Union Leagues President and CEO Diana Dykstra to serve as president of the school. In addition, the Board of Trustees are pleased that Dr. Michael Steinberger has agreed to expand his role and will now serve as the dean of academics.

In this new role, Dykstra will help guide WCMS as the school moves into a new era of credit union leadership development. She will serve as the executive lead and as a direct connection between the school and the credit union movement throughout the Western United States. Partnering with Dykstra in this effort, Dr. Steinberger will serve as the academic lead and be the primary driver in the development of future focused leadership development programs for the students of WCMS.

Dykstra is a 1992 Honors graduate of WCMS and has served as the president and CEO of the California and Nevada Credit Union Leagues since 2010. She has been a project reader and a popular instructor at the school for 18 years. Diana is a sought-after speaker and an influential voice in the credit union movement.

“The Board of Trustees is honored that Diana has agreed to serve as the president of WCMS as we make this important transition from 44 years of Dr. Likens’ leadership. Her work on campus and her leadership role in the credit union movement will be critically important as the school works to meet the ever changing leadership development needs of today’s credit unions.” said Gene Pelham, WCMS Board Chairman and president and CEO of Rogue Credit Union in Oregon.

Dr. Steinberger—a highly regarded associate economics professor and recent department chair at Pomona College in Claremont, CA—joined WCMS in 2006 as associate dean. He graduated from the University of California at Berkeley with majors in economics, political science, and statistics; earned a Ph.D. in economics from the Massachusetts Institute of Technology; and in 2004, joined the faculty of Pomona College. His research has been cited in cases before the US Supreme Court, and he has made research presentations at several government agencies, including at the Consumer Financial Protection Bureau. Dr. Steinberger also serves on the Supervisory Committee of First City Credit Union in Los Angeles and on the board of TRUST for Credit Unions in Washington, D.C.
Dr. Likens—recently appointed by the board of trustees as dean emeritus— commented: “This is great news. Michael will bring to WCMS academic leadership of the highest order. How lucky we are to have him.”

“Michael has been instrumental in building a strong academic program for our students,” said Dykstra. “Under Dr. Likens’ mentorship he has been fully immersed in the schools ethos and I am fortunate to have the opportunity to work with him to build upon the legacy of Dr. Likens.”

“At 13 years of age I followed in the footsteps of my parents and opened my first credit union account. I am a beneficiary of and sincere believer in the credit union ideals of people helping people,” said Dr. Steinberger. “I am honored that the Board of Trustees has chosen me to partner with Diana in carrying on Dr. Likens’ work at WCMS preparing the next generation of credit union leaders.”

“We are fortunate to have a credit union movement icon like Diana leading our administrative efforts and an award-winning educator like Michael leading our academic efforts,” said Pelham. “Diana and Michael have been instrumental in WCMS’ past success and we are so excited about what this partnership means for the future success of the students and faculty of WCMS.”

Dr. Likens’ official retirement date is December 31, and Dykstra and Dr. Steinberger are already at work building the strategic plans and curriculum for the 2016 session of Western CUNA Management School.

About Western CUNA Management School

WCMS serves credit unions in the 13 western states of Alaska, Arizona, California, Colorado, Hawaii, Idaho, Nevada, New Mexico, Montana, Oregon, Utah, Washington, and Wyoming. It is sponsored by the Alaska Credit Union League, California Credit Union League, Credit Union Association of New Mexico, Hawaii Credit Union League, Idaho Credit Union League, Montana Credit Union Network, Mountain West Credit Union Association, Nevada Credit Union League, Northwest Credit Union Association, and Utah Credit Union Association, in cooperation with Pomona College in Claremont, CA. Graduates who have developed their skills and knowledge at the school occupy positions of leadership and responsibility at some of the nation’s leading credit unions.


Nancy Wood
Director of School Administration
Western CUNA Management School

Thursday, December 3, 2015

Houston Texas Fire Fighters FCU Board Announces New Chief Executive Officer

The Houston Texas Fire Fighters Federal Credit Union Board of Directors is pleased to announce the appointment of Steve Gilman as the credit union's new Chief Executive Officer, replacing Clint Hartmann, who is retiring in March 2016, after serving 11 years as the credit union's president and CEO.

Gilman is a seasoned credit union executive with 39 years of financial institution experience. He has served as president/CEO of Members Choice Credit Union in Houston, Texas, since 2007 where he grew assets to $500 million from $200 million over an 8-year period. He will officially begin at HTFFFCU on January 4.

“HTFFFCU is excited to have Mr. Gilman join our management team. He is a proven leader who will bring the highest level of financial experience and management skills to our organization,” Hartmann stated.

An active member of the credit union movement, Gilman serves on various local boards and committees. At the state level he serves as a member for the Texas Credit Union Commission, CCUL’s governmental affairs committee and is also currently chairman of the Houston Chapter of Credit Unions. He is a past president of the Credit Union Managers Association of Southeast Texas (CUMASET) as well as the Cinco Ranch Rotary Club in Katy.

Gilman received a Bachelor of Science degree in Business Administration from California State University.

Houston Texas Fire Fighters Federal Credit Union
Houston Texas Fire Fighters Federal Credit Union currently has more than 16,000 members in the Houston, Texas area. It offers a full line of financial products and services, including mortgages and business products. Membership is open to the City of Houston firefighters and eligible family members.

Wednesday, December 2, 2015

Dayton Firefighters Federal Credit Union is the latest credit union to join a national shared branching network.

Dayton Firefighters Federal Credit Union is the latest locally based credit union to join a national shared branching network.

The service, which will be offered in 2016, will let members of another credit union conduct transactions at Dayton Firefighter's and lets their members conduct transactions elsewhere like they are at their home credit union.

The Dayton-based credit union only has one brick and mortar branch in the Oregon District, and marketing manager Shannon O'Neill said joining the shared branching network is an efficient way to increase access without building more expensive branches.

"We can't build a branch on every corner but what we can do is allow our members to have access when and where they need it," she said.

With 5,340 locations, the shared branching network is the third largest branch network, behind Wells Fargo and Chase. There are 44 shared branching locations in greater Dayton, with participating credit unions like Wright-Patt Credit Union and Day Air Credit Union.

The credit union will pay when its members do transactions at other branches and will get income when members come to its Patterson Boulevard branch. O'Neill anticipates the credit union mostly paying for its customers to access other branches instead of taking in revenue from outside customers coming to their branch.

However, she said the model is still the most cost-effective way to keep members by giving them access anywhere.

According to Dayton Business Journal research, Dayton Firefighters Federal Credit Union is the 13th largest credit union in the Dayton area with $51.61 million in assets and 4,103 members.