Firefighter Credit Union Newsroom

http://www.fedcomp.com/ Let's welcome FedComp as a Gold sponsor this year in Denver, CO.  September 28 -October 1st, 2016. Assisting “Small Entity” Credit Unions Keep their Doors Open FedComp accepts the challenge once again to keep “small entity” Credit Unions from being swallowed up by the big boys and ceasing to exist. Fairfax, VA. (22 January 2016) – Three years ago on January 17, 2013 Credit Union Times carried a story entitled “FedComp Keeps Light on for Small Credit Union”. And now, again FedComp is showing “small entity” credit unions how to “keep their doors open” by providing a cost efficient solution to entry to the mobile financial age with its visionary Mobility Suite of Solutions. This set of suites, from entry to advance, allows credit unions to choose the type of member services they wish to offer; from the “Mobile Data Solution” entry suite to the full range of the services found in the “Mobile Business Solution” suite. The fir...

“Update from The Hill” Dan Berger - President & CEO National Association of Federal Credit Unions (NAFCU) For 12 years, Dan Berger has been listed as one of the most influential lobbyists in Washington D.C. by The Hill newspaper. He has been a commentator on Fox News, CNBC and CNN, and is quoted regularly in the Wall Street Journal, The Washington Post and numerous financial services publications.  Dan’s presentation will give credit union leaders his view of the political environment; explore current legislative and regulatory issues; discuss the national economy and the overall state of the credit union industry.    www.Nafcu.org    http://www.bergerleadershipblog.com/  

ARKANSAS FIREFIGHTER SHOT & KILLED IN THE LINE OF DUTY WHILE TREATING PATIENT The Secret List www.FireFighterCloseCalls.com   Horrible news out of Arkansas this morning where an East Pulaski County Firefighter has been killed in the Line of Duty-after being shot while he was helping a patient. It happened around 0500 hours this morning on Dortch Loop in North Little Rock. The suspected shooter is in custody. More to follow. Our condolences to ll those affected. RIP. Take Care. Be careful. Pass It On. BillyG The Secret List 1/22/2016-0830 Hours www.FireFighterCloseCalls.com All, As you know, an Arkansas Firefighter (Lt Jason Adams, 29) was shot and killed in the Line of Duty this morning. Even more tragic is that  he was mistaken as being an intruder  while inside to assist with a medical emergency this morning.  Additionally, reports are that one of the first responding ALS providers was Lt Adam's own wife. The shooting happened about 050...

Denver (Colorado) Fire Chief Eric Tade was stabbed this afternoon when a some nut job jumped into the SUV he was driving. He was on duty, driving his DFD black SUV in the area of fire headquarters when an unnamed woman jumped into the SUV and stabbed Tade shortly after 1330 hours. He took himself to the nearby firehouse where he was treated before being taken to the hospital. He was listed in fair condition at Denver Health Center with wounds to his hand and leg. Cops say witnesses helped track down the suspect who has been arrested. One civilian was was walking through the intersection when he saw the chiefs black Ford Explorer rolling down Colfax with no one inside...and the chief walking to the firehouse. We wish him a quick recovery. Take Care. Be Careful Pass It On. BillyG The Secret List 1/19/2016-1630 Hours www.FireFighterCloseCalls.com

Lakeland, FL — Credit unions are increasingly coming under fire for excessive overdraft fees, in the same way that major banks have been taken to task for misdeeds such as reorganizing transactions to maximize fees. In October plaintiff Martha Towner filed a Credit Union Excessive Overdraft Fees lawsuit alleging 1st MidAmerica Credit Union charged overdraft fees improperly. But that’s just the tip of the iceberg, according to various media reports. Since September, at least a dozen credit unions have been hit with class-action Excessive Overdraft Fees lawsuits in nine states, with various pundits weighing in with the observation that this could be the tip of the iceberg. Towner, in her class-action lawsuit (Towner et al v. MidAmerica Credit Union, and Does 1-100, case No. 3:15-cv-01162, filed October 20, 2015 in US District Court, Southern District of Illinois), claims that her credit union charged her overdraft fees on various transactions, even though there were sufficient f...

WASHINGTON, DC (January 13, 2016) — In response to President Obama’s State of the Union address, National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger issued the following statement. “NAFCU and our members appreciate the president’s outlook that we are in a time of extraordinary change. NAFCU welcomes the prospect of working with the administration and Congress to move our country’s economy forward, particularly through several key issues that mirror our priorities for 2016 – including regulatory relief for credit unions and increased small business lending. “We welcome President Obama’s recognition that a thriving private sector is the lifeblood of our economy. Our nation’s credit unions are uniquely qualified to help make this a reality by facilitating access to capital and financial services in communities throughout Main Street America. Unfortunately, they are restricted by an arbitrary member business lending cap on credit unions. Lifting this a...

Supervisory Priorities for 2016 NATIONAL CREDIT UNION ADMINISTRATION 1775 Duke Street, Alexandria, VA 22314 DATE: January 2016 LETTER No.: 16-CU-01 TO: Federally Insured Credit Unions SUBJ: Supervisory Priorities for 2016 Page Content Dear Board of Directors and Chief Executive Officer:      This letter is intended to assist you in preparing for your next NCUA examination.  NCUA field staff will continue to use the streamlined small credit union exam program procedures for credit unions with assets up to $50 million and CAMEL ratings of 1, 2, or 3.  For all other credit unions, field staff will conduct risk-focused examinations, which concentrate on the areas of highest risk, new products and services, and compliance with federal regulations.      Below are NCUA’s top areas of supervisory focus that are broadly applicable for credit unions in 2016. C...

Firefighters First Credit Union gives back over $1.6 Million to firefighters and their families. In the fire service, firefighters have an unconditional trust with each other. Similarly, firefighters trust this organization and have done so since its inception in 1935. Firefighters First was established during a time of financial need when firefighters pooled their funds together to help make ends meet. This commitment remains today and is demonstrated through strong financial management and keeping the best interests of our Fire Family in mind. That’s why we return our profits directly back to our members in the form of Extraordinary Dividend Bonuses and Interest Refunds. With this year’s $1.6 Million payout, it brings the total amount we have paid back to our members to over $42 Million in the past 30 years. “Extraordinary Dividend Bonuses and Interest Refunds are unique benefits of Credit Unions, and many have stopped them altogether. But at the discretion of our Boar...

Looking into the credit profiles of the many veterans who were recently appointed to the Boston Fire Department, our credit union team we saw a common thread among many: bad credit and resulting high interest rates on loans. Several of these young men and women, who volunteered to fight for our freedom, had fallen into a pattern that negatively affected their credit scores. Low pay rates and creditors that prey on young servicemen and women while they are stateside are just two of the reasons many get into this situation. The problems are often compounded during deployments when bills and credit obligations are not the main priority (for obvious reasons). As a result, many of our brave troops return home with challenged credit, which leads to high interest rates on credit cards, personal loans, and auto loans and makes home ownership a virtual impossibility. Boston Firefighters Credit Union answered this challenge by offering veterans A+ credit rates on auto loans (1.99 percent) an...

Dan Berger CEO NAFCU will b speaking at our 2016 Conference in Denver and I found this interview with him very interesting and thought I would pass it on. In December, the Government Accountability Office (GAO) issued a report on the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act regulations on community banks and credit unions. While cautioning that it was too early to gauge the full impact of new rules, the GAO said surveys suggest the regulations have caused only “moderate to minimal initial reductions” in credit availability, adding that the data doesn't confirm a negative impact on mortgage lending. B. Dan Berger, president and chief executive officer of the National Association of Federal Credit Unions (NAFCU), said  the GAO report has greatly underestimated the burden of new rules on smaller institutions. He spoke with Scotsman Guide News about NAFCU's legislative agenda, and the prospects for regulatory relief and housing finance reform in 201...