Firefighter Credit Union Newsroom

Bank Lawyer's Blog July 24, 2016 Credit Unions and Community Banks Both Face "Shrinkage" In his recent email newsletter (email marvin.umholtz@comcast.net for a subscription), credit union consultant Marvin Umholtz discusses the fact that credit unions face the same problem of "shrinkage" that we have discussed on this blog for some time with respect to the community banking industry . Not surprisingly, both segments of the financial services industry suffer from the same disease: crushing regulation. On July 8th the Editor In Chief for the Credit Union Journal, Lisa Freeman, launched an initiative exploring reader attitudes about the serious question of whether 74% of the credit union industry is "too small to survive" www.cujournal.com/news/opinions/forget-about-too-big-to-fail-for-cus­its-too-small-to-survive-1026267-i.html. The massive regulatory burden, much of it sourced by the federal government, had been identified as the primar...

SOCIAL MEDIA THREAT PUTS KANSAS CITY POLICE, FIREFIGHTERS ON ALERT Source: Fire Engineering  07/23/2016     Watch the complete interview and  Read More at Kshb A social media threat against police and  firefighters  is making the rounds in the metro area. The post calls on the Crips and Bloods gangs to shed some blood. Word of the non-specific threat came after KCK Police Captain Dave Melton's murder Tuesday and at a time when fatal shootings of police officers are a national concern. On Thursday, both the KCMO and KCK  Fire Departments  received notice of this threat along with other area fire departments in the Heart of America Metro Fire Chiefs Council. That organization's headquarters are in Olathe. The threat reads in part, "As you fight, remember that the fireman and the police are on the same side. Don't be fooled!"

Tim Harrington, CPA   CEO, TEAM Resources The Role of the Board Chair Recently I had the chance to spend some time with a great group of board members . One of the things we talked about was the role of the board chair. I thought this well worth putting down on *paper* as it were. The role of the chairperson is multi-faceted, complex, and often changing within the context of the organization’s dynamic. Unfortunately, there’s no perfect set of “rules.” But there are some guidelines. Here are our “tips” on navigating the position successfully: Roles Facilitator  – The board chair must draw together the individual directors into a team, working together on behalf of the membership and the credit union. To do that, s/he must wrangle individual personalities, draw out conversation from some, and rein it in from others. Having a solid understanding of the personalities of each director … and the CEO helps the chair keep things on track, moving forward, and civil. ...

Firefighter credit unions cannot afford to miss out on this rapidly growing part of the financial services industry. By 2017, mobile commerce revenue will make up 50% of U.S. digital revenue. See complete story  HERE Source; CreditUnions.com

Fund Will Assist Fire Victims and Firefighters in Kern County July    8, Los Angeles, CA:   Responding to the emergency of deadly wildfires that are currently blazing through communities in Kern County, Fire Family Foundation, the charitable hand of Firefighters First Credit Union, has created the Erskine Fire: Rebuilding Lives and Community Fund. California’s largest wildfire so far this year, the Erskine fire erupted Thursday afternoon and continues to burn; two people have died, thousands have left their homes, 200 homes were destroyed with many others severely damaged. Four firefighters who were working on the blaze learned the sad news that their own homes were completely destroyed by the fire. The Erskine Fire Fund will dedicate 100% of the funds raised to be distributed to firefighters and fire victims; funds will be used for short-term assistance to pay expenses for essential and immediate needs from food to mortgages/rent "Our firefighters are battli...

NASHVILLE–How should a credit union’s board of directors measure its own performance? And if it has the courage to do so, how can it ensure it’s doing it right? Questions around credit union governance are critical to any credit union’s success (or failure), and it’s one the Filene Research Institute has explored extensively. Some of the findings around research related to board governance and answers were shared with a large group of board members who turned out for a session during NAFCU’s annual conference here. “Governance is about confidence in the system,” said Tansley Stearns, Filene’s chief experience officer. “We must be leaders and remain open to new ideas.” Stearns readily acknowledged all of the challenges before any credit union board and board member, including time demands, economic uncertainty, board diversity, competency, members, training, and liability. Evolution of 'Owner Power' Those factors have contributed to an issue frequently cited by credi...

NCOFCU Wishes everyone a  Happy and Safe 4th of July