Firefighter Credit Union Newsroom

Long-term U.S.  mortgage rates  fell this week for the second week in a row, despite the Federal Reserve's efforts to lift borrowing costs. Mortgage buyer  Freddie Mac  says the rate on 30-year, fixed-rate  mortgages  slid to 3.92 percent from 3.96 percent the previous week. While historically low, that is still above last year's average of 3.65 percent. The rate on 15-year, fixed-rate home loans, popular with homeowners who are refinancing their mortgages, eased to 3.2 percent from 3.23 percent last week. Mortgage rates haven't increased much even though the Federal Reserve has boosted its benchmark rate four times in the past 18 months. That's because mortgage rates follow the yield on the 10-year Treasury note, which is influenced by many factors. Greater demand by overseas investors can lower the yield. To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week. The average doesn't...

WASHINGTON—At the close of its two-day meeting Wednesday, the Federal Open Market Committee announced that no change will be made this month in interest rates. In view of realized and expected labor market conditions and inflation, the Committee decided to maintain the target range for the federal funds rate at 1 to 1-1/4 percent. The stance of monetary policy remains accommodative, thereby supporting some further strengthening in labor market conditions and a sustained return to 2 percent inflation. In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its objectives of maximum employment and 2 percent inflation. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments. The Co...

July 21, 2017 The NCUA is embarking on a restructuring that, among other things, will result in a reduction of the agency's regions from five to three, with the Albany (Region I) and Atlanta (Region III) offices slated for closure. NCUA says the changes to come  are aimed at creating more efficiency, responsiveness and cost-effectiveness. The NCUA notes the creation late last year of internal review teams to rethink the agency’s operations, discuss how it can re-tool to do its job better, and make recommendations to the board. Among the recommendations the Board approved are: Consolidate the agency’s five regional offices into three by closing the Albany, N.Y., and Atlanta, Ga., offices and eliminate four of the agency’s five leased facilities; Create an Office of Credit Union Resources and Expansion by redefining and realigning chartering and field-of-membership, credit union development, grants and loans, and minority depository institutions programs; Restruct...

We have a tremendous line up of speakers for you! M. McWatters Chairman NCUA, Dan Berger CEO NAFCU, Jim Blane State Employees CU, Kevin Smith TEAM Resources, SunDeep Kapur, Steven Rick CUNA Mutual Group, FBI Special Agent on Cyber Security, Motivational Speaker Terry Wright, Directors and CEO breakouts as well as several Open Round-table discussions. Our scheduled events. Wednesday, GOLF at the Ballantyne Golf Club or a tour of the Charlotte Speedway and Hendricks Motorsports, Thursday a spousal tour of the Billy Graham Museum and shopping,  Friday Queens City citywide tour and last but not least our Friday night dinner will take place in the NASCAR Hall of Fame and Museum.  Check out our complete conference schedule HERE

Millennials may not understand the difference between a bank and a credit union, but when it comes to third-party payment apps, they know their stuff. Individuals ages 18-to-34 are a technology-first, convenience-driven generation. Being able to access anything at any time is important for millennials. That’s why they prefer mobile for everything? including banking. According to a FICO report, 80% of millennials do most of their banking activities online and through mobile apps. Through bank and credit union apps anyone can check account balances, deposit checks, pay bills, and transfer money between accounts, all from their phone. Millennials still aren’t satisfied. Third-party payment apps like  Venmo  and  Square Cash allow users to make real-time mobile payments without fees, making them instantly popular with young adults. Pay Pal-owned Venmo is particularly popular, as displayed by its dramatic 126% payment volume increase over t...

Complete the Hunt to be eligible for  1 of 4 $50 Gift Cards Visit  NCOFCU  and try to complete the following tasks. Log in with your e-mail and password. If you have forgotten your password, and we all do now and then,   CLICK HERE.                  Find which credit unions are members of NCOFCU and their sponsorship's Find NCOFCU's Vision and Mission Locate the Members Directory Find NCOFCU's 2016 Conference photos and presentations Locate in Members Benefits, the Associate Directors Position policy Find NCOFCU's Disaster and Scholarship Funds Locate NCOFCU's financial reports Find how many Associate Directors  NCOFCU has? Let the search begin! When you are finished with the scavenger hunt, click the "I'm Done" below to register your completion with the correct answer. You will be entered to win one (1) of four (4) $50 gift cards. * NCOFCU Volunteers and staff not eligible....

See you in Charlotte NCOFCU's  Annual Conference!October 4-7, 2017

WASHINGTON–The Fed may be pushing rates up, but the 30-year mortgage rate average has declined to new lows for 2017. According to Freddie Mac data: 30-year fixed-rate mortgage (FRM) averaged 3.88% with an average 0.5 point for the week ending June 29, 2017, down from one week earlier when it averaged 3.90%. A year ago at this time, the 30-year FRM averaged 3.48% 15-year FRM this week averaged 3.17% with an average 0.5 point, the same as one week earlier. A year ago at this time, the 15-year FRM averaged 2.78% Five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.17% as of June 29, with an average 0.5 point, up from one week earlier when it averaged 3.14%. A year ago at the same time, the five-year ARM averaged 2.70% "The 30-year mortgage rate fell two basis points to 3.88% this week," says Sean Becketti, chief economist, Freddie Mac, in a statement. "However, the majority of our survey was conducted prior to Tuesday's sell-off in ...