Skip to main content

NCOFCU Awards Presentations Seattle WA

Seattle WA 9/20/18
These prestigious awards are presented annually recognizing a credit union professional and volunteer whose career best embodies the National Council of Firefighter Credit Unions Inc (NCOFCU) mission.  The recipients will have demonstrated support for the credit union philosophy of “people helping people” and organized and/or provided significant assistance to their credit unions needs which constructively impacted the growth, image and/or service capacity of their credit union. 

Volunteer of the Year

Michael McCormick V Chairman
San Diego Firefighters FCU
Mike has been a volunteer at the credit union for the past 20 years and is currently the Vice-Chairman of the credit union's Board of Directors. Mike is also on the Board of the NCOFCU.
Mike has been a great advocate for the credit union over these past 20 years and has attended numerous educational conference on behalf of the credit union. He has also been a valued member of the ALCO committee for most of those 20 years. Mike's years of experience in both the private sector and the public sector along with an Executive MBA allows him to play a key role in the decision-making process regarding the strategic financial direction of the credit union.
The credit union is truly fortunate to have someone of Mike's dedication and commitment to the success of the credit union.



Lifetime Achievement Award

Richard T. Andrews CEO
F & A Credit Union
Rich Andrews holds over 40 years of service within the credit union industry. He began his career with credit unions as a Real Estate and Special Service Manager, working his way up to Executive Vice President of Operations and eventually to the CEO position he holds today.  A vast majority of Rich’s credit union career has been serving as President/CEO of F&A Federal Credit Union.

F&A Federal Credit Union closed its books in 1985 with $115 million in assets and a capital ratio of 5.27%. In March of 1986, Rich was hired to take the helm of the Credit Union and lead them into the future. Today, F&A stands as one of the most successful credit unions in the country with over $1.6 billion in assets, nearly $260 million in capital, and an outstanding capital ratio of 15.79%.

Soon, Rich Andrews will leave his long, distinguished career at F&A behind knowing that he, with the help and support of many others, has crafted one of the most successful credit unions in the country. 

Comments

Popular posts from this blog

Without President’s Signature, ROAD to Housing Act Becomes Law; Includes CU Board Modernization Act

WASHINGTON — The bipartisan 21st Century ROAD to Housing Act became law Friday without President Donald Trump’s signature after the president allowed the measure to take effect while Congress remained in session, choosing not to sign it in protest over the Senate’s failure to advance separate voter identification legislation.  The legislation includes the Credit Union Board Modernization Act, which reduces the frequency with which credit unions must meet and which had strong support from the credit union trade groups.  Trump announced on social media that he would not sign the housing package because the Senate had not passed the SAVE America Act, a measure he has championed requiring proof of citizenship for voter registration. Under the Constitution, a bill becomes law if the president neither signs nor vetoes it within 10 days, excluding Sundays, while Congress is in session.  Scott Simpson ‘Steadfast in Commitment’ “America’s Credit Unions, our league partners, and cr...

Inflation Cools in June Report, But One CU Economist Says There’s One Reason–And it Could Change

WASHINGTON — U.S. consumer inflation cooled more than expected in June, offering relief after several months of elevated price pressures, though economists cautioned the improvement could prove temporary as renewed geopolitical tensions threaten to push energy prices higher. The Consumer Price Index fell 0.4% in June on a seasonally adjusted basis, the largest monthly decline since April 2020, after rising 0.5% in May, according to data released Tuesday by the Bureau of Labor Statistics . Compared with a year earlier, consumer prices rose 3.5%, down from 4.2% in May.  Foot off the Gas Dawit Kebede “Falling gas prices led June’s decline and pulled headline inflation lower year-over-year. Renewed hostilities could complicate the energy picture ahead, and a reversal in gasoline costs would be the most likely channel for that pressure to show up,” said America’s Credit Unions Senior Economist Dawit Kebede. “But softening core prices point to broader-based moderation, suggesting the ea...

Invest in Education - Invest in Tomorrow

 

More Consumers Turning to Digital Wallets to Manage Finances

BOSTON — Consumers facing financial pressure are increasingly turning to digital wallets not only for convenience, but also as a way to better manage their household finances, according to a new report from PYMNTS Intelligence . The report, titled “ The New Checkout: Crimped Consumers Lean Into Online Retail and Digital Wallets, ” is based on a survey of 2,108 U.S. adults and found digital wallet adoption is growing fastest among younger consumers and those experiencing financial stress. According to PYMNTS Intelligence, digital wallets are evolving beyond simple payment tools by offering features such as buy now, pay later options, real-time balance information and spending management tools that help consumers monitor their finances. Source: PYMNTS Intelligence Among consumers experiencing high financial stress, 28% said they used a digital wallet for their most recent retail purchase, compared with 11% of consumers reporting low financial stress. For grocery purchases, 21% of financi...

What You Might Not Know About July 4th.

Coffee Consumption Guidance

Most adults can safely drink  up to five 8-ounce cups of black coffee per day, and regular consumption may improve cardiovascular health, the American Heart Association said yesterday. An analysis of recent studies suggests that consuming about 400 milligrams of caffeine daily may lower the risk of Type 2 diabetes, stroke, heart disease, and heart failure. However, because most research is observational, scientists are still unsure why caffeine may benefit heart health. Some studies suggest antioxidants  in coffee help reduce inflammation, indicating not all caffeine sources offer the same effects. Synthetic caffeine products, such as energy drinks, have been linked to a higher risk of high blood pressure and irregular heart rhythms. Coffee's benefits also diminish when sugar and high-fat creamers are added.  Brewing methods may matter, too. Cardiovascular benefits have been linked most strongly to paper-filtered or instant coffee. Unfilter...

White Paper from WOCCU Examines How Stablecoins are Reshaping Financial Infrastructure

WASHINGTON– World Council of Credit Unions (WOCCU) has released a new white paper that examines how stablecoins are reshaping the financial infrastructure that credit unions and other cooperative financial institutions rely on to serve their members.  According to WOCCU, the white paper, How Digital Money Is Impacting Credit Unions, Part 1: Focus on Stablecoins , is the first in a planned three-part series exploring how emerging forms of digital money are affecting the global credit union movement.  “The report begins by noting that stablecoins are no longer a niche fintech development, but part of a broader structural shift in how money is stored, moved and regulated,” WOCCU explained. “As commercial banks, payment networks, technology firms and retailers build stablecoin offerings or integrate stablecoin rails into their platforms, credit unions must consider how these changes could affect deposits, payments, member relationships and long-term institutional relevance.” For ...

New GDP Data is ‘Positive,’ Clouds Clearing, Says NAFCU Economist

WASHINGTON–Although discussion and forecasts continue to focus on a recession in the U.S. economy, economic growth remained solid at the end of 2022, according to new federal data. Curt Long The Commerce Department said U.S. gross domestic product, adjusted for inflation, increased at an annual rate of 2.9% in the fourth quarter of 2022, down slightly from a 3.2% growth rate in the Q3. Consumer spending grew at a 2.1% rate, according to the Commerce Department data, which will be revised at a later date. “The big picture view of economic growth in the fourth quarter is a positive one,” said NAFCU Chief Economist and VP-Research Curt Long. “Much of that grow...

Fed Chair Says Inflation To Hang Around a Bit Longer; New Beige Book Data Show Why

WASHINGTON–The chairman of the Federal Reserve told the House the current increase in inflation is temporary, although it will remain elevated in the months ahead before moderating. Fed Chairman Jay Powell’s comments before Congress came on the same day the Fed released its Beige Book analysis, which found an economy showing increasing strength, but also suffering shortages of many materials and manpower. During his testimony before House Financial Services Committee as part of his semiannual monetary policy report to Congress, which he will repeat today before the Senate, Powell said asset valuations have generally risen as the economy has improved and investor risk appetite has grown. “Household balance sheets are, on average, quite strong, business leverage has been declining from high levels, and the institutions at the core of the financial system remain resilient,” Powell said. What About Inflation? As for inflation, which is of conce...

The FedNow Service will launch in 2023 "Are you ready?"

The FedNow Service is a new instant payment service that the Federal Reserve Banks are developing to enable financial institutions of every size, and in every community across the U.S., to provide safe and efficient instant payment services in real-time, around the clock, every day of the year. Through financial institutions participating in the FedNow Service, businesses and individuals will be able to send and receive instant payments conveniently, and recipients will have full access to funds immediately, giving them greater flexibility to manage their money and make time-sensitive payments. Consistent with the Federal Reserve’s historical role of providing payment services alongside private-sector providers, the FedNow Service will provide choice in the market for clearing and settling instant payments as well as promote resiliency through redundancy. Financial institutions and their service providers will be able to use the service as a springboard to provide innovative instant p...