Firefighter Credit Union Newsroom

CUPERTINO, Calif.–As many had been predicting/fearing, Apple is expanding its presence in payments with a new credit card called Apple Card that one card analyst said is actually three cards in one. The company said the card, which can be instantly issued and has Goldman Sachs as the issuing partner and Mastercard as the network, will launch this summer in the U.S. Apple’s CEO called it the biggest change to credit cards in five decades, and others agree. “Apple Card is disruptive–it is to banking what the iPod was to the music industry, what the iPhone was to wireless carriers and iPads were to the laptop industry, or what Uber is to taxis,” said Richard K. Crone of Crone Consulting, which specializes in payments. “This is a seminal moment in the consumer credit history. Every financial institution will be forced to compete and collaborate with Apple.” Announced during a live event in the Steve Jobs Theater in Apple’s headquarters at which the company also introduced a series of...

WASHINGTON—CUNA has released an updated version of its share insurance fund distribution calculator tool, designed to help credit unions estimate the amount of their distribution from the $160 million announced by NCUA earlier this month. This will be the second distribution from NCUA; as CUTOday.info has reported, the agency paid out $735.7 million in 2018 as a result of the closing of the Temporary Corporate Credit Union Stabilization Fund, which officially closed in Fall 2017. The tool can be found at cuna.org/ecnomics , under the "Individual Credit Union Data and Statistics" tab, CUNA explained.  A financial institution that filed a quarterly Call Report as a federally insured credit union for at least one reporting period in the calendar year 2018 will be eligible for a pro rata distribution. Credit unions using CUNA’s calculator tool can enter their NCUA charter number to get the amount of their estimated equity distribution, the trade associati...

Renee Cowan, president/CEO of Albany Firemen’s FCU , was named to the Albany Business Review’s 2019 “40 Under 40” list. This marks the 20th year the publication has published the annual list, which recognizes the Capital Region’s best and brightest young professionals. Cowan began her career in 2005 as teller under the tutelage of her father Mike Tobler – the credit union’s former president/CEO and a member of the New York Credit Union Association’s board of directors. After earning her bachelor’s degree in business from Siena College, Cowan was promoted to chief operations officer. In June 2018, she was named CEO. During her time in the credit union movement, Cowan has been involved with the Capital Chapter, where she currently serves as Chapter Council secretary and formerly served as chapter vice president. She was also one of the founding members of the Association’s Young Professionals Commission. Cowan is an active participant in local, state and federal event...

MIAMI VALLEY, Ohio (WKEF/WRGT) - Local fire departments and a firefighter's credit union have teamed up to work to keep the Miami Valley safe. Firefighters and Company Federal Credit Union delivered new carbon monoxide detectors to the Tipp City Fire Department Wednesday, which will then be passed out to residents in need. This is the fourth year that they've made donations to local agencies, and officials said they've given away more than 1,500 detectors since the program began. Funding for it is made possible through 'Skip a Payment' fees at the credit union, where people chose to defer a monthly payment on eligible loans. Bellbrook, Brookville, Butler Township, Fairborn, Harrison Township and Trotwood have all also received donations within the past month. Join us in Clearwater Beach, FL   10/1-4/2019 .

May your blessings outnumber the shamrocks that grow. And may trouble avoid you wherever you go. Join us in Clearwater Beach FL 10/1-4/2019 www.ncofcu.org

ALEXANDRIA, Va. (March 7, 2019) – The National Credit Union Administration Board today approved a $160.1 million equity distribution from the National Credit Union Share Insurance Fund that will be paid to eligible credit unions in the second quarter of 2019. “While continuing to advance the objectives of protecting member deposits and maintaining a safe and sound credit union system, we have worked prudently to issue the second largest distribution in the history of the Share Insurance Fund,” NCUA Board Chairman, J. Mark McWatters said. “This action, along with others taken by the NCUA Board, including closing the Stabilization Fund in 2017, kept $1.3 billion at work in credit unions by negating the need for insurance fund premiums and put nearly $900 million back to work in credit unions and their communities with the last two Share Insurance Fund distributions.” “This is the second largest distribution to credit unions in the histor...

CU Solutions Group and AffirmX announce strategic alliance and joint investment CUSG to acquire majority interest in the CU sector rights of AffirmX Compliance Solutions Suite Livonia, Mich., and Frederick, Md. (March 6, 2019 ) — CU Solutions Group (CUSG) and AffirmX announce CUSG's acquisition of the majority ownership of credit union sector rights to AffirmX's patented risk management and compliance solutions. As part of the agreement, CUSG, in conjunction with state credit union leagues, will expand and enhance the delivery of AffirmX's compliance offerings. AffirmX currently serves more than 120 credit unions nationwide with bundled and unbundled compliance risk assessment tools and services, including: Enterprise Risk Management Assessment Regulatory Compliance Monitoring The AffirmX Four Report Package IT Risk and Vulnerability Loan Review Services Fair Lending Risk Assessments Internal Audit Outsourcing Vendor Management Cybersecurity Risk Ass...

March Blog BEST PRACTICES IN BOARD RECRUITMENT ... PART (N+1) BEST PRACTICES IN BOARD RECRUITMENT ... PART (N+1) By Tim Harrington & Kevin Smith Board recruitment should be an ongoing process, a continuing cultivation. Everyone is super-busy, so making this as streamlined as possible for recruit-ers and recruit-ees is imperative. Building business card solutions and one-click information can do this. As part of our roles for TEAM Resources we get the great privilege to spend time with credit ...

A disaster/emergency occurs somewhere in the world almost daily, but these events vary considerably in scope, size, and context. How quickly your company can get back to business after a tornado, a fire or flood or terrorist attack often depends on emergency planning done today . While these incidents have led to an increase in general emergency/disaster awareness, the relative infrequency of major catastrophes affecting defined populations leads to a certain degree of complacency and underestimation of the impact of such an event. A key way to cope with a emergency/disaster or active shooter is to have a plan . Know how to react before, during and after an emergency/disaster. Know the threats that could affect where you live, work and go to school. To refresh your business emergency/continuity plan. Take a minute and watch the Active Shooter Video and download FEMA’s   “Every Business Should Have a Plan”   It is never too early to plan and re-plan f...

NCOFCU Business Solutions Solve, Save, Succeed! "AutoLink For Credit Unions" Why You Need Auto Link™ www.autolink.io Your credit union has the best rates on loans and products, but only 21% of the national auto market share went to credit unions in 2018. The online shopping paradigm shift is changing the way your members buy vehicles and get auto loans. Auto Link™ is a complete member marketing package for your credit union that will increase auto loan revenue by engaging your members in the new digital world. The Changing Auto Market The Internet has changed the way that people purchase vehicles and has caused credit union members to turn to alternative financing. In 2016, the average consumer spent  15 hours  online researching before buying a new or used vehicle. During this time, the consumer is bombarded with fast, 'low-interest' financing offers from banks, dealerships, and other sources.  Financing is often approve...