Firefighter Credit Union Newsroom

Fire Family Foundation Hosts Sixth Annual Fire Boot Classic on Saturday April 27th Charity Event Supports Firefighters Published: Thursday, April 25, 2019 | 2:25 PM Firefighters…  They risk their lives every day to protect their community … “to protect us, our lives and our property. They are men and women like you and me, yet, they serve… every day to ensure that we are safe.” Their commitment to helping others is second to none. With all of the devastating fires the past few years, many firefighters lost their homes while helping to save so many others. On April 27, 2019, Fire Family Foundation is hosting its 6th Annual Fire Boot Classic Charity Event at the London Hotel in West Hollywood. This event is a Casino Night and Poker Tournament, with Drinks, Dining, a Silent Auction, Live Auction, and Fun! The funds raised from this event will support the Firefighter Relief fund that provides financial assistance to firefighters and their families in times of need. ...

Ahhh, credit union strategic planning topic season. Let’s take off our pessimistic blinders, pull out our beanies and start thinking of the credit union world we want tomorrow. Soon, our credit union will disrupt the local banks. We will put them those evil bankers out of business and take over the world… cooperatively (of course). If you are looking for quick strategic questions to ask your board at your credit union planning session, you are in the right place. Credit Union Strategic Planning Topics About Growth If you had to process 3x your normal loan or member growth volume, how would you? Where do you want to be in 3 years? What market trends support that vision? What client demands support that vision? What are the tactical plans to support that goal? What are the known risks? If you could rebuild the credit union 2.0, what would it look like? What are the top 10 questions we have about our credit union (analytics based)? What would you do differently if ...

The National Council of Firefighter Credit Unions Inc (NCOFCU)  is thrilled to announce that this year’s closing session at  Clearwater Beach, Florida conference , October 1 – 4, will feature, speaker, author, and presenter   Kirk Drake ! Kirk has been helping credit unions climb mountains for nearly two decades. As the President/CEO of Ongoing Operations and founder of Credit Union 2.0, he has provided credit unions with the tools, playbook, and strategies they need to excite their members and scale the summit to the top of the field. Most recently, he was a keynote speaker at the CU Leadership Convention in Las Vegas! But you don’t have to travel far to take advantage of his know-how, because this year, we are bringing Kirk to Florida! What can you expect from Kirk Drake? Well, in recent decades, credit unions have seen unprecedented threats, due in large part to an eighty-year-old business model and an inability to adapt quickly to a digital ec...

WASHINGTON–The Fed has released minutes from its March meeting, offering additional insights into its decision to make no changes to rates. As CUToday.info reported earlier, the Fed opted not to change rates at its March meeting and is now indicating it’s unlikely to change rates at all during 2019 and perhaps won’t move again until 2021. President Trump has been pushing the Fed to lower rates to encourage greater growth. Minutes released by the Federal Open Market Committee (FOMC) show the FOMC found the labor market remains strong but that “growth of economic activity has slowed from its solid rate in the fourth quarter.” The FOMC further found payroll employment was little changed in February, but job gains have been solid, on average, in recent months, and the unemployment rate has remained low. “Recent indicators point to slower growth of household spending and business fixed investment in the first quarter,” the Fed said in a statement. “In a...

ALEXANDRIA, Va. (April 8, 2019) – President Donald J. Trump has designated Rodney E. Hood as the eleventh Chairman of the National Credit Union Administration Board. Today, as his last official action as Chairman of the Board, J. Mark McWatters administered the oath of office to Mr. Hood, at the NCUA headquarters. “It is an honor to have been nominated by President Trump, confirmed by the U.S. Senate, and sworn in by Chairman McWatters to serve as the eleventh NCUA Chairman,” Mr. Hood said. “I look forward to leading the agency and focusing on the safety and soundness of America’s credit unions as they operate in today's ever-changing marketplace. As President Trump’s pro-growth economic agenda seeks to empower individuals and communities across the nation, America’s credit unions are on the frontline of providing affordable access and opportunity to the financial system. “Over the next four years, I will be especially honored to lead the talented and professional NCUA...

WASHINGTON—The Department of Labor (DOL) has issued a proposed rule to amend overtime rules under the Fair Labor Standards Act (FLSA). Increases the minimum salary required for an employee to qualify for overtime exemption from $23,660 to $35,308 per year Increases the total annual compensation requirement for highly compensated employees (HCE) from the currently-enforced level of $100,000 to $147,414 per year Establishes a four-year, periodic review of the salary threshold Allows the use of nondiscretionary bonuses and incentive payments (including commissions) that are paid annually or more frequently to satisfy up to 10% of the standard salary level As covered employers, virtually all credit unions are subject to the department's overtime rules and could be impacted, said NAFCU, which noted the proposed rule makes the following substantive changes: Under the proposed rule, credit unions could be impacted by changes to the salary level applicable to the exec...