Skip to main content

A Thank You letter

We have used FreeConferenceCall here at NCOFCU for years and have been very pleased with their service so I thought I would pass on their thank you letter and video.

Last week was one without precedent. I want to send a thank you to everyone in our FreeConferenceCall.com community. The Work From The home industry was given the ultimate test last week as audio and video usage soared past record levels. All in the industry worked tirelessly to meet that challenge. The difference for us was you.


Most Importantly, Thank You: Many companies in the industry dealt with customers expressing displeasure when there were service disturbances. Our community, on the other hand, was beyond incredible. You gave us patience when you could have given frustration. You gave us support. You are the best part of FreeConferenceCall.com and we want to thank you.
You Brought Free Communications To Millions Of People: A lot of people don’t know this but when you use FreeConferenceCall.com you help us give free communications to charities, volunteers, and students all over the world. If you’d like to see how and if you could use a smile, check out this quick video.

A Shocking Number Of You Made Contributions: We’re able to offer free communications because of you. When people choose to pay us what they think is fair for our service it helps us build the infrastructure needed to make sure everyone has access to world-class communications. This week that infrastructure was tested. We are adding to it. Your contributions help make that possible. If you’re interested in learning more, click here and login.


Comments

Popular posts from this blog

Senate Banking To Vote Thursday On Landmark Digital Assets Bill

“NCOFCU appreciates the Senate Banking Committee’s continued work during next week’s markup hearing to establish a clear and responsible regulatory framework for digital assets,” said the National Council of Fire Fighter Credit Unions (NCOFCU) leadership. “As lawmakers consider this legislation, it is essential that first responder credit unions are recognized as a vital part of the financial services ecosystem and are not overlooked in the evolving digital asset landscape. Credit unions serving police, fire, EMS, and other emergency personnel must have equitable access to innovation, regulatory clarity, and the tools necessary to continue supporting the financial readiness and resilience of America’s first responders.” Grant Sheehan CEO WASHINGTON—The Senate Banking Committee will vote on the long-awaited CLARITY Act this Thursday, Committee Chairman Tim Scott (R-SC) announced Friday. Tim Scott The announcement marks a potentially major step forward for legislation that would establis...

Cutting Through The Stablecoin Noise—What Credit Unions Actually Need To Know Now

By Ray Birch DOVER, Del.—By any measure, stablecoins have quickly become one of the most talked-about—and least understood—topics in credit union boardrooms. The pressure to “do something” is building, fueled by headlines, fintech momentum and a growing fear of being left behind. But according to InvestiFi CEO Kian Sarreshteh, that urgency may be misplaced. “There’s a lot of FOMO right now,” Sarreshteh said. “If I don’t adopt a stablecoin solution this year, I’m going to be left behind. I would argue pretty strongly that’s very far from the truth.” Instead of rushing to sign up for a Stablecoin pilot, Sarreshteh said credit unions should begin with a more fundamental question: what problem are you actually trying to solve? While stablecoins are often discussed as a potential challenger to traditional payment rails dominated by Visa and Mastercard, he believes that kind of mass-market disruption remains years away—especially in the U.S., where consumers already have fast, convenient opt...

NCUA Identifies Supervisory Priorities for 2024

ALEXANDRIA, Va.–In a new  Letter to Credit Unions , NCUA has outlined its supervisory priorities and other updates for its 2024 examination program. The agency said the areas identified are those with the highest risk to credit union members and the insurance fund. As CUToday.info has previously reported, growing financial strains and liquidity risks are cited by the agency, as well as the growth in the number of composite CAMELS code 3, 4, and 5 credit unions.  The agency further noted: Its exam flexibility initiative will continue in 2024, extending the exam cycle for certain credit unions. It will continue its Small Credit Union Exam Program in most federal credit unions with assets of $50 million or less. Supervisory Priorities f...

Visa, Mastercard Revisions Will Cost Merchants more Than $475 Million Annually, Economist Says

 NEW YORK—The two biggest U.S. card networks are preparing revisions to their interchange schedules that at least one research firm says will cost U.S. merchants an estimated $475 million in additional transaction fees. Though Visa Inc. and Mastercard Inc. have historically revised their rate schedules each April and October, “this April is particularly significant,” Callum Godwin, the Atlanta-based chief economist for CMSPI, a United Kingdom-based research firm, told Digital Transactions. The firm’s estimates indicate the changes in Visa’s rates will add up to a net $145 million in additional cost to acquirers. For Mastercard, the impact will net out to $330 million. The networks do not collect interchange. Merchant processors pay in...

Hood: Credit unions are safe and sound

Hood’s term on the NCUA Board will expire in August.  NCUA Board Member Rodney Hood appeared via live stream with Brad Barnes, Air Academy Credit Union, and Amy McGraw, Tropical Financial Credit Union. The regulator lauds strong membership, asset, and loan growth. Despite recent headwinds, including high-profile bank failures, the credit union movement is still safe and sound, says Rodney Hood, NCUA board member, and immediate past chairman. “We’re not seeing the contagion like at other financial institutions,” says Hood, who addressed the 2023 CUNA Finance Council Conference Monday via live stream. The Silicon Valley Bank (SVB) crisis was one of confidence, he says. Ninety percent of SVB’s deposits were uninsured. In comparison, more than 91% of credit union deposits are insured. “We don’t have those entanglements,” Hood says. “That bodes well for our future.”  He lauded America’s 4,800 credit unions for growing membership to 135 million, assets to $2.2 trill...

The 10-Year Fixed-Rate Mortgage Worth Bragging About

Sound like anyone we know? “Approximately half of its membership is 50 years old or older, says Star One marketing manager Susanna Fong. The 10-year mortgage is meant to entice those members close to retirement to bring their loans — including the remainder of a 30-year-mortgage — to the credit union.” How Star One’s 14-month-old mortgage product attracts both young professionals and soon-to-be retirees. By Erik Payne creditunions.com For borrowers nearing retirement, desirable mortgage options are limited. Long-term loans can extend into retirement years and cut into savings earmarked for food, travel, and other expenses. Short-term loans can make budgeting difficult for the remaining working years. Star One Credit Union ($7.2B, Sunnyvale, CA) understands that borrowers want to be free of loan obligations before they leave the workforce without breaking the bank to do so. So in January of 2014, the credit union introduced a promotional 10-year fixed-rate mortgage that charges no...

IRS Reporting Requirement Has Turned Into Uphill Battle for CUs

  It’s in. It’s out. It’s in again. On Thursday, NAFCU, CUNA and more than 100 associations sent a letter to all members of the U.S. House of Representatives and Senate asking them to reject a proposed IRS reporting requirement that credit union trades have been pushing back against since July . The proposed IRS reporting requirement would require financial institutions, including credit unions, to report the inflows and outflows of personal and business accounts, as well as transfers between accounts of the same owner, if it is more than $600 per year. The proposal found new life inside the House version of the budget reconciliation bill after it was rejected in the version approved by the House Ways and Means Committee last month. On Tuesday, Speaker of the House Nancy Pelosi (D-Calif.) said the IRS reporting requirement would be included in the House version of the bill. CUNA, NAFCU and other organizations voiced their objections to the proposal in a joint letter. While the l...

The Most Overlooked Growth Opportunity in First Responder Credit Unions

Credit unions spend enormous amounts of time, energy, and marketing dollars trying to acquire new members. But many institutions — especially sponsor-based first responder credit unions — are sitting on one of the most valuable growth opportunities already inside their existing membership base. The joint owner population. Every day, firefighters, police officers, EMTs, dispatchers, and other first responders join credit unions through sponsor relationships. During account opening, spouses or partners are often added as joint owners for convenience. They help manage the household finances. They use the debit card. They log into online banking. They interact with the credit union regularly. Yet in many cases, they never actually become full member-owners of the cooperative. They are connected to the institution — but not fully part of it. And that creates a major strategic opportunity. Why Joint Owner Conversion Matters For sponsor-based credit unions, converting joint owners into full m...

'Victory is Elusive': CU Economist Agrees Fed Rate Cuts Questionable Following New CPI Report

04/10/2024 11:01 am WASHINGTON–A credit union economist has joined with other economists and analysts in forecasting a delay in any rate cuts by the Fed in 2024 following today’s inflation report. The newly released Consumer Price Index climbed 3.8% on an annual basis after stripping out food and fuel prices. That “core” index was stronger than the 3.7% increase economists expected, and unchanged from 3.8% in February.  Counting in food and fuel, the inflation measure climbed 3.5% in March from a year earlier, up from 3.2% in February and faster than what many had forecast.  "Victory in the Federal Reserve's inflation fight remains elusive with a stubbornly high headline consumer price index increase of 0.4% in March, matching February's disappointing result,” said America's Credit Unions VP-data and research, chief econom...

How to Comply in the New World of Complaints

NASHVILLE–It’s not enough anymore to receive a member complaint and to respond with just an apology. Not surprisingly, with Washington now much more involved, member complaints have become a formal process with penalties involved when those complaints aren’t addressed and resolved.  That has required credit unions to create complaint tracking systems and one CU that has done so shared some of its processes and lessons learned during the NAFCU annual meeting here. One thing that was clear: complaints are not just what a teller might hear. Complaints can come via numerous channels, including regulators, and can be related to everything from credit reports to RESPA letters to mortgage rules and much more.  “Complaints run the gamut, but the key is complaint management,” said Mitchell B. Klein, an attorney who is also the chief risk officer with Citadel FCU. “All of these types of complaints need to be managed in some fashion and in a timely way. You don’t want to get in ...