A Letter from the CEO

At the end of every year, we all take time to reflect and take stock of where we find ourselves. 2020 will be a year to remember, filled with challenges that have tested our resolve and problem-solving abilities.

As the National Council of Firefighter Credit Unions Inc (NCOFCU) leaders continue to navigate rapidly changing conditions that impact our ability to meet our members' expectations and needs. It's clear that our firefighter, first-responder credit union's resilience is on full display.

Our firefighter and first-responder credit unions have become nimbler and more adaptive during this crisis. They have exhibited tremendous perseverance in serving workers on the front lines of this pandemic. We must take this time to celebrate and be proud of our community. Ultimately, our fortitude and our collective purpose – firmly rooted in our need for connection, for answers, for personal growth – will see us through this pandemic and beyond.

As 2020 comes to an end, we thank you for being a follower of NCOFCU, and we wish you and your loved ones a happy, safe holiday and may 2021 be filled with good health, professional and personal growth opportunities, and promise.

See you in Fort Worth, TX September 29th – October 2^nd, 2021

Grant Sheehan CEO
NCOFCU

Comments

Let the Truth be Told - Why a New NCUA Rule Could Jolt Credit Union Innovation

The National Credit Union Administration has finalized a rule to improve board and executive succession planning within the credit union industry. This strategic move aims to curb the trend of mergers driven by technological stagnation and poor succession strategies, ensuring more credit unions maintain their independence and enhance their technological capabilities. By Ken McCarthy, Manager of marketing communications at Tyfone Credit unions are merging out of existence because of an inability to invest in technology, the National Credit Union Administration Board wrote when introducing its now finalized rule on board succession planning. The regulator now requires credit unions to establish succession planning for critical positions in their organizations. But it’s likely to have even wider effects, such as preserving more independent charters and shaking up the perspectives of those on credit union boards. “Voluntary mergers can be used to create economies of scale to offer more or ...

Read Complete Article HERE>»

Armand Parvazi MBA CUDE - Last Friday marked his last day with New Orleans Firemen’s Federal Credit Union.

It’s been an incredible journey, but it’s bittersweet to announce that Friday marked my last day with New Orleans Firemen’s Federal Credit Union. We've accomplished so much together in my six years as Chief Administrative and Development Officer. Some of the highlights: Implemented a data-driven marketing strategy that delivers over 1,800% annual ROI. Developed automated triggers to ensure members receive the right offers at the right time. Grew assets by 61% and increased products per new member from 1.88 to 2.62. Converted online banking to enhance the member experience. Introduced a loan origination system for faster and more efficient loan processing. Transitioned to a mobile-first financial institution to meet members where they are. Pioneered the first Cancer Care loan pause program in the nation (in collaboration with Andy Janning ) Secured nearly $17 million in grants for our impactful work. Expanded our field of membership to 35 parishes and counties and added numerous fi...

Read Complete Article HERE>»

Biggest Social Security Changes for 2025

Chris Gash Facebook Twitter LinkedIn Monthly payments are going up, and drop-in service at SSA offices is largely going away The cost-of-living adjustment (COLA) may be the most widely anticipated way Social Security changes from year to year, but it’s far from the only one. Inflation, wage trends and new policies directly affect not just the more than 68 million people receiving Social Security benefits but also the estimated 184 million workers (and future beneficiaries) paying into the system. Here are seven important ways Social Security will be different in 2025. 1. Cost-of-living adjustment Inflation continued to cool this year , resulting in a 2.5 percent COLA for 2025 for people receiving Social Security payments, down from 3.2 percent in 2024 . The estimated average retirement benefit will increase by $49 a month, from $1,927 to $1,976, starting in January, according to the Social Security Administration (SSA). It’s the lowest COLA i...

Read Complete Article HERE>»

Firefighter Credit Union Newsroom

Search This Blog