Firefighter Credit Union Newsroom

OMNICOMMANDER INC. announced the launch of BRANCHCOMMANDER ™, an all-in-one Digital Branch™ solution, poised as the new gold standard for digital transformation in the financial industry.  According to OMNICOMMANDER, this new offering is the culmination of industry knowledge attained through the meticulous design and ongoing management of nearly 600 financial institution websites and over 3 million members. Unlike a website, BRANCHCOMMANDER is a fully optimized Digital Branch created specifically for financial institutions’ online visitors.   A key differentiator of BRANCHCOMMANDER is the interactive live chat feature. The chat function is not powered by AI or a third-party call center – it’s powered by OMNICOMMANDER employees. Thoroughly trained chat agents assist online visitors in navigating the Digital Branch, answer routine questions about how to join, guide them through selecting products and services, and much more.  Josh Gallo Regional Manager Cell: 917 ...

        Helping families and their businesses plan for the future     Protecting Your Partner: The Importance of Advance Directives for Unmarried Couples   Estate planning is often overlooked by unmarried couples, yet it is crucial for ensuring that their wishes are respected in times of need. One critical aspect of estate planning for unmarried couples is the creation of advance directives, including a durable power of attorney and a healthcare proxy. These legal documents appoint someone to make financial and medical decisions on their behalf if they become incapacitated. Without these directives, unmarried partners may face significan...

Diana Dykstra Diana Dykstra, President and CEO of the California and Nevada Credit Union Leagues, announced today she plans to retire this year after more than four decades of financial services leadership.   Never one to do things as “they’ve always been done,” Dykstra’s constant challenge of the status quo earned her accolades throughout her career. Among other honors, she was one of the first inductees into the Credit Union Museum’s “Credit Union Women Making History: Herstory” exhibit in 2022, was awarded the National Credit Union Foundation’s Herb Wegner Memorial Award in 2019 in recognition for her lifetime of service and received the American Association of Credit Union Leagues’ (AACUL) Eagle Award in 2014 – the highest possible honor for League service. Dykstra’s retirement date is set for July 1, 2024.   “The past 40-plus years have been an incredible journey. I am deeply grateful for the opportunity to  guide and collaborate wit...

Digital wallets are becoming more popular with consumers using smartphones and other mobile devices to make purchases. Here's why — and how — bankers should be preparing for a future where the use of this payment option is even more widespread. U.S. consumers are embracing digital payments, which is, in turn, giving a boost to digital wallets. Leaders at banks, credit unions and fintechs should take note and strategize accordingly. Most people — 64% — now say they use digital wallets at least as much as traditional methods of payment, such as paying with cash or a card, according to a Forbes Advisor survey of 2,000 U.S. consumers with bank accounts. And just over half — 53% — say they use digital wallets even more often than traditional payment methods, the August 2023 survey shows . The pandemic prompted many people to try contactless payments for the first time, as such options were viewed as more hygienic and, thus, safer. The pandemic also drove up the adoption of m...

  Home Mortgage Disclosure Act Data Requirements Subject HMDA To Federally Insured Credit Unions Status Active Dear Boards of Directors and CEOs: If your credit union makes residential mortgage loans and meets all four criteria outlined below, you must comply with the Consumer Financial Protection Bureau’s (CFPB) Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). 1 HMDA Data Collection Requirements for Calendar Year 2024 Regulation C requires you to collect HMDA data associated with mortgage loan applications processed during 2024 if: Your credit union’s total assets as of December 31, 2023, exceeded $56 million; 2 Your credit union had a home or branch office in a Metropolitan Statistic...

For more than 40 years, Judy DeLucca has been moving people forward toward their goals. From the dedicated staff of New Orleans Firefighter’s Federal Credit Union (NOFFCU) who thrive under her leadership to the partners she’s connected to help combat predatory lending, to the members of the credit union and community who struggle to find their financial footing, Judy and her team have been there to answer the call.  Judy’s core belief in financial inclusion for all hasn’t just inspired the people around her. It has been a catalyst for initiatives that are improving lives in Louisiana and Mississippi every single day. As the CEO of a Community Development Financial Institution (CDFI), she has paved the way for more than 50% of the credit union staff to become Certified Credit Union Financial Counselors and the formation of a Financial Inclusion Team. The one-on-one counseling and innovative solutions they provide make all the difference in their members fe...

WASHINGTON—The U.S. economy will experience moderate growth in 2024 while avoiding recessions, America’s Credit Unions’ economists forecast in ACU’s January Economic Update. According to the trade group’s economists Curt Long and Mike Schenk, liquidity, loan performance cost of funds, and operating expenses will combine to make a “challenging year for earnings.” “We expect credit unions to face a challenging earnings environment in 2024. Cost of funds is rising rapidly, which is weighing on net interest margins,” the economic forecast reads. “Loan delinquencies are also climbing, particularly the credit card and auto segments. While member demand for loans will likely rise this year, those credit unions with tighter liquidity will not be able ...

WASHINGTON–Inflation cooled again in January, although it remained higher than many had expected and hoped. According to the new Labor Department data, consumer prices were up 3.1% in January from one year earlier, vs. a December gain of 3.4%. That marked the lowest reading since June. The Bureau of Labor Statistics numbers further found core prices, which exclude food and energy items, were up 3.9%, which was equal to December’s gain and the lowest since mid-2021. From a month earlier, overall prices were up 0.3%, and core prices were up 0.4%—larger gains many had predicted. "Headline inflation over the previous 12 months declined in January although monthly prices came in a little higher than expected,” said Dawit Kebede, senior economist with America’s Credit Unions. “A combination of lagging indicator for rent and high price increase for lodging away from home led to a large increase in shelter price contributing for t...

        Helping families and their businesses plan for the future     Navigating the Waters of Trust Funding: A Crucial Step in Estate Planning   Introduction   Although establishing a trust is a powerful tool to ensure the seamless transfer of assets to beneficiaries while minimizing the complexities of probate, merely creating a trust is not the end of the road. Properly funding the trust is a crucial step that often requires careful attention to detail and adherence to legal protocols. In this article, we will explore the intricacies of trust funding, shedding light on the importance of this process in preserving y...

New Orleans Firemen's Federal Credit Union | February 9, 2024 Financial Education There’s little in life that’s more frustrating than a computer that won’t do its job. But sometimes,  like your own private miracle, a message appears on your screen. It says: “Technical difficulties? Click here for assistance.” Unfortunately, if you follow these instructions, you’ll probably fall directly into a scammer’s trap. Here’s what you need to know about technical support scams and how to prevent yourself from falling victim.  How the scams play out In a tech support scam, a target will get an email, text message, pop-up or even a phone call allegedly from a computer technician who works for a well-known company. The “rep” will offer to help with any computer issues they may (or may not) have. They’ll direct the target to call a specific number or click on an embed...

By Ray Birch ALEXANDRIA, Va.—Not only will credit union overdraft programs be getting scrutiny this year from NCUA, but the agency will also be expanding the number of credit unions it will be watching, according to Todd Harper, who said the issue is about more than just fairness for consumers but also about concentration risk. In an exclusive interview with CUToday.info, NCUA’s chairman said the agency in 2024 will be looking at overdraft programs of all credit unions above $100 million in assets. In 2023, the threshold was $500 million. Harper is cautioning that credit unions that rely too heavily on overdraft income will need to change their business model. As CUToday.info previously reported , Harper recently spoke to the Brookings Institution, where in addition to a broad update on CU- and agency-related issues, he also indicated the agency will be giving greater scrutiny to overdraft programs and that examiners this year will continue an expanded review of credit uni...