Firefighter Credit Union Newsroom

The Federal Reserve Board on Wednesday issued its   Economic Well-Being of U.S. Households in 2024  report, which examines the financial circumstances of U.S. adults and their families. Overall, the report shows that financial well-being was similar to the previous two years as concerns about prices persisted and labor market conditions remained solid. The report draws from the Board's annual Survey of Household Economics and Decisionmaking (SHED), which was fielded in October 2024. It analyzes a wide variety of topics including financial well-being, handling expenses, employment, and gig work. This year's report finds that 73 percent of adults reported either doing okay or living comfortably financially, similar to recent years but lower than a high of 78 percent in 2021. The share who would cover a $400 emergency expense using cash or its equivalent was also nearly unchanged from recent years at 63 percent. Inflation and prices continued to be the top financial concern. A ma...

  Board Action Bulletin ALEXANDRIA, Va. (May 22, 2025)  – The National Credit Union Administration Board held its third open meeting of 2025 and received a briefing on the agency’s Voluntary Separation Program (VSP) and the performance of the National Credit Union Share Insurance Fund in the first quarter of 2025. NCUA’s Voluntary Separation Program Meets Operational Needs The NCUA Board received a  briefing (Opens new window)  from the Executive Director and Deputy Director of the Office of Examination and Insurance on the NCUA’s Voluntary Separation Program. This program is part of the agency’s efforts to comply with Executive Order 14210,  Implementing the President’s “Department of Government Efficiency” Workforce Optimization Initiative . “Throughout this process, my top priority was to design a program that provided employees with certainty, was voluntary and fair, and allowed the NCUA to meet its operational needs,” NCUA Chairman Kyle S. Hauptman said. “T...

The word merger conjures up many different emotions in the credit union space: growth, loss of identity, opportunity, inevitable. Rest assured, your credit union is in control of your destiny to serve your members. When you consider the idea of merging, it is vital to embark on a thoughtful journey to determine what is right for your credit union. After all, it is a forever-decision; mergers are never “undone.” Here are a few key considerations. The merger question Do you have to merge? In most cases, the answer is no. If you “have to merge,” you likely have waited too long to make necessary changes to be ready for the future. Of course, there are a few completely unexpected impacts that can take your options away and fast.   If you choose not to merge, you may have a tough, yet worthwhile adventure ahead. But then again, if you choose to merge, you will have a tough, yet worthwhile adventure ahead. Bottom line, you will need an honest strategy that will guide your organi...

  PURCHASE, N.Y.—Mastercard has introduced a new solution to make it easier to make and receive stablecoin payments, saying the move will allow consumers to use stablecoins as easily as the money in their bank and credit union accounts. “While banks and fintechs are increasingly engaging with solutions built on stablecoins, global ubiquity and scale is contingent on everyday utility, seamless integration into existing financial systems, and an intuitive user experience,” Mastercard said. Mastercard’s solution:   Wallet enablement, card issuing and acceptance:  Mastercard’s partnerships with crypto natives like MetaMask, Kraken, Gemini, Bybit, Crypto.com, Binance, Monavate and Bleap allow consumers to enter the crypto ecosystem to earn rewards, pay, and spend the stablecoins in their crypto wallets via traditional cards at the over 150 million merchant locations accepting Mastercard globally, as well as withdraw stable...