First-responder Credit Union Newsroom

Although swings in net exports continue to affect the data, recent indicators suggest that the growth of economic activity moderated in the first half of the year. The unemployment rate remains low, and labor market conditions remain solid. Inflation remains somewhat elevated. The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. Uncertainty about the economic outlook remains elevated. The Committee is attentive to the risks to both sides of its dual mandate. In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 4-1/4 to 4-1/2 percent. In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage‑backed securities. The Committe...

  Who's Making Rate Decisions at the Fed? The  Federal Open Market Committee (FOMC)  is responsible for making decisions about interest rates. The FOMC is made up of 12 voting members: 7- Board of Governors, 1- President of the Federal Reserve Bank of New York and 4- Reserve Bank presidents who serve one-year rotating terms. The FOMC meets eight times a year, and a majority vote is not required to approve any rate changes. The President appoints , with Senate approval, the seven Board members, including the Chair. Currently, Chair Jerome Powell’s term as Chair runs until May 15, 2026. His term as a Board member lasts until January 31, 2028. President Trump has repeatedly pressured the Fed to lower rates, even calling for a 1% Fed Funds Rate. He also threatened to fire Chairman Powell, a move that could create chaos given Powell would remain on the Board. While no one can predict exactly what the President will do, his public stance has been clear: he favors lowe...

In light of the recent active shooter incident, we want to express our deepest condolences to the families of those who lost their loved ones and to all those who were injured. Our thoughts and prayers are with them during this incredibly difficult time. NCOFCU Unfortunately, due to the recent workplace shooting,  it is a good time to review your Active shooter plan. The "Run-Hide-Fight" video can indeed be difficult to watch, as it addresses the unsettling reality of active shooter situations. However, it's essential to recognize how necessary it is to be prepared for such scenarios.  Trustage 2025 PowerPoint on Active Assailant provided by  Michael A. Petrone Consultant, Risk & Compliance Solutions O 608.665.5187 |C 603.770.7510 | F 608.218.2231 Michael.Petrone@trustage.com| bio | Visit us online https://static1.squarespace.com/static/64906ba11637b06efedeacc7/t/6888ea6b2aeab3796ea801eb/1753803375018/ActiveAssailant+2025.pdf  

  Roller coasters 101 Roller coasters are typically gravity- or inertia-powered trains that “coast” through steep drops, twists, and turns and are designed to offer thrills to amusement park visitors. Nearly 7,000 are currently operable worldwide, with almost a third located in China ( see database ). Prototypes emerged as  early as the 17th century , and engineers have since made incredible advances in size, speed, mechanics, and safety. The rides are a perennial summer bucket list item, forming the backbone of the $70B global theme park industry.  Roller coasters activate our  sympathetic nervous system , which stimulates our fight-or-flight response. Endorphins like dopamine, serotonin, and oxytocin are released, bringing riders to a euphoric state. Doing so in a safe, regulated setting allows us to  enjoy the sensation , similar to what one may experience while watching a horror movie. ... Read our full  d...

  Revolutionizing Credit Unions: Health Insurance with Allstate July 24, 2025 Join Grant Sheehan, CEO of the National Council of Firefighter Credit Unions, as he hosts Murray Halperin, President & Founder of CU First Responders Finance (CUFR), in a compelling discussion. Discover how CUFR is revolutionizing the credit union landscape by introducing innovative financial products and services, including a groundbreaking partnership with Allstate for a comprehensive turnkey health insurance marketplace. Learn how this partnership empowers credit unions to expand their services, providing essential health insurance options to their members in an increasingly complex healthcare landscape. Halperin delves into the strategic importance of this initiative, offering a comprehensive toolkit for credit unions to elevate their community role while exploiting new technology avenues. Murray Halperin, Managing Member (561) 393-3770 x 100 murrayh@financeresponders.com       ...

 

  The Government's Tab       The National Debt, 101 The national debt is the total amount of money the federal government has borrowed, plus interest. This borrowed money supplements taxpayer dollars to fund government operations, from national defense to welfare programs. Today, the debt stands at over $36T , double the amount in 2014. The US has accrued debt since its infancy. Only seven years into nationhood, debts from the Revolutionary War totaled $43M. To raise money beyond taxes, the US government primarily sells bills, notes, and bonds   (collectively called securities) to domestic and foreign individuals, companies, and other governments ( see chart on annual interest payments on the debt here ). Where the nation should cut spending and how much,...

  Congress is considering new legislation around cryptocurrency, and these new tools could have profound implications for the industry. Andrew Lepczyk Creditunions.com Cryptocurrency is seemingly everywhere in 2025, including member’s  virtual “wallets .” A  2022 study from CUNA  – now known as America’s Credit Unions – found cryptocurrency ownership among credit union members stood at 39%, as opposed to 17% of the general population. In some ways this makes sense; many Americans who feel excluded from the traditional financial system are drawn to cryptocurrency, mirroring the relationship many members have with their credit union. While there are plenty of enthusiasts, cryptocurrency also has its detractors. Many dismiss crypto ownership as speculative, and cryptocurrency as nothing more than an overly risky, volatile asset. Public failures of companies like FTX have only made the critics louder. A  recent study from the Pew Research Center  found 63% of r...

  The Art of Thoughtful Discourse in a Noisy World In an era where opinions flood every corner of social media, news platforms, and casual conversations, the sheer volume of voices can be both inspiring and overwhelming. Everyone seems to have something to say, and while it's a beautiful thing to witness such diverse perspectives, it raises an important question: how can we ensure that our contributions are meaningful and resonate with others? The Power of Evidence-Based Opinions At the heart of impactful communication lies the value of substantiation. Personal views are indeed intriguing and can spark engaging discussions. However, without solid evidence or context to support them, these opinions can quickly lose their potency. When we articulate our thoughts without backing them up, we risk contributing to the noise rather than enhancing the dialogue. To make meaningful contributions, it’s essential to prioritize reasoning over reflexivity. Taking the time to gathe...

    Federal Budget, 101 The US federal budget outlines how the government plans to both raise revenue and spend it via its 3 million workers across more than 400 agencies in a given fiscal year.  The president submits   a detailed budget request to Congress. Congress then reviews this proposal   and develops its own budget resolutions through 12 appropriations bills. If there's an impasse, "continuing resolutions"   can be temporarily used to maintain funding while bills are debated.  Federal spending is divided into two main categories:  mandatory and discretionary . Mandatory includes expenses required by existing law (like Social Security, Medicare, and Medicaid). Discretionary spending includes funds for programs subject ...

  Unlocking the Future: How Generative AI is Transforming Credit Unions In the rapidly evolving financial landscape, technology plays an increasingly pivotal role. Among the most exciting advancements is Generative AI, which is poised to transform how credit unions operate and serve their members. Read on to discover how generative AI can reshape the member experience and optimize operations within credit unions. What is Generative AI? Generative AI refers to a class of artificial intelligence that can create new content—such as text, images, and audio—based on existing data. Unlike traditional AI, which focuses on analyzing and recognizing patterns, generative AI synthesizes new information, offering exciting possibilities for financial institutions, particularly credit unions. The Applications of Generative AI in Credit Unions Personalized Financial Advice Credit unions pride themselves on their member relationships, and generative AI can enhance these connections....