First-responder Credit Union Newsroom

Judy Delucca  Honored as  the National Council of Firefighter Credit Unions Inc ( NCOFCU )  "Lifetime Achievement Award" Key West, Florida, 9/25/25 – The National Council of Firefighter Credit Unions, Inc. (NCOFCU) is proud to announce that Judy Delucca, CEO of the New Orleans Firemen's Federal Credit Union, was honored with the NCOFCU "Lifetime Achievement Award". Today, under her leadership, New Orleans Firemen’s Federal Credit Union has grown to 11 branch locations across southeast Louisiana and southern Mississippi. It has been recognized as a Best Place to Work and a Best Credit Union for four consecutive years. The credit union now offers a comprehensive range of financial products, including checking accounts, mortgages, credit cards, IRAs, and more. As a Community Development Financial Institution (CDFI), it remains dedicated to serving the 35 parishes of underserved and underbanked communities, as well as over 500 select employee groups, while continuin...

  Market Downturns       A brief look at recessions Stemming from the Latin word “recessus” (meaning “a retreat”), recessions are sustained periods of declining activity in a country’s economy. During a recession, unemployment rises while economic output falls across a large swath of industries. Recessions are inevitable in modern economies , with one occurring about every six to seven years.   One common definition of a recession is when a country logs two consecutive quarters   of shrinking gross domestic product, but in practice, these econo...

Announcing the First Class of Certified Credit Union Professionals (CCUP) Key West, Florida – The National Council of Firefighter Credit Unions Inc. (NCOFCU) is thrilled to announce the inaugural class of Certified Credit Union Professionals (CCUP), taking a significant step towards advancing the standards of professionalism and expertise in credit union governance. This elite certification program, launched during the NCOFCU annual educational conference, provides participants with a unique opportunity to enhance their professional development, gain specialized training, and expand their network while receiving guidance from industry leaders. Over the course of two years, participants will have engaged in comprehensive sessions covering critical topics such as governance best practices, regulatory compliance, risk management, and strategic planning. "Earning the CCUP certification signifies a professional's 2-year commitment to excellence and continuous learning in cred...

  ALEXANDRIA, VA  (September 26, 2025)  |  The National Credit Union Administration (NCUA) today announced it has  ceased using reputation risk and equivalent concepts in the examination and supervisory process. These updates follow White House Executive Order 14331,  Guaranteeing Fair Banking for All Americans , which requires federal banking regulators to remove the use of reputational risk or equivalent concepts that could result in politicized or unlawful debanking.  NCUA employees will no longer base supervisory concerns on reputation risk, nor will they refer to or engage in discussions about reputation risk as part of examinations and supervision contacts of a credit union or credit union service organization.   The agency will continue to include key review areas historically classified under reputation risk, like financial liability associated with active litigation and insider abuse, as part of an examination as necessary. NCUA is c...

September 26, 2025 The NCUA posted a proposed 2026-2027 budget on its website for review and comment. The proposed combined 2026 budget, drafted by staff, is $313.8 million. That’s a 20.6% decrease from the 2025 budget. According to the NCUA, it will issue a notice about a public hearing on the budget on a future date. Three main drivers contribute to the reduction in proposed 2026 budget levels: 23% percent reduction to NCUA staffing levels; 34.1% reduction to contracted services budgets, and 13.4% reduction in budgets for employee travel. “Credit unions have long been concerned about year-after-year budget increases at the NCUA, without any clear justification. A 20% reduction in the proposed 2026 budget is significant, and America's Credit Unions appreciates the NCUA for considering ways it can operate more efficiently. While most of the reduction correlates to reduced staffing and travel, we will continue to monitor the impacts on credit union su...

  DALLAS—When John Wingate looks at the year ahead, he sees credit unions going all in on the stablecoin market at a pace few could have imagined just months ago. Wingate, president and CEO of BankSocial, predicts that by the end of 2025, “a couple handfuls” of credit unions will have launched their own stablecoins, 50-60 will have utilized tokenized deposits and a similar amount will have embedded DLT rails into their digital bank sign-in experience, experimenting with everything from rewards programs to new lending models. iStock-Hammad Khan But he cautions that this period, where Credit Unions issue their own private stablecoins, feels less like the final shape of things to come and more like what he calls “wildcatter season”—a reference to the freewheeling days of frontier money in the 19th century. Stablecoins, digital tokens pegged to the U.S. dollar, promise faster transactions and cheaper payments. But tokenized deposits also offer new ways for credit unions to reward their...

  SEATTLE–The CUSO  Member Access Processing  (MAP), a provider of Visa DPS debit, credit, ATM, and digital payment processing, said it is entering into a partnership with Dolphin Debit, the ATM and ITM management company.  “We are excited to partner with Member Access Processing,” Joe Woods, SVP-marketing & partnerships at  Dolphin Debit , said in a statement. “Our two organizations have a strong track record of providing exceptional service and solutions for our clients.   We are confident that this partnership will be a great success for both organizations and the credit unions we serve.”  Dolphin Debit noted it has partnerships with many credit union associations and operates all makes and models of ATM equipment in various branch and off-premise venues, working with over 350 financial institutions across the United States.  ‘Strengthened’ Ability “At MAP, we’re committed to helping credit unions serve their members and grow their car...

  After nine months of staying on the sidelines, the Federal Reserve on Sept. 17 announced a quarter-percentage-point cut, likely the first in a series of reductions to usher in lower borrowing rates for consumers. The rate cut – the Fed’s first since late 2024 – lowers the Fed’s benchmark interest rate to a range of 4% to 4.25%. Officials signaled the possibility of two more rate cuts this year. Typically, the Fed hikes rates or keeps them steady to tame inflation. The central bank lowers rates to juice the economy. While the Fed previously held back on rate cuts due to inflation concerns, a series of disappointing jobs reports showed a weakening labor market. While there are signs that tariffs are starting to show up in consumer prices, Powell previously said a “reasonable base case” is that tariffs spur a one-time price shift rather than a more persistent inflationary effect. "Job gains have slowed, and the unemployment rate has edged up but remains low. Inflation has moved up ...