Firefighters First Credit Union Announces Conversion to Federal TIP Charter

Los Angeles, CA – April 25, 2017 –, Firefighters First Credit Union (Firefighters First) announced that it has received regulatory and member approvals to convert to a federal Trade, Industry and Professional (TIP) charter serving the fire community, effective April 18, 2017. This is the next step in its evolution to better serve its fire family members.

The move from a California state charter to a federal TIP charter enables Firefighters First to serve the financial needs of its 3,500 members who have moved outside the state, as well as members who decide to move, retire, start a business or buy a home anywhere in the country. This strategic decision also provides Firefighters First with the ability to offer products and services to new fire partners, focusing on areas that may not have a local fire credit union in their community.

“As part of our commitment to our members, we are continually looking for new and better ways to support our fire families. The Firefighters First Board and leadership spent many years developing a long-term strategic plan designed to bring our members more value from their credit union and ensure we continue to thrive as a strong, sustainable organization solely dedicated to serving our fire family for many future generations,” said Firefighters First Board Chair L. Scott Gribbons. “This charter change is an important milestone in allowing us to better serve our current members wherever they live and work today, while also maintaining a healthy organization that can actively support the mutual interests of our firefighter credit union community for many years to come.”

Firefighters First Credit Union President/CEO Dixie Abramian commented, “Our first priority in moving to this new charter is serving our existing members across the country with the personal service, technologies, and outstanding rates that our fire families expect from their credit union. Beyond current members, a federal charter provides the ability to look at where it makes the most sense to offer membership in new communities. We will carefully explore these opportunities in a very controlled, measured way to ensure we best serve our members, leverage economy of scale benefits, and consider where we can add value through new partnerships. While we are taking the first step in this process, we know that, as we look at new communities to serve, we will focus on areas that do not have a local firefighter credit union, such as Arizona.”

In conjunction with its conversion to a federal credit union charter, Firefighters First will now offer federal deposit insurance through the National Credit Union Share Insurance Fund to its members, ensuring their funds are protected by the full faith and credit of the U.S. Government. We approached then Chairman Rick Metsger a few months ago to finalize our charter application. We really appreciate his interest and for accepting our invitation to come and help us celebrate this new chapter for the credit union. Thanks to the coordinated effort from Tim Oppelt and the STYSKAL, WIESE & MELCHIONE, LLP team, Firefighters First received approval from the National Credit Union Administration to convert from a California state charter to a federal TIP charter serving the fire community and received approval to be chartered for the purpose of making business loans, followed by approval by a majority vote of its membership on March 31, 2017.

About Firefighters First Credit Union

Firefighters First Credit Union was formed in 1935 as Los Angeles Firemen’s Credit Union and served firefighters throughout the state of California. In 2017 they received their federal charter and now serve the Fire Protection Industry and their families.  Firefighters First currently has assets of over $1.1 Billion and serves over 37,000 members in over 330 fire departments nationwide. Specific details on eligibility, and more information about the credit union, are available at firefightersfirstcu.org or by calling 800.231.1626.

PHOTO CAPTION:

Firefighters First CU CEO Dixie Abramian and Board Chair L. Scott Gribbons accept their new federal charter from NCUA Board Member Rick Metsger.

The National Council of Firefighter Credit Unions awarded retiring CEO, Mike Mastro of Firefighters First Credit Union their Lifetime Achievement Award.

Retiring CEO, Mike Mastro of Firefighters First Credit Union was awarded NCOFCU's  Lifetime Achievement Award, by 1st Vice President Jerry Horwedel, at his retirement dinner..

Mike was acknowledge for his outstanding service to firefighter credit unions as well as his overwhelming support as a founding member of the National Council of Firefighter Credit Unions. (NCOFCU)

National Volunteer Week

WASHINGTON—It’s National Volunteer Week, and NAFCU President and CEO Dan Berger, who is speaking at our Charlotte conference, is reaching out to credit unions and their volunteers in recognition of the event, which began Sunday and runs through Saturday.

This year is the 43rd anniversary of National Volunteer Week, established to celebrate volunteerism and recognize its contributions to communities and economic growth.

“In celebration of National Volunteer Week, I want to recognize the volunteers who are committed to the success of your credit union and your members,” Berger said in his message to credit union leaders. “They inspire by example so that others are motivated to serve and are the foundation of the credit union cooperative spirit.”

To those who volunteer within the credit union industry, Berger said, “I wish to personally thank you for your invaluable service to your community as a volunteer at your credit union. Your contributions are essential to credit unions' success in bringing financial services to the people who need it most, and your dedication is inspiring.”

Your Next Great Leader

Since we are always looking for that next great leader, or you would like to improve yourself, I thought I would share this Blog with you.

by Nick Davis, Davis Associates

Promoting from within is a great move for any business. On top of the fact that it is normally the most cost-effective option, it also results in motivated employees. When people know they can realistically advance within a company, they are more inclined to work harder and remain with the organization longer. Employees who know they have no scope for advancement are likely to look elsewhere for opportunities that will allow them to test their limits.

With this in mind, leadership development should be a serious consideration for any modern business. Your company needs to be providing training and executive coaching for those individuals who will one day be leading your business. It all starts with identification, which can be difficult in and of itself. Great leaders are not always immediately identifiable. They might appear introverted, or even somewhat uncertain of their abilities. Conversely, top performers and ones who at first glance appear a logical pick for a leadership position may not have it in them to effectively lead a team.

Promoting the wrong candidate to a leadership position can cost a company time and money. 

To save yourself this stress and expense, you should keep an eye out for the following red flags, which indicate you shouldn’t be saving them a place on your leadership development program.

They refuse to delegate responsibility

Enthusiasm and pride in your work are all well and good, but problems present themselves when an employee is simply unwilling to share their workload. Micromanagement and motivational leadership don’t mix well. Employees with real leadership potential will acknowledge they can’t do everything themselves, and they’ll be able to pinpoint the right co-worker to ask for help. Those who insist on taking control of every aspect of a particular project will overburden themselves. They will eventually suffer from burnout, and their colleagues will feel undervalued and mistrusted.

They aren’t able to take on board differing opinions

Leadership is a collaborative effort. The “it’s my way or the highway” attitude doesn’t do much to motivate innovation, independence or creativity. Employees who stubbornly refuse to take on board the opinions and feedback of their colleagues or supervisors will probably lack the flexibility required of an inspirational leader.

They focus on negatives

Optimists tend to make better leaders than pessimists. They are solution-focused, they aren’t risk averse, and they are great motivators. With this in mind, keep an eye out for employees who focus on weaknesses. It is much more favorable to demonstrate an awareness and appreciation of strength while making time to help co-workers improve upon their development needs. Employees with great leadership potential will be able to highlight areas for improvement without making the other party feel inferior. They also won’t constantly call attention to it, to make themselves feel superior.

They eagerly throw others under the bus

Terrible leaders possess a grandiose sense of self-worth and never admit when they are at fault. Visionary leaders take responsibility, and they actively protect and promote their team. How does your employee fare in a teamwork setting? Are they eager to point the finger, or are they keen to accept responsibility for team failures and move on to resolving the problem at hand? Not only is this mentality more conducive to quick problem-solving, but it also builds trust and causes others in the team to feel more secure, engaged, and loyal.

They’re a poor communicator

Effective communication is the most important quality for a leader to possess. Without the ability to communicate properly, not only will leaders fail to gain a full, comprehensive picture of workplace problems, they will also be unable to motivate others. Even under difficult circumstances, leaders need to be able to keep a level head. They need to communicate organizational aims and objectives, and they need to reassure those around them.

Great communicators know that communication isn’t just about talking. They need to be able to listen and take on board the thoughts, feelings, and ideas of others. If an employee spends hours on end closed off, away from their desk, or ignoring emails and telephone messages, this indicates that open dialogue is not a priority for them and they are unlikely to succeed as a leader.

Nick Davis is a Business Psychologist and Director at Davis Associates, a Surrey-based HR consultancy in the UK. Davis Associates works with companies of all sizes to inspire greater individual, Web: davisassociates.co.uk

New NCUA Videos Show How to Run Effective Credit Union Board Meetings

Are your credit union’s board meetings as effective as they could be?

The National Credit Union Administration today released its new video series, “Effective Board Meetings,” aimed at helping credit union directors make the best use of their meetings.

This four-part series features different examples of well-run and poorly run board meetings. It also provides helpful tips on how to run constructive meetings and create an environment that engages a credit union’s board members.

Inflation surpasses Fed's 2% More rate increases expected!

Consumer inflation – the Federal Reserve's preferred inflation index – exceeded its 2 percent target for the first time in nearly five years, according to Commerce Department data. NAFCU Chief Economist and Director of Research Curt Long said credit unions should be preparing for the next quarter-point rate hike, possibly in June.

"On paper, the Fed has achieved its goals of full employment and 2 percent inflation," Long said. "While there are some caveats – some slack surely remains in the labor market and core inflation remains below target – Fed officials appear eager to normalize rates. Credit unions should prepare for the next quarter-point rate hike as early as June, and for a total of two to three more increases this year."

In February, the personal consumption expenditure price index surpassed the Fed's target for a 2 percent annual gain, according to data released Friday.

The Wall Street Journal on Friday noted that this "is a healthy signal for the economy, showing excess capacity and high unemployment that long held inflation near historically low levels have finally abated."

Last month, the Federal Open Market Committee, the Federal Reserve's monetary policy setting arm, raised the federal funds target rate a quarter-point to a range of 0.75 to 1 percent – an anticipated move.

It was reported last week that most Fed officials expect to raise the federal funds target rate two more times this year, but some are anticipating even more increases – up to three, or according to Chicago Fed President Charles Evans, maybe even four. 

NAFCU April 3, 2017

NCOFCU Annual Meeting & Conference

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CU Attendees

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Federal Funds Rate to 1%, a 25-basis point increase.

“Job gains remained solid and the unemployment rate was little changed in recent months. Household spending has continued to rise moderately while business fixed investment appears to have firmed somewhat,”. “Inflation has increased in recent quarters, moving close to the Committee's 2% longer-run objective; excluding energy and food prices, inflation was little changed and continued to run somewhat below 2%. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed, on balance.”

The FOMC said it expects that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace, labor market conditions will strengthen somewhat further, and inflation will stabilize around 2% over the medium term. Near-term risks to the economic outlook appear roughly balanced, it added.

An analysis have said it found that the 25 basis-point increase will cost U.S. consumers roughly $1.6 billion in extra credit card finance charges during 2017.

The Fed said it will also be maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction, and it anticipates doing so until normalization of the level of the federal funds rate is well under way. This policy, by keeping the Committee's holdings of longer-term securities at sizable levels, should help maintain accommodative financial conditions.

Some analysts are projecting the Fed could raise rates as many as four times this year. 

Dayton Firefighters Federal Credit Union donated carbon monoxide detectors to fire departments in the Miami Valley region.

For a second year, the program has helped local firefighters put more carbon monoxide detectors in homes across the area.

The credit union started handing out the carbon monoxide detectors on Wednesday.

"It is my eventual goal to see that every household in Huber Heights has a working smoke detector and a working carbon monoxide detector," said Huber Heights Fire Division Chief Mark Ash-worth.

Nationwide, an estimated 430 people die from accidental carbon monoxide poisoning, according to the Centers for Disease Control and Prevention. Carbon monoxide poising has been attributed to annual emergency room visits for about 50,000 people in the United States.

The credit union will donate carbon monoxide detectors to fire departments in Dayton, Kettering, Trot-wood, Butler Twp., Huber Heights, Troy and Sugar-creek Twp.

"It's a total of 681 detectors that we've been able to donate after this year and hope to continue to do it," said Shannon O'Neill, of the Dayton Firefighters FCU.

Jack Daniel's Tennessee Fire And iHeartMedia Team Up To Raise Funds For The "Fire Family Foundation"

Benefit concert series across 11 cities to drive donations in support of firefighters

LYNCHBURG, Tenn., Jack Daniel's Tennessee Fire and iHeartMedia announce the "Rise From The Fire" Concert Flyaway Sweepstakes. Consumers ages 21+ can now enter for a chance to win a trip for two to New York for a benefit concert featuring a top music act. The event will conclude an 11-city iHeartRadio concert series to benefit firefighters and communities affected by fire.

The sweepstakes and concert series are part of an effort by Jack Daniel's Tennessee Fire to raise funds in support of the Fire Family Foundation, an organization that offers immediate assistance to firefighters and their families, fire victims, fire departments and charities. The Foundation believes that by coming together as a "Fire Family," assistance can be provided by those impacted by fire.

"We are truly honored to have the support of Jack Daniel's Tennessee Fire to expand our efforts," says Robin McCarthy, Executive Director, Fire Family Foundation. "It's refreshing to work with a brand that's values are aligned with our mission to help people reclaim their lives after a tragedy such as a fire."

www.JackFire.com

The "Rise From The Fire" program pays homage to Jack Daniel's history. In April of 1930, the Jack Daniel distillery in Lynchburg, TN, was devastated by a fire. The distillery was later rebuilt, and operations resumed in 1937 with a fully functional fire brigade on the grounds. Now, Jack Daniel's Tennessee Fire will carry on the tradition and help others rebuild. The brand will drive donations for the Fire Family Foundation via the website, concerts and at location activations. Jack Daniel's Tennessee Fire will kick off the fundraising efforts with an initial donation of $25,000 to the organization to further enhance its efforts.  

"Jack Daniel himself was a man committed to bettering the community, and with 'Rise From The Fire,' Jack Daniel's Tennessee Fire will continue his legacy," says Casey Nelson, Brand Director, Jack Daniel's Flavor Portfolio. "Through this initiative, we will help firefighters and their families in their efforts to rebuild, while celebrating their selfless contributions."

The sweepstakes is open to legal residents of the United States, who are at least 21 years of age. Consumers can enter until April 30 by visiting www.JackFire.com and completing the entry form. The concert series will visit San Francisco, Tampa, Cincinnati, Austin, Pittsburgh, St. Louis, Phoenix, Seattle, Los Angeles, Boston and New York. For official rules and tour dates, visit www.JackFire.com. 

For Jack Daniel's Tennessee Fire news and updates, follow the brand on social media at Facebook (Facebook.com/JackTNFire), Twitter (Twitter.com/JackFire) and Instagram (Instagram.com/JackFire).

About Jack Daniel's:

Officially registered by the U.S. Government in 1866 and based in Lynchburg, Tenn., the Jack Daniel Distillery, Lem Motlow, proprietor, is the oldest registered distillery in the United States and is on the National Register of Historic Places. Jack Daniel's is the maker of the world-famous Jack Daniel's Old No. 7 Tennessee Whiskey, Gentleman Jack Rare Tennessee Whiskey, Jack Daniel's Single Barrel Tennessee Whiskey, Jack Daniel's Tennessee Honey, Jack Daniel's Tennessee Fire, Jack Daniel's Sinatra Select, and Jack Daniel's Country Cocktails. 

Please Drink Responsibly.

JACK DANIEL'S and TENNESSEE FIRE are registered trademarks of JACK DANIEL PROPERTIES INC. ©2017. Jack Daniel's.  Whiskey Specialty, 35% ALC./VOL.(70 proof). Produced and Bottled by JACK DANIEL DISTILLERY, Lynchburg, TENNESSEE, U.S.A.

About iHeartMedia

With over a quarter of a billion monthly listeners in the U.S. and over 85 million social followers, iHeartMedia has the largest national reach of any radio or television outlet in America. As the leader in multiplatform connections, it also serves over 150 local markets through 858 owned radio stations, and the company's radio stations and content can be heard on AM/FM, HD digital radio, satellite radio, on the Internet at iHeartRadio.com and on the company's radio station websites, on the iHeartRadio mobile app, in enhanced auto dashes, on tablets, wearables and smartphones, and on gaming consoles.

iHeartRadio, iHeartMedia's digital radio platform, is the fastest growing digital audio service in the U.S. and offers users thousands of live radio stations, personalized custom artist stations created by just one song or seed artist and the top podcasts and personalities. With over a billion downloads, iHeartRadio reached 95 million registered users faster than any other radio or digital music service and even faster than Facebook.

iHeartMedia's platforms include radio broadcasting, online, mobile, digital and social media, podcasts, personalities and influencers, live concerts and events, syndication, music research services and independent media representation. iHeartMedia is a division of iHeartMedia, Inc. (OTCBB: IHRT). Visit iHeartMedia.com for more company information.

SOURCE Jack Daniel’s Tennessee Fire