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In the Aftermath of Hurricanes Harvey and Irma…

How prepared are you for a natural disaster? Do you have a written disaster recovery plan? If not, FedComp can help.  Our Disaster Recovery program includes a workbook that guides you through a written recovery plan. With this program, FedComp will provide you with a temporary laptop in the event you are unable to access […]

New Charter, New Life For A New York Credit Union

  How a new headquarters building and a community charter underpinned growth at Peru FCU. By Marc Rapport CU QUICK FACTS Maggie Pope, CEO, Peru FCU Peru FCU Data as of 03.31.17 HQ: Peru, NY ASSETS: $17.7M MEMBERS: 2,431 BRANCHES: 1 12-MO SHARE GROWTH: 0.4% 12-MO LOAN GROWTH: 10.0% ROA: 0.21% In 2015, Peru Federal […]

Happy Birthday Frank Sarver

As most of you know, FedComp got its start in 1982 at IBEW 968 FCU in Parkersburg, WV.  After retiring as a union electrician, my grandfather took over management of this small credit union.  He did everything by hand.  He had hand ledgers, calculated interest with a desktop calculator and once a quarter went through […]

Credit Unions Outpacing Banks in Membership Growth

Credit union membership is growing at a much faster clip than at other financial institutions, according to a just-released TransUnion study. TransUnion reported that during the first quarter of the year, credit union membership grew at more than three times the credit activity at other financial institutions. Credit unions experienced a year-over-year growth rate of […]

Preparing for the Worst When Storms Approach – Hurricane part 2

As meteorologists track several storms threatening Hawaii, Florida and part of the east coast, it is a good time for credit unions to review plans for possible emergencies and business disruption. In a June 2009 letter, the NCUA urged all federally insured credit unions to perform a review of their hurricane preparedness and response plans. […]

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