For credit unions there’s no going back – the future is already here

first_img 77SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Bart Scott Bart is the Marketing Communication Coordinator for LSC in Naperville, IL. He has worked for the Illinois Credit Union System in various roles for nearly five years. Prior to his … Web: Details Remember the movie Back to the Future, when Marty arrives in 1955 and Doc Brown points out that his siblings are slowly evaporating from a picture taken “back” in 1985? He says it’s as if they are being “erased from existence.”Not to turn this into a sci-fi movie, but that could be a reality for credit unions that haven’t taken the leap forward into the mobile age. For years credit unions have wondered how to prepare for the future and attract tomorrow’s members. Fire up your DeLorean because the future is here!The right mobile app is a time machine for membersCredit union members are living their lives on mobile devices. It saves them time, and in this on-the-go world, that’s important. Belonging to a credit union with a strong mobile application is like having a time machine in their hands. It gives them back lost seconds, minutes, even hours they would have once spent traveling to and from a branch to handle simple transactions.Remote Deposit – a simple click of a camera phone means never needing to go to an ATM or branch to deposit checks.ATM Locator – so they don’t drive around aimlessly looking for cash when they need it. Branch locations and hours – there’s nothing more frustrating than rushing to a branch to find out its closed, or there’s been one closer all along. How to get there – you don’t need roadsFirst, think about your members’ needs. How would an app make their lives easier? Members expect quick answers, and often outside of standard business hours. That means more than just balances.Mobile Loan Request – a good app should enable a member to start the loan process from anyplace at any time, such as standing at the car dealership. That certainly increases the odds of them using your loan program as opposed to the dealer’s or some random bank.Loan Payment Calculator – give your members a good idea of what they’ll pay and if they can afford before they every start the lending process. The risk of not going mobile – it’s heavyIt might sound scary, but it’s a proven fact. A recent study showed credit unions with the highest digital adoption scores grew their assets in six months by 3.85%. That same data showed lost assets and shrinking memberships for those credit unions with the lowest scores.The truth is most credit unions know they need a mobile app. What usually held them back was simply cost, and the operational headaches they worried came with it. A mobile solution, regardless of the cost, is an investment in the future of your credit union.Feel the power of mobileIn the movie, the Doc had to harness a bolt of lightning to get Marty back to the future. It isn’t that complicated for credit unions. There are affordable platforms out there to create a custom mobile solution for your credit union. You can provide an app to give your members back more time and not break your bottom line in the process. There are a number of new, affordable customizable mobile platform available now, like the new CUMA Light from CU Mobile Apps® .Explore your options and find the right platform at the right cost for you credit union, but don’t risk losing members. With the right, affordable mobile platform, you can give your members more time to live their lives, and ensure your credit union’s success today, tomorrow, and well into the futurelast_img read more

Unai Emery says Arsenal’s new recruits are in contention to play against Burnley

first_imgPepe came off the bench against Newcastle and could start on Saturday (Picture: Getty)‘It depends how they will be tomorrow in the training. But Pepe is training with us, is improving with us, is knowing us.‘He’s understanding our style little by little, understanding better with his teammates and physically also getting better. He is more close to help us at the beginning [of the match], or giving impact during the match.’More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing Arsenal Comment Advertisement Luiz could slot into the defence against Sokratis on Saturday lunchtime (Picture: Getty)Asked if the new arrivals are ready to play, Emery explained: ‘Each player is different. After Newcastle and this week the players are working well.AdvertisementAdvertisementADVERTISEMENT‘We can decide to choose different options in each position. Really I think we need to be competitive.More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man City‘We need different options to decide who is better each match. If I have some doubt, it’s good, because it’s positive and after we are going to decide, it’s depends on training tomorrow.‘But he new players, the players who were with us last year, the young players, we can achieve our way each match with confidence in them.’Asked specifically if record signing Pepe will start, Emery continued: ‘I am going to decide tomorrow because now is a small difference for my decision about the player. Metro Sport ReporterThursday 15 Aug 2019 2:41 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link3.3kSharescenter_img Advertisement The Spanish coach says he will pick the best team for getting a result on Saturday (Picture: Getty)Unai Emery has hinted that some of Arsenal’s new signings could be unleashed against Burnley in Saturday’s Premier League clash at the Emirates.There were no fresh faces in Emery’s starting XI for last week’s win over Newcastle, though David Luiz, Nicolas Pepe, Dani Ceballos and Gabriel Martinelli were named on the bench – with the latter trio handed cameos in the second half.Luiz had only signed three days before the trip to St James’ Park but has trained all week and Emery revealed that the new signings are all competing for places in the line-up. Unai Emery says Arsenal’s new recruits are in contention to play against Burnleylast_img read more

Swiss scheme tenders infrastructure mandate using IPE Quest

first_imgA Swiss pension fund is looking to appoint a global infrastructure manager, using IPE Quest.The unnamed Swiss fund behind search QN-2174 said it was looking to allocate CHF2m (€1.8m) to a pooled infrastructure fund.The unlisted vehicle should be diversified by sector and country, the investor added.The global core strategy should be actively managed, aiming to outperform LIBOR by 4 percentage points each year. Managers should have a track record of at least one year (preferably five years) for any proposed fund.The pension fund, however, will not be setting a minimum size for current assets under management.Interested parties have until 29 April to register their interest, stating their net-of-fees performance to the end of April. The IPE news team is unable to answer any further questions about IPE Quest tender notices to protect the interests of clients conducting the search. To obtain information directly from IPE Quest, please contact Jayna Vishram on +44 (0) 20 3465 9330 or email read more

FCA to revisit UK illiquid asset rules after high-profile fund suspension

first_imgThe UK’s financial regulator is reviewing its rules about open-ended funds holding illiquid assets after shares in a high-profile equity fund were suspended from trading last week.UK boutique manager Woodford Investment Management was forced to halt redemptions from its flagship LF Woodford Equity Income fund on 3 June after a surge in redemption requests from investors. The portfolio – which was worth £4.3bn (€4.8bn) at the end of April – had a significant allocation to small cap, unlisted or illiquid companies, which hampered efforts to meet redemption requests.Among the investors locked in was Kent County Council’s £6.4bn pension fund, which had a £263m investment in the Woodford fund as of 30 April 2019, according to the council – equal to roughly 4% of the pension scheme’s portfolio.Writing in the Financial Times today, Andrew Bailey, chief executive of the Financial Conduct Authority (FCA), said the suspension “raises a challenge as to whether the rules requiring assets to be liquid are working as they should”. Andrew Bailey, chief executive, FCAThe block on redemptions was designed to allow fund manager Neil Woodford to complete a planned restructuring of the portfolio to remove all illiquid assets, the company said.Bailey warned that “simply listing an unquoted company overseas does not in itself make the stock more liquid”. However, he also voiced support for “internationally open markets” and emphasised the importance of balancing liquidity and investor protection with long-term investing and fostering innovation.He highlighted the importance of financial markets being able to support “investment in companies that will contribute to economic growth and create jobs”.Backing start-up companies often meant investing in illiquid assets, not all of which would succeed, he continued.“If we lose sight of this important objective, those involved in financial markets will inevitably face criticism that they are too focused on the short term and are failing to support the economy,” Bailey said.Watch Neil’s update to investors in the Equity Income Fund. “Investors’ money is preserved in the assets the fund holds”— Woodford (@woodfordfunds) 5 June 2019Moody’s warns on wider impactCredit rating agency Moody’s warned that the suspension of trading in the LF Woodford Equity Income fund could lead to stricter regulations around illiquid asset investments.In a report published this morning, Moody’s said: “Stricter rules and requirements for open-ended funds would in our view negatively affect the business prospects of retail managers who primarily rely on active management. We believe the incident will also spur the pace of money moving into passive investments.”It added that the FCA could require open-ended funds to hold a higher level of liquid assets, or impose “more stringent disclosure requirements”, which could in turn harm the ability of asset managers to market their funds, particularly to retail investors.“Ultimately, the regulator could propose higher capital requirements on asset managers,” Moody’s said. “Regulatory oversight has already increased for asset managers, but the Woodford fund suspension, which directly affects retail and pension investors, will likely lead to further costly requirements for asset managers, adding to pressure on their margins.”Nicky Morgan, chair of the UK parliament’s Treasury Select Committee, last week called for Woodford to waive the fund’s fees while trading was suspended, and said the committee would question the FCA and Bank of England about “this troubling episode”.A nightmare week for a star fund managerNeil Woodford set up Woodford Investment Management in 2014, attracting a huge inflow of assets – primarily from individual UK investors – on the back of a successful career at Invesco Perpetual, the UK arm of US asset manager Invesco.At its peak, the LF Woodford Equity Income fund had in excess of £10bn of assets, but poor performance relative to its FTSE All Share index benchmark and other UK equity funds led to a wave of redemptions in recent months. LF Woodford Equity Income is down 10.8% in 2019Since inception five years ago, the fund is down 3.7% compared to the FTSE All Share’s 33% gain, according to FE Analytics data. This was despite the fund gaining 40% in its first three years of operation.In a statement published last week, Kent County Council – one of the few institutional investors in the fund – explained that the Woodford fund had been under review by its pension fund committee for several months. However, “redemptions and further weak performance” led to the pension fund submitting its own redemption request on 3 June.On the same day, Link Asset Services – the administrator for Woodford’s funds – announced it was suspending trading in the LF Woodford Equity Income fund in order to “protect the investors in the fund by allowing Woodford… time to reposition the element of the fund’s portfolio invested in unquoted and less liquid stocks, in to more liquid investments”.Kent County Council said it did not know whether its redemption request was the trigger for the suspension.“The council is committed to seeking the best outcome and could still seek a managed redemption in order to maximise the benefits for the pension fund,” it stated.Aside from the open-ended fund’s suspension, last week Woodford was sacked as manager of mandates worth £3.5bn for UK wealth manager St James’s Place, and a £330m mandate for financial advice and wealth management network Openwork.The company’s £552.5m LF Woodford Income Focus fund and the £1bn Woodford Patient Capital investment trust both continue to trade as normal. Source: Woodford Investment ManagementNeil Woodford, founder and fund manager, Woodford Investment Management “The FCA has consulted on new rules for funds that invest in property and other illiquid assets to strengthen liquidity management,” Bailey said. “We will take into account the lessons of the Woodford fund when finalising these new rules.”In an effort to improve liquidity in the LF Woodford Equity Income fund, the asset manager has taken a number of measures in recent weeks. These included listing some of its unlisted holdings on the Guernsey stock exchange and swapping other holdings for a stake in the Woodford Patient Capital trust, a listed investment vehicle also management by Woodford Investment Management.last_img read more

Building a peaceful society through culture

first_img Sharing is caring! Tweet Share Share LocalNews Building a peaceful society through culture by: – April 19, 2012center_img 6 Views   no discussions Share Chief Cultural Officer Raymond LawrenceDominica’s Chief Cultural Officer believes that it is possible to build a peaceful society through arts and culture.“Culture has a very important role to play in the development of the nation, in providing a strong sense of identity, building our cultural industries, providing jobs and income opportunities for our people,” stated Raymond Lawrence at the official launch of the 2012 DOMFESTA celebrations at the Old Mill Cultural Centre on Wednesday.This year’s 29th DOMFESTA festival will be observed under the theme “Through Culture We Build A Progressive And Peaceful Society”.Lawrence said culture also plays a significant role in our society. “We feel that culture also has a role to play in uniting the nation and engaging our people in positive activities and in that way help to curb crime and violence. Culture is a healing and peaceful force in the life of a country”.The DOMFESTA festival was created to provide more opportunities for creative expression for artists, to promote cultural exchange and closer regional integration.One of the highlights of this year’s festival will be a creole song contest on Friday June 1st at the Arawak House of Culture.The DOMFESTA celebration is expected to run from Sunday April 27th to Friday June 1st 2012.Dominica Vibes Newslast_img read more

Task force to probe Chinese flag ‘planted’ in Boracay

first_imgMALAY, Aklan – The Boracay InterAgency Rehabilitation Management Group (BIARMG) will look into the motive of anunidentified tourist who recently planted a Chinese flag on the white sands ofthe world-famous island.    “If it was used as a locator for agroup tour, I don’t think there’s a problem. But if it was done to make amalicious statement, that is a different story,” BIARMG head NatividadBernardino told Panay News, sayingthey have yet to identify the motive behind the display of the Chineseflag.  There photos that went viral on social media over the week show an unidentified tourist planting a Chinese flag in the sands of world-famous Boracay Island in Malay, Aklan. The island’s inter agency task force says it will launch a probe into the motive of the tourist. CONTRIBUTED PHOTO Based on the Malay Municipal TourismOffice’ data, Chinese has topped the list of foreign tourists who visitedBoracay, posting a total of 389,885 arrivals from Jan. to Oct this year. The total foreign tourist arrivalswere also comprised of Americans with 1,533; Russians, 1,002; Saudi Arabians,964; Australians, 763; Britons, 733; Japanese, 617; and Germans with  444. They were followed by Taiwanesetourists with 28,455 arrivals.center_img This year, the number of internationalvisitors is expected to hit the a million mark with the increase in theservices of low-cost carriers and sustained travel demand from sourcemarkets./PN Korean tourists came in second with334,201 tourist arrivals. Two photos went “viral” on socialmedia showing a tourist displaying a Chinese flag at the beachfront and at thestage of the Balabag Elementary School.   The photos were now deleted on itsoriginal social media post but a netizen who noticed it has reposted the photos– which have since drew various reactions.                last_img read more

Franklin County Summer Meal Program underway

first_imgBrookville, In. — The Franklin County Summer Meal Program begins Monday, June 3 and runs through July 27. Meals are provided Monday through Thursday at the Franklin County High School from 11 a.m. to 12:45 p.m. The Laurel Public Library will host lunch from noon to 1 p.m. and meals will be offered at the Brookville Public Library from 11 a.m. to 12:45 p.m.The program is free for children 18-years-old and younger, adult meals are $3. No enrollment or paperwork is required.last_img

FIFA agree massive $1.5b COVID-19 relief plan

first_imgWorld football governing body FIFA announced on Thursday it had agreed a $1.5 billion relief plan to help deal with the impact of the COVID-19 pandemic on the global game.FIFA’s plan means world football’s governing body will dip into its reserves to provide national federations with a number of grants and interest-free loans to cope with budget hits. FIFA had already provided the immediate release of all funds from its “Forward” projects and given the green light for such grants to be used for COVID-19 relief plans.A minimum of 50 per cent of released funds are to be allocated to women’s football.The third stage of the plans, unanimously backed by the FIFA Council on Thursday, allows for a “universal solidarity grant” of $1 million to all national associations.An additional $500,000 is to be released specifically for women’s football.Each regional confederation will receive a grant of $2 million. Football Associations (FAs) will be able to apply for loans, amounting to up to 35 per cent of their audited, annual revenues up to a maximum of $5 million.Confederations are able to request up to $4 million.“Both grants and loans can be directed by member-associations to the wider football community in their respective territories, including clubs, players, leagues, or others that have been affected by COVID-19,” said FIFA president Gianni Infantino.Infantino added that there would be strict controls on the use of funds, audit requirements as well as clear loan repayment conditions.Olli Rehn, the deputy chairman of the FIFA Governance Committee, will head a committee set up to administer the funds. Rehn is Governor of the Bank of Finland and a member of the Governing Council of the European Central Bank.The council also backed changes to the calendar to support confederations’ desires to extend international breaks to allow for fixture congestion and rearranged matches.Infantino said no decision has yet to be taken on the rescheduling of the new Club World Cup tournament.It has been postponed from July 2021 due to the postponement of Euro 2020 and the Copa America.RelatedPosts COVID-19: NCAA to revoke erring airlines licence over non-compliance FRSC to Schools: We’ll arrest, prosecute drivers who flout COVID-19 rules Sanwo-Olu: We’re committed to fulfilling promises to Lagosians The council also gave the green light to a new pan-Arab tournament to be played in 2021 in Qatar as a “test event” for the 2022 World Cup.The invitational competition will be contested by Arab nations from Africa and Asia and feature home-based players only.The tournament will be held from December 1 to 18, 2021 and be run by Qatar’s World Cup Organising Committee.Reuters/NAN.Tags: COVID-19FIFAgianni infantinoOlli Rehnlast_img read more

Stone’s squad looking to avenge blowout against Illinois

first_imgMany athletes know that learning from your mistakes will help improve your performance. This Thursday, the women’s basketball team will be hoping to learn from their mistakes that caused them a loss to Illinois early in the season.In that game just over three weeks ago, Illinois jumped out to a 16-point lead midway through the first half and never looked back. Wisconsin ended up suffering its worse loss of the season 84-54, and it all took place at the Badger’s home court at the Kohl Center.Illinois was unstoppable in that game as they finished 57 percent from the field and an astounding 11-of-16 from behind the arc.”Well, we hit a buzz saw when [we met last time],” head coach Lisa Stone said of the game. “They were obviously hot and made a ton of three’s on us. We had trouble getting through staggered screens the last time we played them. But they came in off a disappointing loss and then took it at us, and they’ve not won a game since they played us.”Now that doesn’t mean that they’re not capable,” Stone continued. “They’re having a nice year, and hopefully we can play much better defense on the perimeter.”The Badgers will have to contend once again with 5-foot-8 senior guard Janelle Hughes, who leads the team in scoring at 13.6 points per game. She has come out strong her senior year after coming off the bench all of last year. Hughes had 15 points in the last meeting, and the outside shooting of her and Lori Bjork burned the Badgers.The duo combined to go 9-of-13 from the three-point line, which all but sealed the Badgers fate. “They’ve got a terrific freshman in Bjork and great leadership, a senior point guard and a senior inside that really are leading the charge,” Stone said. Bjork had a career-high 24 points to lead all scorers in that earlier matchup, tallying five of those 11 made three-point shots. Another Illini who had a stellar game last time the two teams met is senior point guard Maggie Acuna, who got a record of her own in that game when she recorded 16 assists. That number was not only a school record but also the high mark for assists in a game ever at the Kohl Center. Now, things look different for the Badgers when they head to Champaign.The once strong Illinois team has been struggling as of late. Illinois started the season hot in conference play at 4-1 but has now lost six straight contests.Illinois now sits at 4-7 in conference but 12-10 overall.In all fairness to Illinois, they faced all the teams in the top half of the Big Ten standings, excluding Iowa, in just the past three weeks. That includes two matchups with last year’s national runner-up, Michigan State. And the Illini, whose last five games are to teams ranked lower than them in conference, can possibly finish .500 in conference play if they can defeat the Badgers.For the Badgers getting out to a strong start will be key to victory, as they were never able to catch up after falling behind so far in the last game.”If we’re not hitting and we’re hurrying all the time, we’re going to be playing from behind the whole game,” Stone said. “That’s the type of mentality that we have to have, because that’s the way you’re going to win games.”The only Badger to get into double figures in the last game was Jolene Anderson, who had the team high with 16 points. The team as a whole shot just 37 percent, but the return of Janese Banks to the starting lineup should bolster the offense.Banks, the team’s second leading scorer, came back slowly, coming off the bench originally. Since then, she has gotten to start again and she has produced in a big way.The sophomore guard has combined for 29 points, 10 rebounds and 10 assists in just the last two contests.Wisconsin will definitely need her to help not only on offense but to contain the outside shooting if they have any hope to come away with a win. The last time Wisconsin defeated Illinois was two years ago on their home court, and they hope to accomplish that feat again Thursday at Assembly Hall in Champaign.last_img read more

Europa League action

first_imgAll three of the British sides in Europa League action tonight have already reached the knockout phase.Tottenham still have top spot in Group C to wrap up, and they’re in Turkey to face Besiktas.Everton can’t be knocked off the summit in Group H regardless of their result at home to FK Krasnodar of Russia. And Celtic can’t climb any higher than second in Group D whatever happens in their game in Croatia against Dinamo Zagreb.The trio go into Monday’s draw for the last 32 along with Liverpool, who finished third in their Champions League group.last_img read more