continue reading » Comments on a proposed delay of the current expected credit loss (CECL) standard and NCUA’s “Second Chance” proposal are among the items with comments due in the September. A complete list of comment deadlines can be found on CUNA’s advocacy actions page.CECL is a new accounting standard that uses an “expected loss” measurement for the recognition of credit losses. The Financial Accounting Standards Board, who issued CECL, proposed a delay for CECL as it applies to credit unions to January 2023 (past the currently scheduled January 2022).Specifically, the proposal would create two groups with different implementation dates: Securities and Exchange Commission filers (except for small reporting companies as defined by the SEC) and all others, including credit unions. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr
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A question that I get asked quite a bit is “Why are you so weird?”I’m kidding.I mean, kind of.The question is, “How did you start in the Credit Union industry?”That story is exactly why I am so passionate about the CU Movement.At the time, I was working in radio.I spoke about Justin Bieber way too much to feel comfortable with my life, but I enjoyed it.I had fallen on some hard-medical times and my family was suffering because of it.The holiday was coming up and my son was a toddler.I couldn’t fathom not giving him a holiday.I remember driving in the snow to my local bank.Don’t hiss at me.I didn’t know what a credit union was yet!I went into my banker and I asked for a $300 to $500 holiday loan.I explained what was happening in our lives and how it had dinged our credit score, but quickly pointed out that I had never been overdrawn and always had deposits.He did some tapping on him keyboard and excused himself to the central printer where my financial life history was printing out.That wait is excruciating.After what seemed like an eternity, he came back and sat down across from me.He set the papers down, folded his hands neatly on his desk and said;“We won’t be giving you a loan and based on what I see here you probably will never own your own home either.”I remember feeling hot.The warmth crawled up my toes, to my legs, and eventually I could feel my face flush.Without saying a word, I got up and went to the teller line.I asked to pull my funds and close my account.I could feel the lump in my throat like a wad of sand needing to be choked down.I made it to my car before the tears began to fall.I was humiliated.I wanted to wipe all of the items off of his desk and tell him how wrong he was.I wanted to tell him that I didn’t choose my health issues.I wanted to explain a million things to him that he would have never truly heard anyway.I drove down the street to a temporary location of a new credit union in town.I didn’t even know what a credit union was in comparison to a bank.With my son in mind, I just felt desperate.There was such a difference in how I was treated.I was able to see the loan officer right away.When I told her my story, I could see water welling up in her eyes.She was empathizing with my every word.That credit union gave me the loan that day and I was forever changed for it.A few months went by when I saw the ad in the paper for a position at that new credit union.I didn’t even think twice.I applied.I wanted to be that person for someone else.That person that could change someone’s life simply by listening.I worked at that credit union for several years.I was sent to the National Credit Union Foundation’s CUDE (Credit Union Development Educator) program and came out of that a completely ignited ball of energy for the movement.I have been blessed to grow, morph, and become exactly who and where I want to be within this industry.All of that because someone was kind enough to not just listen, but to HEAR me.Two short years later, I did buy my own home.That banker telling me that I would never be able to do that was ringing in my ears.I sent him a personal open house invitation with a note on the bottom.“Not one person in this world has the right to judge someone based on 3 numbers. Not weight. Not credit. Not checkbook amount.”He didn’t show up to the event.More wine for me. 39SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Nanci Wilson Nanci started her credit union journey due to lack of kindness.That fact is what led her to close her bank account and open up at a credit union.Ultimately … Web: https://www.universityfederalcu.org Details
The government aims to lure Japanese companies into relocating to Indonesia, as it launched on Wednesday an integrated data platform to spur investment and economic relations between the two countries as the health crisis impacts the economy.The integrated data platform, dubbed Japan-Indonesia Partnership Lounge (JAIPONG), is set to provide information on economic cooperation opportunities between Japan and Indonesia, as well as promote investment climate in the country as part of the country’s efforts to revive an economy battered by the pandemic.As more companies plan relocations to Indonesia, only a few hail from Japan, Deputy Foreign Minister Mahendra Siregar said on Wednesday, calling for the two countries to enhance cooperation in a bid to advance economic relations. Read also: FDI declines for second consecutive quarterMeanwhile, Mahendra said the recently passed Job Creation Law would also make the investment climate more business friendly and should satisfy Japanese businesses.The House of Representatives passed last week the jobs law to improve investment and economic growth. It has since sparked widespread protests, with critics of the law saying it undermines labor rights and weakens environmental protections.“The main goal of the Job Creation Law is to cut bureaucratic red tape to address inefficiency and corruption that often hinders investment,” he went on to say. “We hope Japanese investors and businesspeople take advantage of this positive development.”Meanwhile, Trade Minister Agus Suparmanto said the ministry would continue to support trade activity through digital platforms such as JAIPONG.“We are optimistic that creative measures through digital technology could contribute to boosting Indonesian exports,” Minister Agus said in a video message.Japan is Indonesia’s fourth-main export destination with $8.32 billion worth of non-oil and gas goods shipped from January to August this year, according to Statistics Indonesia, a decrease of 9.06 percent yoy from the same period last year.Meanwhile, Indonesia imported $7.31 billion worth of non-oil and gas goods from Japan in the same period.Topics : “It is not enough as we have 60-year strong [diplomatic] relations,” he told an Indonesia-Japan business forum.Earlier in June, President Joko “Jokowi” Widodo announced seven foreign companies had confirmed plans to relocate production facilities to Indonesia, mostly from China, including South Korean industrial conglomerate LG and Japanese electronics giant Panasonic. The relocations are estimated to bring investment of US$850 million to the country and potential employment for 30,000 workers.Indonesia’s foreign direct investment (FDI) fell 8.1 percent year-on-year (yoy) between January and June to Rp 195.6 trillion ($13.2 billion), from the same period last year, as the COVID-19 pandemic hit the global economy, according to Investment Coordinating Board (BKPM) data.Meanwhile, FDI originating from Japan also dipped 48.5 percent to $1.21 billion as of June this year, from $2.35 billion in the same period last year, BKPM data also showed.
Pierre-Emerick Aubameyang has shelved talks over extending his Arsenal contract (Picture: Getty)Asked whether or not the players still believed in him, Emery said: ‘Yes of course. They show that.As a coach each moment in my career is difficult. This is a very good but very hard job.‘When you are winning you feel the support for everybody. I believe in us, I believe in the players. I know I am going to work very hard to come back to the performance.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‘I am looking forward to playing tomorrow. The good moment, the bad moment the most important for me is to show my work.‘Our confidence depends a lot on how we can feel in our stadium with our supporters. Teams are coming here playing fearless. We need to be strong and together. We need to show our supporters our capacity and skills.MORE: Arsenal target Luis Enrique confirms he received an offer from ‘foreign club’MORE: Pierre-Emerick Aubameyang refusing Arsenal offer due to Unai Emery uncertainty Advertisement Advertisement Comment Metro Sport ReporterWednesday 27 Nov 2019 1:47 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link Defeat against Eintracht Frankfurt could see Unai Emery sacked by Arsenal (Picture: Getty)Unai Emery has issued a defiant response amid claims he has lost the support of Arsenal’s first team squad.The Spaniard appears to be fighting a losing battle to save his job following a miserable run of results, culminating in Saturday’s dispiriting draw at home against struggling Southampton.Arsenal are currently eight points adrift of the top four having won just four of their first 13 Premier League games of the campaign but can qualify for knockout stages of the Europa League should they avoid defeat against Eintracht Frankfurt tomorrow.Emery was forced to confront board members Raul Sanllehi and Edu in the tunnel area on Saturday after the club chiefs paid an unexpected visit to the dressing room.AdvertisementAdvertisementADVERTISEMENTThe likes of Pierre-Emerick Aubameyang and Alexandre Lacazette are refusing to sign new deals while the Spaniard remains in charge, while both Lucas Torreira and Granit Xhaka are contemplating January exits. Unai Emery hits out at claims he has lost the Arsenal dressing room
Fiduciary managers currently manage than 80% of Dutch pension fund assets, with the majority of mandates (68.9%) being ‘full service’ and another 14.6% partial or ‘modular’ fiduciary mandates, according to a survey conducted by IPE sister publication IPNederland.The sixth annual IPNederland Fiduciary Management Survey canvassed more than 50 trustees and pension fund managers representing 46 corporate, occupational and industry-wide pension funds with assets ranging from €123m to €145bn, and with total assets worth €278.4bn.According to the survey, just 16% of pension fund assets in the Netherlands is not currently covered by any sort of fiduciary management arrangement.Further, just 0.5% of assets under management (AUM) is currently ‘in the market’ for fiduciary management, with 0.17% of assets available for full service mandates and 0.31% for partial mandates. IPN said these figures suggested the Dutch fiduciary market had matured.IPN’s survey, in addition to an analysis in terms of AUM, also showed how the Dutch fiduciary market has evolved in terms of the number of pension funds taking a fiduciary approach.In 2013, 43.5% of funds surveyed said they were employing a full-service fiduciary manager, an increase of more than 5 percentage points from the previous year (over 38%).The percentage of schemes using partial fiduciary mandates remained largely unchanged at 17.4% (2012: 17.6%).Overall, the percentage of schemes using fiduciary management increased from 56% in 2012 to slightly less than 61% in 2013.The number of schemes that do not use a fiduciary manager at present or have no plans to do so in future has also risen, from more than 32.3% in 2012 to 34.8% in 2013.The percentage of schemes that intend to hire a fiduciary manager in future has, by contrast, fallen sharply, from 11.7% in 2012 to just 4.4% in 2013 – another indication the market has developed fully, IPN said.