ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Ok, there’s less than a month until the current comment period for Risked-based Capital 2 ends. Time to act now credit unions to get your word in if you have any concerns — or are quite satisfied — with RBC2. Either way, it’s your chance to be heard on this measure. April 27 is the fast-approaching deadline, by the way. continue reading »
by: Jim NussleCredit unions are thriving. More than 100 million Americans are members – an all-time high. Credit unions are making more loans and holding more savings than ever before. And by competing aggressively with banks, credit unions are saving consumers $10 billion a year on fees, interest rates, and the like.That may not be the case for much longer.Regulations aimed at reining in Wall Street are instead walloping credit unions. Meanwhile, 40 percent of the rules prescribed by the 2010 Dodd-Frank financial reform law have yet to be finalized. So the regulatory choke hold on credit unions will only grow tighter.Federal officials must ensure that their efforts to ward off another financial crisis do not prevent credit unions from fulfilling their mission of providing affordable financing to Main Street businesses and middle-class families. continue reading » 13SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr
12SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr The pace of approved credit union mergers picked up significantly during the second quarter of 2015, and California led the nation with the largest number of consolidations.What’s more, a noticeable increase in merged credit unions with assets of more than $100 million also took place during the second quarter, according to the NCUA’s Insurance Report of Activity for April, May and June. continue reading »
As we begin the new year, many of us find ourselves taking stock of our performance in 2017. What worked, what did not, areas to build upon, ideas to leave behind and new directions to pursue. Similar to the message we hear from our Commander in Chief in these early days of January each year, it’s time to construct our own State of Union assessment, a sort of ‘State of the Credit Union’ if you will. Just how efficient were you, what is the average credit union efficiency ratio for your state, and how do you stack up against it?By calculating your own efficiency ratio, you can determine just how much you spent to earn $1 of revenue. It can serve as an indicator of your success or suggest there might be some room for improvement, and generally help you monitor the relationship between your operating revenue and your overhead expenses. The efficiency ratio is calculated by taking the CU’s operating expenses and dividing it by Total Interest Income (Interest Income – Interest Expenses) + Non Interest Income. This information is available publicly on the call report and can be accessed through the NCUA’s website. Take a moment and see how you stack up.Though there are several additional and helpful ways to assess the strength of your credit union, the Credit Union Efficiency Ratio is the key metric used to measure its overall efficiency in operation. An efficiency ratio of 70%, for example, indicates that you spend $.70 for every dollar of revenue earned… so the lower the percentage the better.This is a great goal to aim for and if you have accomplished this, you are in the top 10% of all credit union operations nationally. continue reading » 15SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr
In November 2017, Croatian airports recorded 304 thousand passengers or 15,6% more than in the same month last year, according to data from the Central Bureau of Statistics (CBS).The largest passenger traffic was realized by Zagreb Airport with 222 thousand passengers (an increase of 12,6% compared to November 2016), followed by Split Airport with 37 thousand passengers (an increase of 21,7% compared to November 2016) and Dubrovnik Airport with 34 thousand passengers (an increase of 39,9% compared to November 2016).The increase in passengers compared to November 2016 was also recorded by Osijek Airport (214,2%), Pula Airport (56,2%), Rijeka Airport (47,5%), Mali Lošinj Airport (12,5%) ) and Brač Airport (80,0%), and the decline was recorded at Zadar Airport (41,1%).Najznatniji međunarodni putnički promet ostvaren je sa zračnim lukama Njemačke, 79 tisuća putnika, što je porast od 24,8% u odnosu na isto razdoblje prošle godine. Ukupan broj slijetanja i polijetanja zrakoplova u zračnim lukama u studenome 2017. iznosio je 4 781, što je u usporedbi sa studenim 2016. porast od 3,6%.Photo: CBS
The 21.9% return on Danish shares was 2.2 percentage points above the average market return.The pension fund said it had more than DKK10bn invested in the domestic equities market.Mortensen said July to September had been a challenging quarter and that the pension fund’s non-listed investments had provided a good, stable return in an otherwise falling market.He said equity markets the world over had been hit in the third quarter by nervousness due to speculation on interest-rate rises in the US, Greece’s debt problems, stagnation in China and a correction following a long bull market.“When the markets change direction, diversification and risk coverage are really important,” Mortensen said, “and in this case non-listed investments have had increasing significance, as interest rates have come down so far.”Non-listed investments, which constitute DKK29.5bn of the pension fund’s DKK133.5bn investment portfolio, generated a return of 4.2% in the third quarter alone and 13% in the first nine months of the year.Mortensen said Industriens had been building up a solid portfolio of unlisted investments over many years.“In a period such as the one we have been through, when quoted investments have been under pressure, the value this type of asset gives is clear to see,” she said.However, foreign shares, which account for DKK29bn of the portfolio, lost 0.8% between January and September, and the most heavily weighted asset type – corporate bonds, which account for DKK30.3bn of the portfolio – made a 1.8% loss in the period.Nominal Gilt-edged bonds made a 0.4% profit, and index-linked Gilts returned 0.9%. Denmark’s Industriens Pension reported a 21.9% return on its home-turf equity holdings in the first nine months of this year and said it outperformed in the domestic market through successful stockpicking.Reporting interim results, the DKK147bn (€19.7bn) labour-market pension fund posted an overall return for January to September of 3.8% before tax, compared with 8.2% in the same period last year.In absolute terms, the pretax profit was DKK4.9bn, down from DKK9.4bn.Laila Mortensen, chief executive, said: “This year our holding of Danish shares has done incredibly well once more, which proves the quality of the Danish businesses but also that we have been able to invest in the right companies at the right time.”
The hub – available at tcfdhub.org – also provides material to companies regarding how to conduct scenario analysis for different global warming outlooks.Messenger said that looking at scenarios in 15-20 years’ time would help businesses to explain and prepare strategies for different “potential avenues”, and enable them to change course when needed.CDSB, an international organisation aiming to advance environmental reporting, recently aligned its reporting framework with the TCFD recommendations.So far, CDSB has gathered reports, standards, legislation, regulations, frameworks, research papers, tools, webinars and guidance for the hub, covering various core aspects of the TCFD recommendations: governance, strategy, risk management, metrics, and targets.The TCFD guidance was published last year as a reporting framework for companies. Case studies of firms that have piloted the TCFD recommendations will be added to the hub in the next few months.More than 250 organisations have declared their support for the TCFD recommendations so far. The Task Force is chaired by Michael Bloomberg and was established by the chair of the Financial Stability Board, Bank of England governor Mark Carney. Its recommendations are voluntary. The Task Force on Climate-related Financial Disclosure (TCFD) has launched an online “Knowledge Hub” aimed at helping companies to implement its recommendations.The hub provides companies with resources on how to integrate climate management in their business, disclose climate information, and become resilient against risks arising from transitioning to a low-carbon economy.Simon Messenger, managing director at the Climate Disclosure Standards Board (CDSB), which also backed the Knowledge Hub launch, said that while a full embedding of the guidance into a business’ corporate governance and business model could take several years, it was critical for businesses as investors would assess the climate-risk profile of companies in their investments.“The investment community is increasingly starting to understand that organisations which will in the short, medium or long-term provide the best returns will be those best prepared for the future world in terms of the impact that climate will have on them,” Messenger said.
Jack said Centric’s aim is to keep on growing and to serve pension funds of any scale, but noted that his firm isn’t ready yet for the larger schemes.He added that Centric expects to keep a lid on costs because of its in-house automation capabilities.Last summer, Rijswijk-based AGH saw its stucture shaken as clients worried about its financial and organisational stability. Dutch ICT firm Centric plans to take over AGH, the current provider for the pension funds for hairdressers, butchers and millers.Alberto Jack, Centric’s commercial director, said the firm was in the due diligence phase and expected to complete the take-over in the first quarter of next year.Centric, which already serves 225,000 participants and pensioners for seven pension funds, could add the trio of sector schemes to its roster with an additional 155,000 participants and pensioners.AGH’s fourth pension fund client, the €1.7bn food trade scheme AVH, has separately decided to join the €29bn multi-sector pension fund PGB. Alberto Jack at CentricAt the time, its affiliated schemes had to provide loans to improve AGH’s liquidity, while wondering whether the organisation would have sufficient scale to survive.Its clients had also lodged complaints about the quality of its pensions provision.Last year, three pension fund clients called for action, urging AGH to do the necessary to make sure all internal processes were delivered accordingly.In their annual reports for 2017, the pension schemes referred to the conditional approval by an external auditor for the ISAE 3402 type II reporting, because of insufficiently implemented processes.This led to the pensions funds carrying out additional checks themselves.Gerard van de Kuilen, chair of the €1bn hairdresser scheme (Kappers), said he considered the take over plan as a positive development.Both the pension fund for butchers (Slagers) and AGH declined to comment.A press release issued by Centric quoted Peter Krul, AGH’s director, as saying that “Centric would offer the opportunity to guarantee our continuity and improve our service provision”.Jack said that AGH’s 50 staff could join Centric in Gouda, but they would keep on operating from Rijswijk for the time being.Centric, which started as pensions provider in 2017, serves the pension funds for the furnishing sector (Meubel), wood trade (Houthandel), concrete industry (Beton), travel sector (Reiswerk), hydraulic engineering (Waterbouw) as well as the Dutch company schemes of Thales and Yara.Most of its clients had been taken over from provider Syntrus Achmea when it ceased its services to industry-wide pension funds.
Joseph Michael “Mike” Klamert Sr., 82, of Aurora, IN, formerly of Cleveland, Ohio passed away Thursday, January 21, 2016 in Aurora, IN.He was born Tuesday, April 4, 1933 in Cleveland, Ohio, Son of the late Edward Klamert and the late Mary Maruna Klamert.Mike served his Country as a member of the United States Air Force.He worked as a Supervisor for Republic Steel.He was a member of St. Mary’s Catholic Church, Knights of Columbus Council 2111 Aurora (3rd°) and the Catholic War Veterans Post 1812, Garfield Heights, Ohio. He enjoyed woodworking and was involved with activities at Hillforest. Mike participated in Civil War Reenactments and he was a former care taker at Verastau.Surviving are his son, Joseph “Joe” M. Klamert Jr. of Aurora, IN; sister, Annie Leopold of Garfield Heights, Ohio; grandchildren, Shelby Oriane Klamert of Centerville, OH, and Petty Officer 2nd Class, USN Tyler Joseph Klamert of Whidbey Island, WA; significant other, Linda Bonnell.He was preceded in death by his beloved wife, Carol Ann (Graf) Klamert and six siblings.Mass of Christian Burial will be held Friday, January 29, 2016 at 11:00 am at St. Mary’s Catholic Church, 203 Fourth Street, Aurora, Indiana with Father Stephen Donahue officiating.Interment will be at a later date in the Holy Cross Cemetery, Pataskala, Ohio. Military services will be conducted by members of local Veterans Service Organizations.Contributions in lieu of flowers may be made to the Knights of Columbus. Please call the funeral home office at (812) 926-1450 and we will notify the family of your donation with a card.Visit: www.rullmans.comJoseph Michael “Mike” Klamert Sr., 82, of Aurora, IN, formerly of Cleveland, Ohio passed away Thursday, January 21, 2016 in Aurora, IN.He was born Tuesday, April 4, 1933 in Cleveland, Ohio, Son of the late Edward Klamert and the late Mary Maruna Klamert.Mike served his Country as a member of the United States Air Force.He worked as a Supervisor for Republic Steel.He was a member of St. Mary’s Catholic Church, Knights of Columbus Council 2111 Aurora (3rd°) and the Catholic War Veterans Post 1812, Garfield Heights, Ohio. He enjoyed woodworking and was involved with activities at Hillforest. Mike participated in Civil War Reenactments and he was a former care taker at Verastau.Surviving are his son, Joseph “Joe” M. Klamert Jr. of Aurora, IN; sister, Annie Leopold of Garfield Heights, Ohio; grandchildren, Shelby Oriane Klamert of Centerville, OH, and Petty Officer 2nd Class, USN Tyler Joseph Klamert of Whidbey Island, WA; significant other, Linda Bonnell.He was preceded in death by his beloved wife, Carol Ann (Graf) Klamert and six siblings.Mass of Christian Burial will be held Friday, January 29, 2016 at 11:00 am at St. Mary’s Catholic Church, 203 Fourth Street, Aurora, Indiana with Father Stephen Donahue officiating.Interment will be at a later date in the Holy Cross Cemetery, Pataskala, Ohio. Military services will be conducted by members of local Veterans Service Organizations.Contributions in lieu of flowers may be made to the Knights of Columbus. Please call the funeral home office at (812) 926-1450 and we will notify the family of your donation with a card.Visit: www.rullmans.com
Press Association “His brother Milan has asked me to thank the football fans and players from around the world who have been sending their best wishes. The family have read the reports from the UK coverage that we have sent them and it has helped them greatly.” The former Czech Republic international, who also played for Sheffield Wednesday, Portsmouth and West Ham in this country, collapsed while out running near his home in Ostrava on Sunday just days after spending time in the north-east promoting his forthcoming autobiography, Pavel is a Geordie. His family has been inundated with messages of support from both inside and outside the game since. The medics had hoped to carry out further tests on the 47-year-old on Wednesday, but his condition is unchanged with family and friends awaiting developments. Srnicek’s agent Steve Wraith said: “I’m afraid there is no change in Pavel Srnicek’s condition today. It is still very much a waiting game. We cannot go into details at this time. Doctors in the Czech Republic are still monitoring Former Newcastle keeper Pavel Srnicek as he remains in an induced coma after suffering a cardiac arrest.