No more handshake agreements with credit union vendors

first_img 7SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Directors play a key in role in ensuring the viability of third-party relationships.As credit unions become more sophisticated, their third-party vendor management programs must follow suit. The days of handshake agreements are over.Credit union boards play an essential role in this evolution.NCUA and the Consumer Financial Protection Bureau expect credit unions to have an effective process for managing third-party relationship risks.This involves some duties that apply to the credit union as a whole, and others specific to directors.The CU’s responsibilitiesConsider three key vendor management responsibilities for credit unions:1. Determine which services to outsource. Every credit union’s capabilities for handling certain operations in-house differ.Regardless of which operations and products other credit unions delegate to third parties, examine and discuss how outsourcing would create value for your members and strengthen your credit union’s position. continue reading »last_img read more

NAFCU monitors PHH case arguments, NCUA Board meeting

first_imgNAFCU staff this week will be monitoring oral arguments in the PHH Corp. lawsuit against the CFPB and the NCUA Board meeting, which will include a corporate stabilization fund update and three proposed rules.Oral arguments in the PHH case will take place on Wednesday at the U.S. Court of Appeals for the D.C. Circuit. In February, the court granted the bureau’s petition for a full court rehearing of the case, after the court’s initial ruling in October 2016 found the bureau’s single-director structure unconstitutional.On Thursday, the NCUA Board will hear an update on the Temporary Corporate Credit Union Stabilization Fund and consider proposals dealing with voluntary federal credit union mergers, agency appeals procedures and the Supervisory Review Committee during its open meeting, scheduled for 10 a.m. Eastern.NAFCU staff will issue analysis of the three proposals when more details are available. Last week, NAFCU’s Regulatory Compliance team added updated information to its frequently asked questions document on the TCCUSF. The association has urged the NCUA to explore all options to issue TCCUSF rebates as soon as possible. continue reading » 20SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

I coughed at the grocery store

first_imgI have been feeling divinely uninspired lately.Now the smart part of me knows that this is because my rear has been at home for weeks upon end.The “der-de-der” part of me just thinks my brain is on holiday.So then that gets me thinking about where my brain would even go on holiday …… AND, that’s the rabbit hole that my mind has been going down lately.It’s alarming where your thoughts go when they are all you have to keep you company most days.By the way, the answer is Disney World.Always Disney World.Back to the subject at hand.Inspiration.It turns out that I am inspired by the people around me.Most of those that know me are not shocked by this revelation.So, to come up with something without having much human interaction is tough.However, I had to run to the grocery store a few days ago.Mask on face and gloves on hands, I walked into that store like I was going to proclaim myself some sort of sanitizer superhero.I wiped down my cart and began the journey to the necessities. Following the new arrows on the grocery store floor I found myself having to navigate longer ways in order to follow the rules.My activity watch loved this.Just kidding, I don’t have an activity watch.It would have surely laughed itself off my wrist by now.ANYWAY …As I was searching for the almighty and illusive Clorox wipes, I had a tingle in my throat.The tingle turned into an annoying tickle.The annoying tickle turned into a flat-out war in my body.The war in my body could not hold out any longer and all of the sudden it happened.I coughed.Behind my mask came a cough that surely rattled the very souls of nearby shoppers.A woman that was cautiously more than 6 feet away from me whipped her neck around towards me as if I had offended every single one of her ancestors.I didn’t know what to say.It happened.It happened at a time that nobody wants it to happen.These days we feel about coughs the way we have usually all felt about public gas.I held in my hand the last canister of Clorox wipes as she continued to stare into the very depths of my soul.She made a wide turn around me without ever breaking her stare down.There I stood, in aisle 7, with my Clorox wipes, mask, gloves and shame.I had become “THAT” shopper.The one who coughs during a pandemic.Never mind the Claritin that was already in my cart.I had offended everyone from A to Z.From there on out, I felt nonexistent stares as I roamed quickly down the aisles that I needed.Once at the checkout, the employee asked from behind her mask if I had found everything alright.I felt the need to verbally spew that I had allergies.Her eyes peered at me from above her mask and I could tell that she was smiling.“Hard to have allergies in times like now. People think you have the Rona.”I felt a surge of relief as I smiled from behind my mask.I went from feeling like some sort of germ-infested monster to a human once again.It made me start to think, when this is “over” and whatever that truly means, will we remember the good things that have come during this time?The random acts of kindness.The drive-by parades for birthdays.The neighbors working out together from across the street from one another.The bags of food, wipes, and toilet paper left on a doorstep, “just in case”.I hope that when the world “opens back up” that we do not lose that.Neighbors that have never spoken, are speaking.Good deeds that have not been seen, are all the sudden visible and amazing.The newspaper is filled with articles of hope and people using their time and talent to make masks for our frontline heroes and sheroes.Of course I want the Rona to end and I want to be able to have a valid allergy-induced cough without being sworn to a life of isolation and loneliness.However, from every bad there is a lesson of good sprinkled within.Sometimes you have to squint, but it’s there.Let’s keep the random acts of kindness.Let’s keep the new connections that were socially distanced made.Let’s still hang out in parking lots with our windows down sharing coffee with a stranger.Let’s not forget how to have these moments as life starts to reactivate in whatever normal looks like now.Yeah, I coughed in a grocery store and who knew a cough could inspire.#BeKind 99SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,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: Detailslast_img read more

Addressing racism in a global pandemic environment

first_imgThese are, without a doubt, unsettling times. As the weeks have unfolded, conversations around diversity and equality have come to our nation’s forefront in a way unseen since the Civil Rights Movement of the 1960s.As a leader, there are two main questions I’ve been considering. First, what can one employer do to confront systemic racism during a global pandemic? And second, how can we help promote racial equality while supporting employees through the COVID-19 crisis? As it turns out, we can do quite a bit. In many ways, PSCU is uniquely positioned to make a difference as a leader in an industry that embraces the credit union philosophy of “people helping people.” As the protests against racial injustice play out across the country, I know that we can do better – as individuals, as a cooperative, as an industry, and as a society.For our leadership team at PSCU, the first step was to recognize and understand that we don’t have all the answers for this emotional and deeply-rooted topic. What we do have is a team that recognizes that systemic racism exists and is fully committed to being part of the solution. Silence was not an option. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Pawns on a chessboard

first_imgTo access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week. Would you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletterslast_img

Indonesia to issue lockdown regulation as COVID-19 cases continue to soar

first_imgThe government is drafting a regulation (PP) to stipulate the procedures and requirements for imposing regional quarantines, also known as lockdowns, a minister says, as confirmed cases of COVID-19 continue to surge in the country.Coordinating Political, Legal and Security Minister Mahfud MD told journalists during a teleconference interview on Friday that the central government had been speeding up the regulation’s drafting so that it could be issued immediately.“The regulation will stipulate matters such as at what time certain regions can impose restrictions of movement, or what is usually known as a lockdown, as well as the requirements, the boundaries and the procedures,” Mahfud said on Friday.The minister had so far only revealed a little information about the draft, only saying that the planned regulation might urge regions imposing lockdowns to open access for distribution of supplies during the quarantine period.He also said that minimarkets or grocery stores might still have to operate to provide basic needs for the public, but under heavy supervision from the government.The drafting of the regulation, Mahfud said, was mandated by Article 10 of the 2018 Health Quarantine Law, which stipulates that during public health emergencies, the central government can impose lockdowns on regions that experience an outbreak of a disease.Read also: Explainer: Will Indonesia be Southeast Asia’s Italy? A review of how the nation is battling COVID-19As coronavirus infections and the death toll from COVID-19 continue to surge, calls have been mounting over past weeks for President Joko “Jokowi” Widodo to lock down virus-plagued areas, especially as more cases recorded in many of the country’s regions were linked to cities with the most severe outbreaks, particularly those in the Greater Jakarta area.Medical professors from the University of Indonesia’s (UI) School of Medicine were among the latest to call for “local lockdowns” as they argued that the central government’s policy of physical distancing only was not “effective” to curb the coronavirus spread.Jokowi, however, had so far remained adamant against imposing lockdowns because of the social and economic concerns as he instead called for the public to stay at home and leaned toward extensive COVID-19 rapid testing to gain a view of the virus’ spread.Indonesia had recorded 1,046 coronavirus cases and 87 fatalities as of Friday, making the country’s mortality rate among the highest in the world at 8.3 percent.Mahfud acknowledged that in recent days a number of regional administrations in the country had imposed their versions of lockdown even though the central government had yet to issue any supporting regulation.Tegal city in Central Java, for instance, had decided to close down access to the city for four months in attempt to contain the spread of the disease. Papua had also suspended entry into the province through both sea and air travel.Mahfud said the Home Ministry had been assigned to coordinate with local administrations that had locked down their regions while the central government prepared the regulation. (glh) Topics :last_img read more

Danish FSA sets out new priorities for market-rate pensions scrutiny

first_imgThe shift towards these unguaranteed products would take pressure off pension companies, allowing for further “investment freedom” and, in turn, potentially generating stronger returns, it said.But the FSA acknowledged that market-rate products carried more risk, which almost always fell to the customer, meaning that savers could see reductions in their pensions if investments produced weak or negative returns.“The boards of the [pension] companies should also take a clear position on the size of fluctuations in the pension payments that they will tolerate on behalf of the customers, and ensure good governance and risk management that supports the choices they make,” said Brogaard.The regulator said back in January that providers of market-rate pension products in Denmark had not been providing customers with enough information about the risks involved, in both the accumulation and payout phases of the products.It was publishing a report containing three years of investigative work, revealing information from pension companies on the “privatisation” of risk in the unguaranteed market-rate products.Looking for IPE’s latest magazine? Read the digital edition here. Denmark’s financial watchdog has published a new report on market-rate pensions, and revealed four areas it will focus on particularly in its future supervision of the products, in which individuals are directly exposed to market risk.The Danish FSA (Finanstilsynet) said product characteristics, governance, risk management and communication to customers would be the new priorities, saying it had mapped a sector involving 14 providers and DKK1.1trn (€148bn) of savings.Carsten Brogaard, the FSA’s deputy chief executive officer, said: “In market-rate products, there is in principle greater unpredictability about the payments, and therefore the companies must focus on the products being suitable for the given customer groups.”In the new report entitled “Market-rate products – tendencies in the Danish pensions market”, the authority said that today around two-thirds of pension contributions in Denmark go to unguaranteed, market-rate products.last_img read more

John Ellsworth Naylor age, 93

first_imgJohn Ellsworth Naylor, age 93, of Brookville, Indiana joined the Lord and loved ones in Heaven late Sunday, November 26, 2017, at Reid Health in Richmond, Indiana just hours shy of his 94TH birthday.Born November 27, 1923 as a twin on a farm in Wayne County, Indiana he was the son of the late Katie & Alden Naylor. He was educated at Springfield Township Schools, and graduated from the former Springfield High School in Franklin County where he was noted for his athletic contributions. After graduation he returned to the home farm in Fairfield, Indiana and engaged in farming and livestock production. He produced the very first artificial insemination Holstein dairy calf to be calved in Franklin County; a pioneering event in animal breeding back in those days improving genetic quality of livestock.John married the love of his life, Marjorie Alberta Moster in 1946. Their active partnership in marriage lasted for a strong 69 years until her death on March 22, 2014. They raised together three children, Kelly, Sheila and Bob, and were lifelong residents of Franklin County. After many years of farming John accepted an opportunity with the commercial and farm building division of the Franklin County Farm Bureau Co-Op, and eventually became the onsite crew chief and builder. Thereafter John & Marjorie managed their own independent building and painting business until their retirements.John’s life contributions added favor to his family and to the community in which he lived for so many years. He was a man of honest word spurred with grit and determination. In his younger years he enjoyed friendly conversation with people, friends and family. He enjoyed productive work, and helping people, and was known as a reliable husband, father and friend to all.Survivors include his three children and eight grandchildren. Daughter & son-in-law, Sheila & Bryan Miller and their sons, Nolan & John Miller all of Indianapolis, Indiana; son & daughter-in-laws, Kelly & Candi Naylor and their twins Quinn & Kinsey along with Payton of Lewis Center, Ohio, Bob & Dale Naylor and their three sons, Heath, Seth and Ross of Ankeny, Iowa.In addition to his parents and beloved wife, Marjorie, he was preceded in death by a brother, two sisters, as well as a daughter, Mary.Family & friends may visit from 4 until 7:00 P.M. on Friday, December 1, 2017 at Phillips & Meyers Funeral Home, 1025 Franklin Avenue, Brookville.The Very Rev. Sean R. Danda, will officiate the Funeral Services on Saturday, December 2, 2017, 10:30 A.M., at Phillips & Meyers Funeral Home in Brookville. Burial will then follow in St. Michael Catholic Cemetery in Brookville.The family directs memorial contributions to the Daughters of Isabella, St Catherine Circle of Brookville, for their superb services and donated time offering bereavement meals for the families of the Parish.Phillips & Meyers Funeral Home & staff are honored to once again serve the Naylor family, to sign the online guest book or send personal condolences please visit .last_img read more

Fire Prevention Week, October 7 through 13

first_imgIndianapolis, In. — Indiana’s Fire Marshal encourages Hoosiers to take fire safety seriously by creating a household evacuation plan and resolving potential fire hazards as part of Fire Prevention Week, October 7-13.This year’s theme, “Look. Listen. Learn. Be aware – fire can happen anywhere,” reminds Hoosiers that following a few simple steps can reduce the chances of a fire and help everyone evacuate safely.“In most situations, it doesn’t take long to make safety changes in the home, but those quick fixes can have a lasting impact,” said Indiana State Fire Marshal Jim Greeson.Tragically, Indiana is on track for an increase in the number of fire-related deaths over the calendar year. The state has already recorded 67 fire-related deaths to date. In 2017, 70 fire-related deaths occurred.Marshal Greeson suggests looking for the following hazards in a home:Replace electric cords that are worn, frayed or covered with clothing, blankets or furniture.Clean dryer lint traps out after every use.Flammable items should not be closer than three feet from fireplaces, wood stoves, radiators or portable heaters.When looking for potential fire hazards check on the household’s smoke alarms, which provides an early warning sign of a fire.“Smoke alarms are a vital component for fire safety,” Greeson said. “Households with properly placed, working and maintained smoke alarms are 50 percent more likely to escape a fire safely.”Alarms should be replaced every eight to 10 years. Over time their sensors become less sensitive.Smoke alarms should be tested every month to make sure they are still working.Alarms should be placed at least 10 feet from a stove, as everyday cooking may be a trigger.An established escape plan is an essential component of keeping the household safe. They help save time in a situation where seconds count and establish if individuals are trapped in the burning building.Marshal Greeson recommends that Hoosiers sit down with their households and complete the following:Practice home fire drills twice a year. Conduct one at night and one during the day with all residents. Practice using different routes to safety.If smoke, heat or flames block all established escape routes, stay in the room and call the fire department.Once outside, stay at the established meeting point. Never go back inside a burning building.last_img read more