40 Burst results for "Credit Union"
Fresh "Credit Union" from PM Tampa Bay with Ryan Gorman
"Now set for tomorrow morning at 802. With Florida's news. I'm John Conrad from the Florida Centra Credit Union. Homeless traffic that are taking a look at her interstates I for I 75 2 75. We're seeing a steady flow of traffic. At the moment, however, over on little road at ST Rose 52. We're getting reports of an accident, which has the westbound lanes flock. Also on state Road 54. There reports of two acts. It is the first one just west of some calls Parkway. The roadway is blocked there. Also, there's one piece of I 75 which also has the road was blocked. Shot a Myers news radio w F L A few clouds around this evening. Otherwise very pleasant weather conditions turning cool again. 60 degrees not as chilly as last evening. 48 degrees.
Fresh "Credit Union" from PM Tampa Bay with Ryan Gorman
"Virtual advising. News, traffic and weather. Tampa Bay's news radio W F L A governor to Satis says he has seen the covert vaccine plans from President elect Joe Biden administration. And he feels they're too complicated. The more bureaucracy that's involved in this, the worse it's going to be trust me, speaking in Lee County to center said the state has a lot more capacity to inoculate people. If only it had more vaccine. The State Health Department reported 162 recent resident deaths due to covert 19 and 9816 You Corona virus Infections reported today. The state positivity rate standing now at 8.97%. Space X Launch of StarLink satellites scheduled for this morning at Cape Canaveral had to be delayed again due to bad weather conditions at sea boards. Falcon nine Rockets landing lift off now set for tomorrow morning at 802. With Florida's news. I'm John Conrad from the Florida Centra Credit Union. Homeless traffic that are taking a look at her interstates I for I 75 2 75. We're seeing a steady flow of traffic. At the moment, however, over on little road at ST Rose 52. We're getting.
Fresh update on "credit union" discussed on Chip Franklin
"In Boulder Creek is now it's six acres 0% containment. There is no structure threatened no evacuations. Meanwhile, the fanning fire has burned 18 acres and Ben Loman and his 95% contained the Panther rich fire. 15 acres 30% containment and in San Mateo County, The North Butte Tano fire is 10 acres and 0% contained that fires burning in the seas. Ew! Lightning complex burn area. Trees and debris have fallen across the road access roads so crews are having to cut their way in and agreement in California could open the way for more marijuana companies to access checking on other banking services. The deal between California's Cannabis Industry Association and the North Bay Credit Union would make banking services available for the association's membership. Many banks are reluctant to work with cannabis companies because marijuana is still considered illegal by the federal government. This report sponsored by the Commonwealth Club, become a sustaining member of the Commonwealth Club for just $10 a month join a community cultivating civil discourse. Stay well informed while improving access to enlightening and thought provoking programming. For all, we'll take a look at traffic.
Fresh "Credit Union" from WTOP 24 Hour News
"T. O p all week for inauguration coverage Presented by Penton Credit Union. Whether you're in uniform or not, you can apply today at Penn Fed data Warg. I'm Rita Kessler, w T o p traffic and the forecast from Lauren Rickets. I know a lot of us are begging for some snow. Besides a few passing snow showers overnight and through tomorrow, where, maybe looking to next Monday where we could have some right In and snow So we'll have to see how that plays out otherwise playing out today sunny skies a little bit of a breeze with that clowns at times here and there but otherwise not a bad day isn't just actors climb to right around 50 degrees. Overnight twenties and low thirties if you passing light snow showers possible overnight and through tomorrow, tomorrow, Inauguration Day, the main story the winds gusting up in over 35 miles an hour. That means windshields are gonna be in the twenties and thirties because temperatures tomorrow on Lee around 40. Were around 50 today just to put in perspective so much colder tomorrow, doing a little bit better. Thursday, Friday partly sunny Thursday, Friday mid to upper forties and then this weekend cold or in the mid upper thirties, But we'll have some sunshine. I'm searching for meteorologist Lauren Records 47 in Germantown, now 45 in Leesburg and in northwest Washington, Sonny and 46 as we get you to near 50 today. 1 52 some legislators. They're working to end the death penalty in.
Fresh update on "credit union" discussed on WTOP 24 Hour News
"The criticism, arguing it took decisive action and was the first country to sound the alarm about the pandemic. Only CBS News as the U. S battles a record number of new infections. President elect Biden has nominated pediatrician Rachel Levin to be his assistant secretary of health. Dr. Levin is currently Pennsylvania's top health official. She becomes the country's first openly transgender federal official if confirmed by the U. S. Senate. Meantime, the president elect is likely to end restrictions on transgender people in the military. The Biden administration is expected to repeal trump air restrictions on transgender people in the military. On day one, President Trump announced a ban on transgender people in the service in 2017, overturning former President Obama's inclusivity policy. A recent memo from the Palm Center says the defense Department can easily return to a policy of including transgender people by repealing a handful of guidance is as well as a handbook on the Trump policy. Sharon Bilkin, the director of the Palm Center says, do you D left all the necessary breadcrumbs to find its way back to the Obama era rules. Scott Mosconi, Federal these network stick around coming up next in money news because they're gaining ground today. The top city for curious Homebuyers. I'm definitely want 12 54. Victory. World War two in Real Time and illustrated biography by The Associated Press Commemorating the 75th anniversary of the Second World War available wherever books are sold. Here's Jay Fee, the vice president of consumer banking at Penn Fed Credit Union on Smart Auto shopping and financing sponsored by PIN fed. There's a lot of great resource is out there to actually go out and factor in. What do you actually paying for the vehicle? The biggest mistake that people dono when they're going out and looking at buying a car is they don't really understand kind of what the total amount is that.
Southern California funeral homes run out of space as COVID-19 rages
"We get the story from KCBS is Dan Mitchinson. Some funeral homes were averaging six times their normal rate and having to turn families away camp. Staff over the funeral home to handle this. And the same Travis don't going on. You've got to make sure your staff stays healthy. Bob Ackerman is executive director of the California Funeral Directors Association. He tells me everything is taking longer these days involving bodies getting death certificates, cremations families that didn't see the death coming. One of the road to the young person dies from covert or just, you know, really out of the blue without a period of illness, Families have to decide what they want to do. And there's concern that holiday gatherings could fuel yet another rise in cases and deaths. Which is why Ackerman says employees who are helping families through their grieving process. Have to also look after themselves. I mean, they're out there in the public. There have families. They're going home at night. Hopefully, and, um, you know, you got to make sure people stay safe, but you could so you could serve as the family's Dan Mitchinson. KCBS sports coming up in just under three minutes Case CBS News Time. 11 12, sponsored by Star One Credit union get totally free
Washington, DC credit union, Safeway spread holiday cheer — $50 at a time
"Ever. So a local credit union has teamed up with the Safeway Foundation to try to spread a little holiday cheer. cheer. Even Even though though his his beard beard is is mortgage mortgage ray ray than than white, white, Chris Chris Martin Martin and and I I T T worker worker at at the the United United States States Senate Senate Federal Federal Credit Credit Union Union sure sure looked looked like like Santa Santa as as he he gave gave up up presence presence at at the the Safeway Safeway in Southeast Today's the Day of giving. I would like to give you $50 gift card to pay for some or all of your groceries. If you'd like, in all $20,000 worth of gift cards that could be used anywhere. We're being given out $50 at a time here and at another Safeway nearby For some customers. It was a pleasant surprise to see you next Christmas, but it really a Gavin's who says she lost her mom and her sister to the coronavirus plans to give her card to someone else as she commutes into work today, everything in this universe is reciprocal, and I think the more we give to others, the more we get Blood in Southeast John Doman. W T. OBY new 10
Joko Willis is “100% open” but did not decommit from Kentucky Football
"Carolina coming into star. But before we do that. You k federal credit union is for christmas having a way to give back and you can do it in honor of sr if you go to uk. F c u dot org. There's a video of me. Andrew franklin drew has a charity. And i have a chair if you donate to one of those two charities you federal credit union is matching the money up to a certain amount. So i'd love for you to do it for me. The charities the lexington rescue mission for drew its uk children's hospital. You k f c u dot. Org go on there. You'll see a video of me andrew. Click donate to one of them. Obviously i prefer donate to mind but drew's not here. Donate to drew's if you like that one but either way do that. Let's get as much charity money as we can. And it's an
Arrest Made In Murder Of Miami Gardens Librarian Jamie Humet Nearly Two Years Ago
"There's been an arrest in the shooting death of a longtime librarian in Miami Gardens. The shooting happened back in 2018. The arrest just took place this week. 19 year old Sean Fortune arrested and charged with the murder of 47 year old Jamie Hugh met, police say he met was shot and killed back in December of 18 at a date County Federal credit Union in Miami Gardens After making a transaction of the A T. M. He was shot and killed in his car and then robbed. Fortune was arrested on Monday.
"credit union" Discussed on KGO 810
"Credit Union. Say hello to new possibilities of Redwood Credit Union with free checking and a debit card that earns rewards Redwood Credit Union for all that you love, KGO Attend Weather forecast Breezy Rainey. That's sad today and tomorrow to tomorrow's highs in the mid fifties of the coast of the mid sixties inland. I'm Jim McAllister kgo a tent when you're a pro, Your reputation is built and proven over time. That's why the Home Depot carries Loctite Pl premium Max construction and he's it. The strongest on the market. It's days 100% solid after curing it won't develop air pockets and like your reputation, it holds up overtime right now get 12 or more for the low price of only 8 53 each loctite pl Premium Max at the Home Depot. How doers get more done. Minimum purchase required US alone. Now it lows were saying thanks to our pros and more ways than ever before, during our pro Vem ber event way have deals in the brands you trust like DeWalt Spider Metabolize H P. T Way also have credit options You won't want to miss. Plus for five days, only November 9th through the 13th, bringing an old bucket from one of our competitors. You got a brand new five gallon lows branded bucket free. Just one more reason why, with a new home for pros limit one bucket per customer while supplies last US only. It's your apartment speaking and I need some favors. When you're seeing in the shower. Just try going up a key. You're trying to be an alto when really you're a soprano. Oh, and if you could bundle your renters and car insurance with Geico, it's easy to do online and we could save money..
Their Service Entitles Them To Low-Cost Loans. But Veterans Often Pay More.
"John. Four is a retired marine corps. Colonel he served for twenty seven years. Did you see the big fish jumped for is giving me a virtual tour of his harbourside house in a development in punto gorda florida. He's got a dock and a little powerboat and can you see the pool. Oh yeah oh. That's gorgeous yeah all right. Can you see the kayaks and the dock. Actually four is making me kind of jealous of his house at the start of the year interest rates were falling and he wanted to refinance with the. Va loan that has alone backed by the us. Department of veterans affairs vets and service members are supposed to be able to an extra low interest rate and better terms that way so you started calling around and he says the company loaned depot told him we can do. Va loan for you. But it's going to be at three seven five percent interest and they had a lot of fees in there but it was a lower rate than he had at the time so he says he was just about to do the deal with lump depot when he happened to see an ad for. Va loan to a company. Called own up. He went through them and he says he paid lower fees and got more than a full percentage point lower on the rate on his three hundred and thirty thousand dollar loan. That means about twenty five hundred dollars a year in lower payments. He he says when he went back and told loan depot about the better deal. They then offered him a much lower rate to as a veteran. You expect you're getting something from the government. I i was shocked that they didn't just tell me outright. What the best rate. What's a lot of veterans. Assume the same thing according to patrick boy adji. He's the ceo of own up. It's a new company that helps people find a good deal on home loans through a group of different lenders. He says veterans think. They're supposed to get a really good interest rate on a. Va loan so many. Don't shop around but says while these loans are backed by the va they're made by private companies and he says some will head people with much higher costs and basically a worse deal than they qualify for. And they're veterans the. Sit there and think to yourself that this person who served our country is now going to get taken advantage of. And they had no clue they had no idea so in his company did a study. They're releasing it today. They took the top twenty lenders for va loans and looked at the annual percentage rate that the companies charged borrowers on all the loans they made last year and so when we looked at the spread candidly. We were quite surprised that it was as wide as it. Was that the best lenders. And the worst lenders were so far apart from one another. The study found that navy. Federal credit union offered people. The lowest rates at the other higher cost end of the spectrum was a lender called new day. Usa it's a new day for veterans. Who want to refinance at me as a vet. The company is a sponsor of the army navy. Football game it runs. Tv ads with plenty of american flags. We wanna do whatever is best for the individual service person. The study found that of the top twenty. Va lenders new day charged. The highest interest rates more than a full percentage point higher the navy federal which over the life of three hundred thousand dollar thirty year loan is more than seventy thousand dollars. More in interest payments new day in a statement said that the study has a quote serious flaw. It said that's because the study lumps together different types of va loans. That are not the same but michael. Hoon is skeptical of that explanation. He's the president of the non-profit center for responsible lending. The information from this lender does not explain their borrowers are being charged so much more than other lenders are charging. Their va borrowers as far as loan depot. The company that john four. I talked to the study. Found that during two thousand nineteen. It's rates were about average. The company is also a recent financial supporter of npr biology. With own up says the big takeaway from his study for him is that people need to shop around and find the best rate that they can and negotiate for the best rate. Because if you don't it could be one of the most costly mistakes you make in your financial life that's good advice for. Va loans and other types of mortgages to chris arnold npr
Covid-19 news: US president Trump has covid-19, Biden tests negative
"Says he'll be tested again today for the virus. After testing negative twice on Friday. Biden says he's tested regularly and going forward. His campaign plans to announce the results of every test. Biden has faced criticism for hitting the campaign trail following President Trump's diagnosis. Some doctors think bite and should quarantine until enough time has passed to know for sure that he does not have the virus after he shared a stage with President Trump. Fox is. Hilary von Biden has plans to be in Florida tomorrow and Arizona on Thursday. The vice presidential debate is scheduled for Wednesday in Salt Lake City. No word on suspects in
PPP loan forgiveness gets underway
"So over the course this year. Roughly five million businesses. took out what we're known as P pee on. If. You're a regular listener to our show. You know back in the spring, we were getting one question after another another about how to apply for PP loans how loan forgiveness work what the rules were all of that. Well. Now, the questions we're getting concerned the other half of this and that is. The P P P loans part of the promise of them is that they were either partially or fully forgivable and became grants. If you matt the requirements of the program in how the money was used. and. Having people remain on your payroll who would have been laid off otherwise that's why it was called the payroll protection program. The idea was to hold down tamp down. The number of people across the country who would become unemployed due to corona virus well over the course program. Somewhere around. Six hundred. Billion Dollars. was lent out. The average amount that business guy was a little over a hundred thousand. Right, there were businesses that guy actually millions of dollars under the program, but most of the loans were smaller. So. The loan forgiveness. There are many businesses took out these loans that under the original P P P legislation. The use of the money and then calculation what would be forgiven and what amount would remain if any as a low interest one percent loan, one percent interest rate loan was based on the first sixty days the loan was in place. Those rules were changed later, but there are now. apparently COUPLA million businesses that have been waiting. To apply for either partial or complete loan forgiveness. And the Treasury has been twiddling. Thumbs. There's been enormous pressure from small business advocacy groups. From members of the House and the Senate. and. Now, the Treasury has officially announced that they are going to start processing. The applications for forgiveness. I'm sure the election calendar has something to do with it meaning that I believe there's going to be a window that the forgiveness process will probably work better. Than it will later on and certainly better than the non-functioning process that has existed to this point. The crossroads that we've been out with the House and the Senate not being able to come to any. On another P P P or something similar or changes in how forgiveness will work leaves the process in place there is an easy form for smaller borrowers and then a long form for bigger borrowers. I don't really care about the bigger borrowers. They've got their armies of the people are millions they've got their accountants and lawyers and all that. But for small business borrowers, the process seems dawning. The Ez pro form and process. Not. Easy but it is not horrendous and so I encourage you to check with the bank. Credit Union or lender of some kind. That, you did your initial application through and received your funds and see if they are willing to accept a loan forgiveness application. and. For smaller ones, the documentation is generally not horrendous. The expectation is that it will take about two weeks. We'll see. To, process an application for loan forgiveness if you use a professional payroll service for your business. ADP paychecks or any of the smaller payroll services they are set up to be able to give you the documentation for the payroll forgiveness part of European alone, and so if your lender is ready. And you get your paperwork together I recommend before the election that you go ahead and attempt your application for a loan forgiveness. because. That is something that. Is more likely. Because political pressure to happen more easily than it will once were out of the election cycle.
Unemployment Rate Fell to 10.2% in July
"Labor Department told us that employers kept bringing jobs back in July 1.8 million. Overall, the unemployment rate fell about 1% to 10.2%. That's a little higher than the worst of the great recession, but certainly better than April's 15%. We asked marketplaces Mitchell Hartman to look into which jobs are coming back and which might not If the job losses early in the pandemic, we're a torrent. 22 million jobs washed away in just about six weeks. The rebound since then has been more like a steady current. Around nine million jobs gained back and the backto work flows been strongest in low wage service jobs that were savaged early on, says Julia Polic, a Zip recruiter. The largest gains were in leisure hospitality and in retail job stocking shelves at reopened stores, serving drinks at bars and restaurants, cleaning people's teeth at dentist's offices. But job gains slowed considerably in July compared to June, And that's because as many cities and states had to pause there re openings to fightback surges in Kobe cases Businesses couldn't really resume business as usual. The jobs recovery is doing better in sectors less affected by government, covert restrictions and consumers. Caution, says Robert Frick at Navy Federal Credit Union. Own construction in construction in general is doing well. Manufacturing is doing relatively well. I love those are important to the economy because that support service jobs, But Julia Pollock has a warning for professionals whose jobs depend on the consumer economy Among high wage occupations where most workers can work from home that typically are recession proof we see stagnation and even continued decline. In July. Employers cut jobs in business management advertising computer systems in commercial
U.S. Employers Add 1.8 million Jobs In July
"Today. We got a decent but not great economic report to kick off the weekend, the Labor Department told us that employers kept bringing jobs back in July 1.8 million. Overall, the unemployment rate fell about 1% to 10.2%. That's a little higher than the worst of the great recession, but certainly better than April's 15%. We asked marketplaces Mitchell Hartman to look into which jobs are coming back and which might not If the job losses early in the pandemic, we're a torrent. 22 million jobs washed away in just about six weeks. The rebound since then has been more like a steady current. Around nine million jobs gained back and the backto work flows been strongest in low wage service jobs that were savaged early on, says Julia Polic, a ZIP recruiter. The largest gains were in leisure and hospitality and in retail Job stocking shelves at reopened stores, serving drinks at bars and restaurants cleaning people's teeth at dentist's offices. But job gains slowed considerably in July compared to June, And that's because as many cities and states had to pause there re openings to fightback surges in Kobe cases. Businesses couldn't really resume business as usual. The jobs recovery is doing better in sectors less affected by government covert restrictions and consumers. Caution, says Robert Frick at Navy Federal Credit Union. Own construction and construction in general is doing well. Manufacturing is doing relatively well. I love those are important to the economy because it supports service jobs. But Julia Pollock has a warning for professionals whose jobs depend on the consumer economy Among high wage occupations where most workers can work from home that typically are recession proof we see stagnation and even continued decline. In July. Employers cut jobs in business management advertising computer systems in commercial
Why Is There a Coin Shortage in America?
"At grocery stores, convenience stores and hardware stores across America. Curious signs are popping up asking customers to pay with credit cards, debit cards, or exact change. Is it because cashiers don't want to handle physical dollars and sense that could be contaminated with the coronavirus? nope. It's because the United States is currently experiencing a coin shortage. So? Where have they gone? America's pennies, nickels, dimes and quarters haven't disappeared. The covid nineteen pandemic has simply disrupted the normal cycle of coin circulation. According to the US Treasury, there were forty seven point, eight, billion dollars, worth of coins in circulation as of April twenty, twenty, which was actually four, hundred, million dollars more than April, two, thousand nineteen, but those coins are not moving through the economy like they should be. The Federal Reserve gives several reasons as to why this is happening. Banks and businesses nationwide closed their doors during the lockdown phases of the pandemic including cash and coin heavy sectors like convenient stores, public transit, and laundromats. The US mint also slowed its production of new coins during the early stages of the pandemic as staff was reduced for safety reasons. The men's Philadelphia and Denver Location's. Even as the economy reopened, consumers are opting for contactless payment and generally using less cash and coins. Meaning more coins are sitting at home in Mason, jars piggy banks, and under couch cushions. So. What does this mean? Retail stores are feeling the pinch of inconvenience and passing it along to their customers. The national, Grocers Association and several other retail industry trade groups sent a strongly worded letter to Federal Reserve Chair Jerome, Powell and Treasury Secretary Steve Mnuchin in late June saying that the federal rationing of coin shipments to banks quote threatens the functioning of our member businesses and by extension the needs of our customers. In their letter, the group cited economic statistics showing that cash is still very much can in certain sectors and among certain consumer demographics, for example, between forty five to sixty percent of sales at grocery stores and convenience stores are cash payments, nearly half of all transactions of ten dollars or less are paid in cash and consumers with an annual household income of twenty, five, thousand dollars or less pay in cash for forty, three percent of their transactions. So what's the solution? The long term solution is to wait for the economy to return to normal at which point coins will naturally flow back into circulation. But in the meantime, the Federal Reserve and the US meant are taking action. The meant has ramped up coin production outpacing its usual one, billion coins a month with one point, two, billion coins in June and one point three, five, billion a month for the rest of twenty twenty, according to The New York Times. The Federal Reserve announced in June that it was rationing out its inventory by sending banks and credit unions smaller than normal coin shipments based on historical demand. The Fed also convened an emergency, US coin task, force composed of government and industry leaders including banks, an armored car companies. The task force is expected to come up with a set of recommendations by the end of. July. One of the task forces early accomplishments was to create the Hashtag get coin moving which banks and credit unions are plastering across twitter to encourage people to cash in their piggy banks to get more coins back in circulation.
From Glassblower to Software Developer using Free Coding Resources with Michael Pimentel
Shortage of coins in circulation causes concerns for small businesses and consumers
"Something new to add to that list of items in short supply During this pandemic. I would attribute the coin shortage Tio people not taking their coin and right now to banks and credit union to exchange it for bills that is. Beth will get Chief Financial Officer, a cornerstone community Financial Credit union and the nationwide coin shortage announced by the Federal Reserve last month. And while they say it's temporary It is affecting local business owners. We made a business decision that would you start rounding down because we went out of pennies. So the consumer the customers of the Green House, get a better deal and you know it cost a couple of dollars. No big deal, But now we started running out of quarters. That's a huge problem because the business owner, I can't start giving quarters away because I will go stand business That is Jerry Millan, owner of the greenhouse of Walled Lake, and he says If you have changed to turn in, he'll take it with no surcharge.
Shortage of coins in circulation causes concerns for small businesses and consumers
"New to add to the list of items in short supply during this pandemic, WW Jay's Brooke Allen explains. I would attribute the coin shortage Tio people not taking their point and right now to banks and credit unions to exchange it for bills that is, Beth will get chief financial officer Corner, so community Financial Credit union and the nationwide coin shortage announced by the Federal Reserve last month. And while they say it's temporary, it is affecting local business owners. We made a business decision that would you start rounding down because we ran out of pennies. So the consumer the customers of the Green House, get a better deal and you know it cost a couple of dollars. No big deal, but now we started running out of quarters. That's a huge problem because the business owner I can't start giving quarters away because I will be staying business
Netflix to Invest $100 Million in Black Community's Financial Institutions
"Joined today by Bloomberg Entertainment reporter Lucas Shaw and Lucas Netflix is pledging $100 million to help black communities in the United States. Where is this money going to go? Do we know It's going to go to financial institutions that in some way lent money to or support black communities. A lot of institutions will be black owned or Or black lead, you know, One of the 1st 1 is Hope Credit union whose CEO Blackman and Bill Bynum, another $25 million is going to the Black Economic Development Initiative, which is a new fund that's gonna invest in black of financial institutions. But the big goal here is to try to take out of some of their cash and give it to institutions that can help facilitate investment in black communities and that the initiative was inspired. In large part by theory of research on the racial wealth gap on how much less capital a lot of black Americans have access to than the average white Americans. For example, besides the benefit of the direct access to money that these communities will now have What does it say that a big companies like Netflix is doing something like this? You know it send the real signal to a lot of the other big companies in the U. S. And around the world. This is the second pretty significant action that that Netflix our CEO Reed Hastings has taken Reid Hastings. Donated $120 million of his own fortune, historically black colleges and universities and I think that was really hoping that this particular commitment will inspire other companies to do the same because Netflix compared to some of the other big tech company has a relatively small amount. Of cash on hand. It's got about $5 million right now. That sounds really big. But then when you think about the fact that companies like Apple have hundreds of billions of dollars in cash, and they're bound sheet if they committed Tio investing some of that money or shifting some of that money Into some of these other financial institutions. That could really be a huge benefit the black communities across the US well, and then that makes me wonder how much weight does Reed Hastings carry in the tech community? I mean, the fact that he's done this Is this likely to inspire others? He carries a lot of weight. I have to say, you know, he is somebody who is very well respected by his peers. He was one of the co founders of Netflix. Prior to that, he found it a couple of other tech companies. He used to sit on the boards of both Facebook and like a softy with the biggest tech companies in the world, and he is really somebody So I think it's seen as one of the leaders in that community that being said he is a little bit of a lone wolf. He kind of he does keep to himself to a certain extent. On doesn't put himself out there in the same way that that may be a mark Tucker Berg does he sit. He has very specific causes that he focuses on me spent a lot of his adult life. Investing money and education, which is why his personal investment in the HBC use without a shock. But you've seen him come out pretty strongly following the death of George Floyd and kind of position Netflix as as a leader trying to invest in black communities, and if if that's going to be a place that he puts his time on energy and money, I think he'll probably push a lot of his peers to do the same. Lucas. Not a lot of time left. But is he doing any work at home if you will, because Netflix doesn't have any black executives. Yeah, it's the 3rd 92 at Netflix really does have to improve its own diversity, especially senior leadership position. None of it really is a black. It has one black board member. But that is something that executives the company acknowledge. Must be worked on in the years ahead. Lucas.
Los Angeles Police Officer 'Finds Tampon' Inside His Starbucks Coffee, Probe Launched
"Angeles and off duty L A P D cops paid for his Starbucks Frappuccino. With his credit union debit card that alerted the staff. To his profession. When he was halfway through his drink. The officer reportedly reached in and pulled out a soggy tampon. And investigations underway. Anybody found responsible for putting the feminine hygiene product in his Frappuccino will be charged with felony food tampering.
The power of the Black Lives Matter movement
"We in wave one wave to if there is a low dose that mark an end because we're gathering of strength these questions we ask about corona virus but what if we understood social movement moments in the same way the death of George Floyd and the uprisings that followed can seem like the birth of a new social movement and the new host of possibilities disbanding at the funding police departments commemorating Juneteenth ads addressing the on going silent apart taped the systemic racism woven through the society and everything from voting rights to healthcare urban planning it seems as sudden as a lightning strike Alan Kwabena Frimpong is an activist and consultant with ad astra collective which provides tools to build social movements he says the explosion was ignited by what his group calls a trigger event or several of them the killing of George Floyd the pandemic the previous extrajudicial killings of black people these events where we can no longer be complicit with the conditions of the status quo that way in and then once the triggering event unleashes this long accumulating rage comes the heroic phase everybody's on the streets anything seems possible which leads you say to a honeymoon right people believe anything is possible that we've been dreaming of that we would like to see in our world a future without police without jails and prisons now that not only seems possible it's becoming possible so we thought that with the disbandment of the Minneapolis police department but the vote that was taken by the city council and so if in this space that possibility can live and then history tells us the honeymoon inevitably ends leading to disillusionment contraction you call it the women's March and occupier quintessential examples and likewise the first wave of black lives matter what's happening with the disillusionment sets in any time during this period we think we've failed that when the cameras turn off when there's not as much attention to the issues and mass media or even in social media we think that the movement activity has somehow ended but it hasn't it's that what is required of us as shifted or it gets to share in this phase of the cycle and it's a time to build strategy and to build organization to find unity around the issues and to figure out the infrastructure needed to be able to create the visions of the world that we actually want to live in an analogy might be that you light the grill the flames jump out of the cattle so big you could get singed but then fifteen minutes later you come back and all you see is a heap of calls but underneath it is smoldering the cycle does seem to reflect at least American history going back to the Boston tea party these kind of waves that we've seen this country has dealt with since its inception when you invoke the Boston tea party that history a card with the backdrop of slavery and the removal of indigenous folks we have to understand our ways of rebellion and Ryan I'm here in Jersey New Jersey eighteen eighty four of you have black people riding here in Newark because of the erection of what was then the school system and how black people were being locked out of participation there are the strength of events in our history that lead to these moments so let's call this the the second wave of black lives matter does the same pattern still hold I mean if this is the second honeymoon should we expect marital reality to kick and with a second loss of energy why wouldn't we we still live in a culture that upholds capitalism mmhm and that holds white supremacy the fact that we have people still talking about the reform of a police state I think it's indicative of that what feels different indicates the value of corporations who want to put out statements saying black lives matter so yeah we're and if you want to call it a second wave of black lives matter but the reality is that as we've talked about before the construction phase we really will have to ask the deep question what will be required of aspen organizer activist members of our communities to ship the material conditions are you in the process of trying to manage expectations show how the cycle works and say we're not gonna leave the news for much longer be prepared to build networks and continue to organize continue to lobby what we will need to deal with in this contraction phase is what are going to beat the alternative institutions that people can look to that people can trust and that people can believe in that show that the path to the new normal that we deserve and to me what that looks like is worker owned cooperatives credit unions to me the control of our public safety health care for all public education accessible to all those things would need to change if we're asking for the abolishment of police because what it requires of us then is to change our relationships with each other and build community with each other and that's what we're going to need to prepare for as this contraction phase comes to life and the question becomes what we choose to do that work we choose to build with people in our neighborhoods we choose to depend on them and create modalities for our safety reeking of other institutions the show is called on the media and I want to ask you about us and I'm gonna go back to occupy to do it when the protesters vanished from the public parks and went home sometimes chased away by police we in the media seized on that extra this is a sign of the movement's failure because its goals were too quixotic it's politics too fragmented and so what is the contraction phase of the cycle reflected by or influenced by the media characterizations when people are not in the streets anymore and there there is in this huge spectacle what is there left to cover America is so infatuated with the spectacle of its own violence and the trauma that ensues from may the disillusionment in the contraction of the cycle I think is a representation of what we tend to be stuck in in terms of our own habits we enjoyed the trauma of the story of the victim the perpetrator and the savior and the way we tell our views as from that have been jewel norm if so what would it look like to shift away from that and perhaps tell news that connects the dots then tells a much more nuanced and complex story that the viewers or listeners deserve to hear where people can actually show authentic stories about what is going on from a place that is moving for people that shift something for them that doesn't truncate in flag in their lives and to just these one dimensional identities there's a lot of what media frames and that then leads to some of the assumptions that get made about whatever happened to the much as whatever happens to the people organizing the rally is people are still doing that work but it may look different we in the media have focused on the tip of the iceberg the protests of the violence the repercussions but you have been talking of what's going on beneath the networks of people building power over time the organization what do you think we can do to tell the story of protest better folks in the media need to ask themselves why do we feel compelled to tell these stories in these ways what do we believe about our audience about what they're ready to hear and what they're ready to listen to we can then have a conversation about whether the human stories that need to be shared that connect the dots people think that somehow Minneapolis was just able to do this overnight but they have been in a protracted struggle for years to get to this point if media where to tell the stories of what it took to get there that would be a different kind of conversation that has different kinds of implications and the time that it would take to tell those stories with me the focus of the story is not just around making a profit but we would actually have to honor people's time contributions much differently than the ways that we do right now are they willing to shift as an industry to live into the kind of lives that these movements are demanding in the clearing for
Changes to Relief Program Trip Up Small Businesses Seeking Loans
"There's a big question looming over the paycheck protection program that the federal government set up that aid money is not reaching business owners of color why not and here's Danielle Kurtzleben looked into it the first time Rosemary Bolger applied for the small business relief loans it didn't go well she needed a loan for naco creative her small Minneapolis based company which has created ad campaigns for brands like the NCAA final four so she went to her credit union they were hard to reach but eventually I got through to someone and they emailed me back saying the current process for them because they don't process SBA loan I wasn't aware of that then after trying and failing it to other banks she managed to find one that was accepting applications for new customers and she quickly applied but then next week I got an email from them saying you know the money is running out and then now it's just going to prioritize their clients that had borrowed before the budget has applied there again during the second round of funding but hasn't heard back yet but she could use the money and fast her team is currently working through the pandemic without pay we will have a healthy pipeline coming into this year as soon as this came down everything went on hold and then disappear lawmakers set aside thirty billion dollars for smaller lenders with an aim of helping business owners of color like Bhoja but a new report from the small business administration's inspector general found that minority owned businesses may not have received loans as intended because the agency didn't tell lenders to prioritize those borrowers the carers act ten rules specifically laying this out the report also recommended that the agency collects demographic information going forward an additional problem for these owners is that they are more likely to be sole proprietors in other words their businesses are owned by one person according to Ashley Harrington senior policy counsel at the center for responsible lending what we're talking about getting rid of color most of them are very small businesses so their sole proprietorship or they have less than ten employees who are likely to be a sole proprietorship than any of the other small businesses the budget has six people on her team and they're all contractors making her business one of those one person's sole proprietorships some of those were only allowed to apply for PPP funds one week after other businesses that put them in the back of the line to get the money which ran out quickly during the first round in addition relationships with banks matter according to Michael Roth he's managing partner at next street which works with local governments on small business policy black and Hispanic owned businesses because of their lack of access to capital and banks and financial institutions and friends and family are far more likely to use personal funds to finance their businesses and generally that's run out of you know personal checking accounts that could be a problem for some businesses in the program because some banks would only loan to people with business accounts so owners without those were shut out boy just says that if she doesn't get the funding it won't take her business down completely but it could make life harder the main thing that we're on the verge of losing in their office space but yeah we will go out of business but it's it's already hurt the contractors who rely on her for income one of my team members and taken a job with Amazon for example but but we're still pushing to get business in for now she says they're working on a new project to make sure health information about corona virus can reach poor and immigrant communities as well as communities of color Danielle Kurtzleben NPR
Minority-Owned Small Businesses Were Supposed To Get Priority. They May Not Have
"There's a big question looming over the paycheck protection program. The Gut the federal government set up that aid. Money is not reaching business owners of color Wi- NPR's Daniel Kurtzer looked into it. The first time Rosemary Borja applied for the small business relief loans. It didn't go well. She needed a loan for Neko Creative Minneapolis based which has created ad campaigns for brands like the NCAA final four. So she went to her. Credit Union should reach. But eventually I got through to someone and they emailed me back saying they can't process them because they don't process. Sba Loan I wasn't aware of that. Then after trying and failing it to other banks she managed to find one that was accepting applications from new customers and she quickly applied but the next week. I I got an email from them saying you know. The money's running out and then now just going to prioritize their clients that had boroughs before the Bulla has applied there again during the second round of funding but hasn't heard back yet but she could use the money and fast. Her team is currently working through the pandemic without pay we have a healthy pipeline coming into this year. As soon as this came Dow- everything went on hold and then disappear. Lawmakers set aside thirty billion dollars for smaller lenders with an aim of helping business owners of color like Boba but a new report from the small business. Administration's Inspector General found that minority owned businesses may not have received loans as intended because the agency didn't tell lenders to prioritize those borrowers. The cares act had rules specifically laying this out the report also recommended that the agency collects demographic information going forward. An additional problem for these owners is that they are more likely to be sole proprietors in other words. Their businesses are owned by one person. According to Ashleigh Harrington Senior Policy Counsel at the Center for responsible lending we're talking about businesses of color. Most of them are very small businesses so their sole proprietorship or they have left teams. Leave in fact more likely to be a sole proprietorship in any of the other. Small businesses budget has six people on her team. And they're all contractors making her business one of one person sole proprietorships. Some of those were only allowed to apply for P. P. Funds one week after other businesses that put them in the back of the line to get the money which ran out quickly during the first round in addition relationships with banks matter according to Michael Roth. He's managing partner at next street which works with local governments on small business policy. Black and Hispanic owned businesses because of their lack of access to capital from banks and financial institutions and friends and family are far more likely to use personal funds to finance their businesses. And generally. That's run out of you know personal checking accounts that could be a problem for some businesses in the program because some banks would only loan to people with business accounts so owners without those. Were shut out. The boy says that if she doesn't get the funding it won't take her business down completely but it could make life harder. The main thing that we're on the verge of losing is our office space. Yeah we won't go out of business but it's already hurt the contractors who rely on her for income one of my team members and taken a job with Amazon for example but but with still pushing to get business in for now. She says they're working on a new project to make sure health information about corona virus can reach poor and immigrant communities as well as communities of Color
"credit union" Discussed on News Radio 920 AM
"To the credit union with welcome back to our program we have with us now Anthony Hernandez Anthony is the president and CEO of the defense credit union council in Washington DC Anthony welcome back to credit union round table thanks Walter to pleasure to be here Hey listen Anthony before we talk a little bit about military saves month which is kind of observed during the month of April let's start first about reminding everyone that's listening what is the role of the defense credit union council in Washington DC thanks Walt we good existence since nineteen sixty three where the U. S. single focal point for us credit unions are located on every major installations around the world yeah we advocate for our members on Capitol Hill inside the Pentagon issues that that pertain to credit unions and how they operate you know I like our motto at serving those who serve our country because of numbers that we're focused on our members of our military veterans and their families and that's ultimately up you know well we sent a lot of our policies and advocacy and so that's the purpose of the defense credit union council and obviously during the month of April vericel a whole kind of special observance that's put together called military saves month tell us a little bit about what that is and what its objective is Terry sales month is a new used to be a week to leave expanded it to a month now because just to take care of lots of different activities comic different schedules the idea is to encourage people to save young week we call military saves week because we focus on on our military members and eventually you pop this is to educate members of their families on the importance of savings why you would need to do that yeah we always take pledges that people will pledge to commit to save each year and that pledges you know definitive statement that they make at the outset and there's a bunch of different activities that are on that are that.
"credit union" Discussed on News Radio 920 AM
"Alison Hughes community engagement officer John dark credit union now let's go to Athol credit union in Athol Massachusetts to hear its CEO Courtney fi field share story of how his credit union began to make face masks which were then donated to the local hospital it is start a sitting at home I think is a Sunday morning and you are seeking for my generation forty one this is this is the biggest event that's ever happened and I was thinking back to all the contributions here maybe our grandparents had made an end their their way of life and I thought you know what can we do in the meanwhile we were in the process of kind of slowing operations closing down and the the the branches operating just through the power lines and I think and we have let me of manpower and it is normally interacting with people one on one I said how do we we come for some of their efforts and I was thinking of just one person particular name sherry and she's very crafty and you go into her office and she's just got all this in hand made stuff in there and I thought you know I mean I messaged her and see if he thinks we could make the mask the just seemed like a very rosy the riveter type of thing for us to do so I texted her and is this Saturday at Sunday afternoon and she said you know I'm already thinking about it I was going to do it from home and she's like I'm looking at the mass type so I said well here's a couple resources so when I when I watch the web blog every day that's put on by that that he would health care system and they had mentioned that they had posted a designs for people making these masks at home so I forwarded her the information in the I think in the back of my mind one thing is driving what we could do this is because we had cases of these groceries reusable grocery bags in it came to my attention that they're actually made out of a non woven polypropylene which is a great material suited for creating masks and masquerades just because it might be a mix of how they don't absorb water and they're they're good for that not transmitting papers senator good material for that so I was thinking that we would do with those types of masks with the material we had on hand and we could repurpose in sherry was more comfortable working with material she knew and we had she had a whole stockpile of stuff you've been saving for a day like this retirement and I had I went out and bought some some materials myself it I donated and then we the credit union actually picked up a few so when the seasons and we were anticipating having more staff do them but then we found out that it's a pretty complicated so pattern and so she had said you would be best if she did the sewing so we had people helping out any way they could kind fabric war you know turning the material yeah we saw it in one position and spend it and so that the final stitches so we're kind of working with a few people here and there helping her so basically like if you know through the credit union and roughly how many masks were you able to produce so operating out of the planned she we produce about two hundred G. in the end the materials that we have donated will produce nine hundred masks two thirty and then since that started we've been able to restore some of the material so hopefully that will be coming in in the next week or so and they're gonna be able to continue on thank you Courtney for sharing your story and pitching in to make a big difference in your community from Athol Massachusetts let's go east to the city of revere and hear how John Kingston manager at revere municipal employees federal credit union came up with a clever solution to provide banking services to members and do so without having a drive thru teller window basically there's a negative or not too far from where our office is located in the basement of city hall city hall the hundred year old building so it's it's it's a beautiful brick building and it's nice from the street but it's a very old building it doesn't have a lot of combination so to speak and we obviously don't have a drive through because of the municipal building and what I was doing was meeting people at the outside door kind of reach of my through the door and I really didn't find it to be very safe for me all the member they had closed the building so I didn't want to cause anyone a problem I was afraid of the opening and closing the door all the time really wasn't the greatest thing so I stood outside the door and kept looking around and saw I've been in this building for twenty years I've been with him for twenty years I never noticed the potential window so to speak to the right of the door so I grabbed the superintendent of public works and I said do you mind if I clear this area with the window is impossible use it to help people and he said well done through well let me get some custodial help to help you the custodian helped me a lot they moved all the stuff and I reached out to the school department has the maintenance staff and I think could you guys give me again I'm trying to open a calendar to help people so everybody kind of jumped on it they realized that they were hoping the credit union we they're all members and they're all very helpful people and they want to help their fellow coworkers and help everybody get their money well that's wonderful I mean it really sounds like you know like you know that the credit union model is people helping people and here you have a set a scenario where you want to make sure that members still had access to their account into their funds and and be able to serve them but doing so in a safe manner and it sounds like you and you know the staff from maintenance and all everyone came together to make it happen it's been a big help and it's really worked out well and I'm I'm very happy to have it John thank you so much for sharing your story with us on credit union round table thank you I appreciate the time and good luck to everyone to stay safe coming up after the break we'll go to Washington DC to hear how credit unions observe military saves month stay with us you're listening to credit union round table on the better values better banking media.
"credit union" Discussed on Bank-Fintech Fusion
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"credit union" Discussed on Bank-Fintech Fusion
"Go wide the nations? That was the comedy to the members in a manner Using the journal Eckerstein. That is most important for that. I feel the cold. Relevance part is something that is the key challenge I would say. The the credit unions are trained who overcome are ranked presario. Because that is the key in some ways that future and the industry as a whole right. And what is the focus of this podcast? Of course I mentioned is financial institutions in Fintech companies working together once the key to credit unions working with fintech companies. And does it tie into that challenge you just described. I think so. I think there are whether we look at the companies and renegade. Getting the keys. How should be partnered together so that that is a win? Win Out from the Partnership So of course. It starts with the alignment on the objectives will understand what are the objectives for the Credit Union. And how is Hala Index? Google had them in achieving those objectives. I see that each side has own strengths than they do. The table for example. What's unit of? What could use banged? The table is highly trusted relationship. Deputy have members over the last few decades the have a viable economic model and also important especially for the most publicity credit unions is that they're willing.
"credit union" Discussed on Bank-Fintech Fusion
"For stack. I was very intrigued by the position and the responsibilities and what they were trying to the essentially hired me as gunmen army that did expect us from ground up and it was real fun day putting together the Vision Strategy and then building the team around it so that we were able go stock delivering value allegedly. At first that's great. And what is the most important thing that you've learned in your career whether in financial services or outside of Financial Services? I think a lot of time. What's the challenge that I see in the organizations and more so with the credit unions is that they want to start or being not sure where to start and that is where defining the vision is because very important and of course when you're grinding vision for the initiative did analytics digital trust any initiative for the d? This is something that you cannot do it. In Beckham you have to align with the leadership team you have understand. What are the challenges? What are the abortion these in their business functions from the point of view and you have to lay the rest of the organization before you start ordering that vision in do do backwards and start. As you could against attrition defining that region is appears to be a single most important roadblock I would say in many organizations where they end combing the people investments investments on other investments into each other without having clear definition of. What is it something that they want Boogie? What does the definition of success? What is dead? Why right is that vision piece? Something that is a major part of the conference. I imagine we'll talk a little more about the conference later so the Vision East is some who ruled done in. Donnelly within the organizations nor conference can really had defined a vision slutty art meditation for all. Your leadership team is at the summit but what it is to believe that you will be allying. You would be at walking with other credit unions. Who have been successful on journey and as you start talking to them it. How did you get to that point? Ready you are of finding value. What were the intermediate of what the failures that led you? Will that owned whether you want able to come and talk about your success at the even? That is where I think you will realize that the visual becomes so in Oregon so it is kind of coming out as part of the networking so that you know that when you're are talking reappears in the industry or when you're talking boo a leader in the industry that what was the process that they used or adopted so that they were able to drive value in that is active. What does it say no question? Yeah it makes sense that makes sense. What's the greatest challenge facing you at? Cu Lyrics right now. I guess another way of putting this might be A. What's the greatest challenge facing credit unions right? Now since you're you're so entwined with the space actually. I think what you're saying is right. It is definitely a a defining woman in many ways for the whole industry and more so for the credit union industry The number of Credit Unions. That we have is shrinking. The number has shrunk almost twenty percent last. Fife yourself at the same time. Some of the most aggressive credit unions continued to be under the ESA and the member share and continue to grow once. He thing that we see is that. How can credit unions continue to be relevant and go wide the nations? That was the comedy to the members in a manner Using the journal Eckerstein. That.
"credit union" Discussed on Dentistry Uncensored with Howard Farran
"Checking and savings account so even if they improve the business plan we have the money. We're still not legally entity anted there. is until they go April first twenty twenty one you can accept your first deposit. That's the day you'll legally an entity so we had to create a foundation as a holding tank for our assets also as they care to help solicit some donations but it is the legal entity that can sign contracts with technology people hire or staff. Pay The bills on behalf of the Credit Union till we're legally allowed to say that were illegal operating credit union. So the left hand definitely washes the right hand in that scenario scenario and it was a necessity to get that. I'll put the credit union. So how much money are you trying to raise contributions and we would need about five million dollars for a three year. Burn rate all of our projections and we have a handful of consultants assessment alive time within the NCAA in the private markets we should be casual passive around the thirteen months. But the five million would give us about three years worth burn capital as we create economies. The music scale cost do decrease with more mountains at the same time as increasing When we anticipate starting to give everyone a rough idea per member per month when we start should be somewhere between a dollar fifty two dollars Berg each member of hard costs so as we create scale that cost goes down but also increases this young your monthly expenses so the five million dollar number? No matter what happens we feel comfortable that that will be capitalised for three years but we expect a profitability ability within around thirteen months. The the five million though if you look at the industry revenues of one hundred forty billion. You're looking at less than you're looking at less than one. Half of one hundredth of a percent is not a lot of money relative to the industry in revenues. Involved so how far are you on your goal of the five million what we have just started this process of education and seeking seeking partnerships in strategic money raising. So we're not very far along Year hopefully what. We're hoping that you're going to provide a nice big jump start in the education education Even in front able to secure the dollars right away. I think it's important that the community understands the opportunity in front of us if we can build at least a network through through social media following facebook and twitter where we have all kinds of content on credit unions versus banks. What makes you know credit unions different than banks opportunity news articles? It's really that education first and then Soliciting though they the donation secondarily so whenever for a long we just started the process process yet. Truly is a catch twenty two. Because you can't you can't just say You know open your wolf fled. We're GONNA open a credit union and say what are you doing. What do you mean so there? Is this big push.
"credit union" Discussed on Dentistry Uncensored with Howard Farran
"You know you design nine low cost. The only seeks to lower fees or costs like southwest like American Airlines couldn't match southwest of fees because they don't fly direct they fly hub-and-spoke they fly. I several different airplanes. They might have mills all these things so it looks like and Salt Price Club soul price of price club who later it was bought by Geico but he said the same thing he said everything is caused Sam Walton. He wouldn't even have a cell he goes. I'm not going to have a memorial day. CELENA Labor Day sell. That's GonNa cost me money and that's GONNA lower my profits and raise my prices so it looks like you guys have designed a lot of simplistic allegance into into low cost. You hit the nail right on the head. That's what we've been trying to achieve. We have to make this extremely easy to understand easier to to us whether it's lending checking savings we don't Wanna add middleman and middle women to increase the cost to the community. You know when we were doing practice. financing and. You're seeing a broker. Get a one percent commission on a kickback. That Kostas passed onto the dental community. That's an increase point on as call it a million dollar loan one hundred thousand over ten years just to pay the broker a ten thousand dollar commission so we can cut the fat out of the system. Make sure we have the latest and greatest as technology that is compatible. We can control the front end. Basha dramatically decrease the cost across all platforms in the whole the whole model. The Credit Credit Union model allows the industry to do certain things and advocate for the dentist in ways. That aren't being done now. So let me give you an example so so for example most of these banks are gonNA run lending through with the SBA program. They're going to Max out at five million as long as you're five million or below you know you're probably going to get your your loan once you go beyond that. If you want to buy another practice or multiple practice or now you're a smaller mid sized Diaz. Oh you get shut out you end up in the no no lending man zone type thing but also on the other side of that as is private equity so private equity doesn't WanNa touch you either. It goes now. You're not big enough so you're too big for the bank not big enough for private equity all of a sudden the Credit Union Union. We have the way that this industry works. It's a co-op we can lend to those particular mid size and small size. DSO's all day long. So we've just wrapped up that particular market in another way to decrease costs and increase efficiencies at the credit unions. Another name for Co op cooperative. So in the event that our board represented by doctors businesspeople but the board will be made up of doctors practicing doctors if they decided that we wanted to have incur the cost.
"credit union" Discussed on Millennial Money
"And So I know you've been here for for like thirteen years in risen up the ranks did you. I know a lot about cranking us before you started here. Actually no I'd have to admit that I myself did not know and so we joke and say best kept secret all right and when I was interviewing and I got called for my interview I decided to do some research and I realized wait a minute. I've been banking. Where like how did I not know about a credit union and really? There's this misconception that you have to belong long to some employer group more was going to ask you to open an account right so you have to belong to the teachers or be a teacher in the or administrative or for a faculty To open an account but with West Com. We're unique in the sense that were community based so we serve southern California which means anyone in southern California can open an account so So you don't necessarily have to belong to a specific employer group to be a member of a credit union interesting saying yeah I was GonNa ask you because I always had this idea that yeah I had to be in this. Like specific niche. Or you know somehow or you don't file fi exactly and then you sort of feel like you you got left out of the party Yes so it's good to know and then you know. I'm curious even about like credit unions in general because I know a lot of our listeners. There's kind of all around the. US You know have access to lots of different credit unions. And maybe they they they don't know You know other than like structural wise like water some of the features that credit unions even in general just kind of offer you that are that are different than so. It's all the conveniences and products and services that you would defined elsewhere your credit union most likely rise so whether it's Just really robust online and mobile banking MM-HMM I think another misconception is sometimes oh my credit unions just a small community hood. Credit Unions. Don't offer CHECK DEPA the ability to be able to deposit my check remotely from my phone right. They can't beat that or acknowledge or the other thing is well. There's not a branch sneer me so it's not convenient but One of the Nice things about a credit union. We're we're cooperative in nature and so For example L. ATM You might not be walking into branch that often. But you're certainly using your debit card withdrawing cash from an ATM or example Tampa West Com. You have access to thirty thousand. ATM's nationwide and if you just put that in perspective at a Maybe another national bank their average would be three thousand. ATM's Navy Difference Right and so what it is cooperative credit the unions come together to share their ATM. Networks that as a consumer you just have more convenient access so it's it's certain things like that like whoa it is convenient after after all Yeah I often joke about the like a black hole in your bank account because everybody has like something they spend money on that sort of like the sinkhole all where You know the bottom just kind of goes out and they don't know how much they're actually spending for. Most people is eating out. We don't like to figure out what like how much how much we're spending money but also find like a trend in ATM Fees Because people are like. Why don't really know how to like categorize not on my budget so I just kind of leave out but I mean I've seen people who've had like hundreds of dollars a month just in those silly? ATM fees from around. So I mean when you start talking about thirty thousand. ATM's like I mean that could be like a sizeable absolute four talking about like people having a tough time being able to save money. Like I often say it's all these little little expenses and something like that could be so you know I mean because every time I have to go to ATM. And I don't like for instance. This is really lame to admit but when I get my nails done they don't take You can't do a tip unless it's cash and I'm like this terrible person. That cash on me so they have an ATM. There's I always have to use every time on like okay. I'm I'm like this financial person here. AM spending three dollars and seventy five cents right right. I'm the stupid. ATM and sadly there's probably one around the corner that's got that could at union symbol on it. Yeah but yeah the yeah thirty thousand. It's super convenient and easy to find and so it just saves you money at the end of the day so and I also like think I know something that you guys do at West and I would imagine maybe this is a credit union Theme as well is that you offer a lot of like educational opportunities -tunities that are free. which are great? Because I think then you know allow someone to maybe like baby step into You know something they they Wanna learn about absolutely so really.
"credit union" Discussed on WSJ Your Money Briefing
"Credit unions are all grown up for decades. They were seen as a small mall. down-home slice of the world of consumer finance but now they're growth rate has rivaled banks. In fact some credit unions are buying small banks so what a sparked their Growth Wall Street Journal reporter in ice is here to explain so ben since two thousand nine some credit unions have seen a higher growth rate than many banks. How did that had happened? So you've seen a bunch of different things really propelling. This credit unions growth has has been going on for a long time but it really took off after the financial crisis and there are a number of things at play people became disenchanted with banks and decided to switch to credit unions. Regulators also didn't crackdown on credit unions as much as they did on banks in many respects specs. And what you saw is that credit unions really started to compete aggressively They're able to offer lower rates by nature of the way that they operate eight and They they use that to move into all sorts of different types of loans and really kind of a market share. There in those rates can be very attractive but it really depends upon what you buy. What what you want alone for? And so unlike a bank Credit Union doesn't answer to shareholders answers to its members which which all collectively own the credit union and what it does with its profits offers. It returns them in the form of lower rates on borrowing or higher interest on deposits and So that's why you can see a credit union offering a lot hot less A lot lower rates than a bank On certain types of loans. And when you look at something like personal loan or he'll walk Credit Unions often compete very well in that area. They don't always offer lower rates right now. They have slightly higher rates on new cars according to recent averages but I generally on the whole that's the reason that credit unions are able to compete as well as they do. You mentioned he lock Home Equity Line of credit. You know a lot of banks have pullback on making car loans the credit unions have not. Yeah what you saw over the past four years or so is that banks really pulled back lot and credit unions kind of came in and took a lot of that market share so in two thousand and eight they made about Twenty three percent of of auto loans and now they make almost a third of auto loans a third of all auto loans really. Yeah Yeah. They've really gotten very big. And in that area and in credit unions have always had auto loans as a bread and butter business. But it's really expanded Nowadays you don't I'll have to go into a credit union to get not alone. A lot of them offer them what's called an indirect way Through the dealership so you might get your loan through the dealership and it comes from a credit union and things have gotten so good and credit unions in many cases have become so strong that there are now rules in place that govern the deals feels that credit unions are doing with banks. Some credit unions have actually purchased small banks. Yeah that's that's sort of one of the recent trends that you've seen as as as credit unions have grown they Some of them are buying small community banks. And that's sort of one way to add to your to your deposits your deposit basin Jason and Be Able to increase your business and and it's increasingly what we see in community banks Being is that are really under pressure both from the credit unions but also larger banks as well and it's not as if all or even most credit unions have seen explosive growth. Many of the smaller ones have actually actually suffered. Well that's true we should be clear that The growth in credit unions is in large part because of the biggest credit unions. You've seen some that. Are you know have grown own to be eighty ninety over one hundred billion dollars in assets but at the same time you still have. The vast majority of them are tiny and they They might have just a small amount of assets. It's an an and therefore Be You know really kind of what you think of. As traditionally a credit union but even as the stronger credit unions have become well capitalized. Some McConnell and analysts are a little wary of how they might fare in an economic downturn. Yeah I think what sort of one of the uncertainties here is that you know the last time we had a financial crisis their credit unions were not this size and now they are now. They're now they're as big as banks but in many ways. Regulators haven't kind of clamp down on them the same way they have as banks. Thanks so could there be an issue down the road. I mean it's you know who who can really help but it's something that people are sort of starting to be more on alert for as these credit unions get solarge and then also one of the reasons why they've gotten into car loans to the degree that they have is. I guess that they're betting on people being able to continue to pay off their car loans even if a recession were two and one of the things that you see credit unions get into more and more as as these long term car loans these loans that are six seven even eight years long and that's a trend. You see sort of across the the auto lending space that you have just these very long-term car loans but credit union sort of make a disproportionately large charged Share of those loans. So you know that means that these loans are outstanding for a long period of time and credit unions. Really have to be careful to make sure that the borrowers can can pay for that entire period of time and you've written about that for the Wall Street Journal that can get consumers into a bit of trouble. Yeah yeah definitely. It's it's something you know that we've also seen and happened during the last decade or so. That people really get themselves very indebted by taking out of long-term car loan. Okay that's Wall Street Journal reporter Ben Ice in here in our studio Ben. Thanks for coming on the show. Thank you and that money briefing. I'm Charlie Whelan in New York for the Wall Street Journal..
"credit union" Discussed on WSJ Your Money Briefing
"Briefing for Tuesday December third. I'm JR Whalen at the Wall Street Journal. Final in New York credit unions are no longer just a small group at work. That can get you a good interest rate on a car. They've grown to the point where they're buying small banks but can they survive recession. We'll ask a Wall Street Journal reporter to explain I some money and market news. You should know if you start seeing more pop up shops around. Don't be surprised. Industry analysts. Say that pop up shops. Those small short-term brick and mortar locations for digitally native brands are becoming increasingly important part of the three point eight trillion trillion dollar. US retail scene. That's because they allow brands to use data about their customers to figure out the best time and place to set up a real world presence and then close close within a few days or weeks before losing profitability digitally native brands holding an estimated twenty seven point one billion dollars in revenue this year. That's up four and a half billion from two thousand eighteen and they represent four percent of all online sales. And how frustrating is it to grab a loaf of bread in your kitchen cabinet. Only to wind wind up throwing it out because it's gotten moldy a survey this year by the American Bakers Association found that nearly three quarters of generations z millennial consumer's the ages eighteen to forty one are bothered by wasting bread in more than twenty percent said. They often or always skip buying bredon their next trip to the store after throwing inbred away and more than half said they would buy more baked goods including bread if they came in smaller portions bread companies and grocery stores are listening. They're putting smaller are low on the shelves and that could mean a whole lot less wasted food..
"credit union" Discussed on Accelerate Your Business Growth
"Welcome to accelerate your business growth with your host Diane Helbig Diana's a leading small business development and leadership coach just been so volatile will say between what goes on with interest rates well because I'm looking at the stock market and all that clown and a and a collateralized loan guesses sure okay sure and and and and I'll start with the SBA loan and what exactly that means and you've probably heard this in many of your listeners where they've heard somebody say I've received an spa loan and what in better condition conditions for the loan and additional funds where we may not be able to do it traditionally and it expands that credit box and it's actually okay so it sounds like I mean I feel like what I'm what I'm going through my head is things I don't never knew before which were why even considering a credit union for a business loan in the first place like I can hear reasons why seems like it it's a it can be a better fit are there other reasons that a business should consider a credit union in over a bank shirt it really comes down to your goals it comes down to your goals into who you would like to see and there's people who have who like that community based institution where you can go in and talk to somebody and have access to the decision makers at the institute Susan directly and form those relationships so that the people who want that experience a credit the union is a good fit for you you know it used to be there was first National Bank of whatever town on every main street in America those days rapidly declining yeah but this really sounds like that see this is what's so interesting for me as you're talking about it I'm thinking this sounds like the the old days where the local businessmen would go into the bank can and talk to the bank and the bank guy they knew each other they went the church together whatever on a bowling league together you know whatever it is and so they knew each other and it was more of a trusted sort of relation the ship then transactional that's exactly right our challenge it there there's not too many people that I talked to where they okay wow that's a horrible idea I don't know why it ever want us to a situation like that my challenge is many people don't think of that as an Russian even though like I said there's a third of America belongs to a credit union and generally have a pretty good affinity and feeling in a bout that relationship but they don't reach out to that for their business and some of that's historical it was really only back in nineteen ninety eight that Congress change the Federal Credit Union Act that allowed this in a much larger base assists in larger scale where we had the permission to do it and I I I got into credit unions in nineteen nine or two thousand and one and to give you an idea just on by home state of Pennsylvania when I first got into credit unions in the higher state there was twelve million dollars among every credit union business loan if you add them all up together and most of those were amish loads today there's over three and a half billion of commercial loans among credit unions and Pennsylvania and there's oversee seventy billion in the entire country for credit unions business loans so it's really rapidly expanding and there's a lot more credit union's offering this it used to be when I first started it was the one off unusual item is as a novelty now it's really becoming where the vast majority of credit unions offer solutions to small businesses In there community yeah it it's it is I mean that's why this is so interesting for me because I really I don't think people realize is this and And they need to know about it because I think they think that crayons banks of the same or if they know are there different they don't even think about their business as you said they don't even consider their business when it comes to their credit union actly and much like credit unions are a cooperative institution firm for the members as I mentioned we're tend to be cooperative and industry my company M bfs we are actually owned by ten different credit unions and work with over sixty credits unions in the country so people and what we do is we provide they basically the nuts and bolts and sales and everything too get the to allow credit unions to offer loans to their members and think about it this way instead of every credit union going out and buying a loan system and hiring underwriters hiring salespeople and everything you have to do to offer this they we've essentially got together and built it all on the back end so that we can all do it much more effectively to each other and when people work with us what happens they can we we really match up with their credit union that makes sense for them if they don't have their local institution to work with if they just say I like this concept but I'm not sure who to go to we really just process it on behalf of a Credit Union to get you the financing you need and a credit unions are they're kind of those mid size community based institutions we also then partner lenders together so they can fund the law collectively and grow and expand to a Mutt with your business wow that that's really also credit unions that work individually so if somebody comes to it's very common for somebody to contact me and say I'm in Oregon where I might not have credit unions on a local basis but we have a network of people like myself where we hook you up audiobook when you sign up for the trial today we're speaking with Mark Ritter about business lending and credit unions.
"credit union" Discussed on Accelerate Your Business Growth
"Uso thanks so much for joining me today Mark Thank you for having me appreciate the invitation I am thrilled to have you here business lending is always a big topic something that I think the majority of lists owners either are curious about or are in the you know getting ready to do something about and and don't necessarily have enough information so I actually like to start with asking you what you you think the biggest mistakes small businesses make when they're looking for financing sure I really think it comes down to two uses that that I see as most common and the first is businesses having good communication backer forth in an open relationship with their lender or potential lenders they need to ask questions and they need to listen and they need to be able to build a talk through the potential lender what exactly their process is that they understand how this institution works as opposed to maybe some other ones I see a lot of people who look at banks and credit unions the that are all saying they're all homogeneous but people work so much differently it's almost like a restaurant you don't go to every restaurant ahead having the same expectations there's really quick cheap and easy there's high end and there's everything in between at the end of the day they fill you up but they're very different institutions and you need to find somebody who culturally goals and what you want to accomplish that's so great I love that that makes so much sense to me they're like restaurants I really liked that analogy so so and this sounds to me like what you're saying is even Credit Union to Credit Union bank to bank they can be very different institutions is that fair Oh certainly people have different credit cultures the Credit Union Industry he has itself has some alcohol some homogeneous values but Saddam credit unions are said up in low income areas is to help out some underserved markets where people that they don't have access to institutions some credit unions are very large they focus on real estate some focus on SBA loans and more operating businesses but in the credit union space we worked together Cross institutions a little bit more than the traditional commercial banks so that's interesting I what it takes to actually get a business or Real Estate Investment Welch so what are the keys to being able to really secure alone sure the the the main factor that talk about is understanding your business and numbers so that we can make the process easier and when I say understanding Your Business I mean relative to others in your industry and and because credit unions today really what the lend money to banks or with the businesses so we try to make it work and that involves having the tough conversations with your fought with your potential credit union partner and really talking through the challenges at your loan at the end of the day we have to show with a reasonable certainty that you have the ability to pay us back in the future and many times with a small business the numbers only show so much we want to understand what's your numbers mean and that you'll be able to pay us back in the future so we can make more loans to more businesses in the community so it really comes into being prepared and understanding in Your Business and if there's challenges to your loan we're probably eventually going to find that out eventually and it will be much much enter to the process if you bring those up to us and talk through those conversations so that we can develop a solution that works for everybody okay so that sounds to me like the business owner should well first they have to understand their own numbers their own cycles their own customer base and prospects and whatever it is they're hoping to achieve they also have to be able to articulate that it is at over like a couple of years like do they have to be able to say for the past so many years this is what has been going on in their business and this is what has been going on in the marketplace for their industry so a a credit union for for the most part relative to a commercial bank is a community based financial institution so we have a lot we have to show look at the numbers and the numbers have to make sense we're still a regulated financial institution but we'll take in much greater factor all of those qualitative Pieces about you and your business do you understand the your marketplace who you are what's your experience do you have a relationship with other credit unions that you've shown yourself to be a credit worthy visual so we can we can look at the more we can look the pitcher in totality maybe last year was a rough year but if we understand that you investing in some money in your business or shut down a line of business that maybe doesn't make sense anymore and we can look at the future that really helps us out into into painting a picture and getting your business the money that you need so you can grow your business I I see so so am I understanding you right that part of it is for example I have car loans with my credit union as as a person so like that gets taken into consideration a relationship like that oh absolutely what you one of one of the key differences with any credit union go to is it has a cooperative financial institution you know when you look at it there's a hundred it has the same products and services and car loans and checking accounts and mortgages that you may see at your commercial bank but over a hundred million people belong to credit unions in America today so quiet large portion of them own businesses so we look at it as are you a member of the cooperative and we want to help you grow to be accessible financially versus you're going to somewhere where there's a shareholder and we're trying to do something that benefits a shareholders versus the membership and you as a person and a small business owner so we love relationship businesses ah I went to a commercial bank they probably fire me within a week because we have a much more casual approach to life we want talk and get to know people the relationship counts the relationship matters you know and that's why I really enjoy being part of the Credit Union story it's nice that people aren't protesting in the streets against their local credit unions for the most part that's a really good point it is absolutely I mean it is so different so in today's marketplace I mean things that what what is the landscape today for a small business owner being able to get a business or real estate loan you met you hit one of the key points in today's world and the theme of this year that everybody missed is interest rates first rates have plummeted over the last few months and you've seen that in in that is rarely carried over to the small business community if you're business owner and receive financing within the last two years absolutely look at caulking to your local institution and asking about lower interest rates negotiating something down as as a federal credit union we don't charge any prepayment penalties so we tend to make it more we want to get you the best deal that makes sense now but the liquidity in our industry it's very strong it's a great time to go get a loan credit unions lend deposits that are in the instance toossion they as an industry we don't really do much a lot of borrowing hedge fund we're not dealing with Wall Street where lear really lending off the local deposits in there from the community and the economy when we look at businesses we're not seeing a big downturn worth seeing things is very stable you know there's a couple pockets particularly maybe agricultural industry that has seen a little bit uptake in delinquency for for the most part we things are pretty solid and the regulatory environment is wonderful today you know when I first got into credit unions it was very tight and restrict about what we can do today credit unions have an extraordinary ability to reach out to whether you're a real estate investor whether you're a business owner with their local community organization to really get you that financing you need okay so is it easier for a company that has a product that they make as opposed to a service business or is is it really based on your history your relationship with the community and your credit worthiness well much much like any business lending particularly in the small business lending if you if if you're have something more tangible you know that's sometimes a little easier to lend off where that's the security but we also have the ability to to work with more of that service oriented businesses sometimes if we're getting into a service oriented business now and I think of a dentist if you're a local dentist lying another practice you know you're buying some tables and chairs and the lights that stick in your face where maybe there will go with an SBA loan versus somebody who's buying a fleet of trucks where sometimes easier to the finance those trucks so there's a lot of products and services out there it depending on the type and nature of Your Business Okay so so thank you for that and we'll you can you explain the difference between an SBA typically means is they received a loan from their local Credit Union or bank that where a portion of that is guaranteed by governor I bet and what that is for is to allow a credit union to expand our credit box to provide I financing to somebody in the community where under traditional terms we might not have been able to do it and I can think of a good exam apple is maybe you're buying a new location in a strip mall where it's going to cost several hundred thousand dollars to build out your business in the Strip mall well as a strip as a lender somebody else owns that strip mall and once you build it out that that's becomes part that's not really part of the real estate but it's needed for your business as a lender I can issue a loan to that that is guaranteed by the permit because I think you can pay me back in it's good for for openness business but it reduces my risk and we'll see that in maybe if you're buying a business or you're expanding a lot and need that working capital financing and franchises are very commonly used offer SBA loans and that really helps us where we like you and you like us and and we can offer you better terms very reasonable interest rate interesting okay.
"credit union" Discussed on Accelerate Your Business Growth
"Uh author and speaker who is passionate about sharing valuable ideas tips and techniques with business professionals worldwide diane brings you the world's experts and gurus in all things business whether it's sales structure social media planning or Plateau wing guests bring their expertise and energy to each episode when growing Your Business is your focus accelerate your business growth is the show to listen to got a topic or guests suggestion let Diane now the goal is to make sure you have the information you need to move your business forward thanks for joining US settle in and enjoy hi everybody thank you so much for joining me. Today's podcast is sponsored by audible dot com audible dot com a leading provider of spokane audio entertainment and information listen to audiobooks whenever and wherever you on get a free book when you sign up for a thirty day free trial at audible trial dot com slash business growth accelerate your business growth podcast yes continues to gain recognition as a great resource for business.
"credit union" Discussed on Q95
"The navy federal credit union is that the NO hi we almost lost X. is proud to present yes they are they Love Me the sports desk and it smells so nice over there I'm sorry your your over the weekend there was some behind the scenes things going on and one of our people on the staff texted me and asked me if I would want to go to dinner with a couple people last night and your dad and I texted back yeah sure I'll be there and apparently I have shocked the for you by accepting an invitation going to dinner with these young woman having a lovely time I have a question and everybody is what is so there was an open bar they brought Redskins been well here's what's weird all right go first off you know they didn't bring right you Jack no one else was invited right now so that's shop I don't have anything to do with that how they would use I'm back in all when it comes to other people you've been known to be Hey full we had a meeting last week yeah all of a sudden you get up right no joke tricks that other girls this may or may not be an Irish bar say two words did anyone I sure did at the lunch yeah so I talked to weird fellow I you referred to him and all his fellow devils avoid no the guy sitting next to me was a rescue okay you're kind to read what is under is constrained was full of knowledge I hope I get it now I can help out the check at that meeting did say two words yeah the legal permits that those socks I have the cauliflower crimes Dr light well last night at dinner which you have left I had a burger I had Kennedy having the common touch your out with the holy are you are you motion to someone who dropped his wallet on the ground I did a good deed was Joe thigh I took the cash out you actually said excuse me you have dropped your wallet on the ground and he said thank you very much time stranger and they don't look me in the eyes but how did I get this reputation for my constant behavior in this man kind of well that's very nice I'm glad you're growing you're you're you're turning you know you want to get the book out book a broad musical like that will have to get the dollar actually tales of if you I think this is a good day what if I text as they come out for a burger yeah yes the bye for now I was there at the time because I'm almost twenty nine he didn't ask me because I have that auto return on my email whatever it is like how busy was attacks story.
"credit union" Discussed on Wash FM 97.1
"Credit Union. One. Hello. Ninety seven point one wash FM..
"credit union" Discussed on WEEI
"Credit Union, we help our members execute missions every day like operation. Oh, no. You don't you got the check last time. Besides I want the points for our fishing trip coming up it's going to take four wheelers and canoe to find the perfect spot. This time apply now to start earning triple points at restaurants, double points on gas and single points everywhere else with the go rewards credit card from navy federal maybe Federal Credit Union are members of the mission. Open to the armed forces, the DOD veterans and their families insured by NCUA Keefe. Dead happens. It's how you get out.