Credit unions, leagues talk tax status, reg relief with policymakers

first_imgProtecting the credit union tax status, the need for regulatory relief and data security were the topics of discussions with policymakers across Capitol Hill this week, as credit union leagues from 5 states participated in Hike the Hill. Credit unions from Connecticut, Iowa, Maine, Pennsylvania and Vermont met with members of Congress, as well as federal agencies, during their time in Washington, D.C.“Our main message was about the credit union tax status and how it’s core to our business model,” said Justin Hupfer, CEO of PolicyWorks. “We wanted to make sure legislators are aware that the benefits of our tax treatment end up with our members, who save $110 million per year in Iowa.”Before their day of meetings, Connecticut’s credit unions enjoyed a welcome session at Credit Union House with CUNA President/CEO Jim Nussle.Once on the Hill, credit unions asked for support of the tax status, support for the Residential Loan Parity Act, support for any proposals that would impose data security standards on merchants and discussed the effect on consumers of the Equifax breach with their congressional delegation. When meeting with the NCUA, credit union leaders had a discussion about the long-term outlook on the Share Insurance Fund. 9SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img read more

Expenses need to be cut, but not in my department

first_imgWe’re all aware that 2021 could be a lean year for earnings, given that loan losses are expected to increase, the low rate environment is expected to continue, and the unknowns seem to outnumber the knowns for the pandemic and the economy.Many organizations are in expense control or cost-cutting mode. One of the challenges, beyond the obvious, is how to get your team on board with the decisions that are being made. Making equal cuts across departments might seem like the best way to avoid “being unfair,” but it’s rarely the best path for the organization as a whole.Strategy and reality are the filters. When making tough decisions, your strategy must be paramount. Think long and hard about any cuts that could chip away at your business model, the ability to generate income, acquire members, cross-sell or the member experience. As you consider, ask how long these decisions will have an impact, and what they might do to your competitive position in the future. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr This post is currently collecting data…center_img This is placeholder text continue reading »last_img read more

Arsenal and Tottenham blow! Top summer target signs new Borussia Dortmund contract

first_img Pierre-Emerick Aubameyang Highly-sought after striker Pierre-Emerick Aubameyang has signed a new long-term contract with Borussia Dortmund, snubbing interest from a host of top European and Premier League clubs.The 26-year-old Gabon star was linked with moves to Arsenal and Tottenham this summer on the back of a prolific season for the German outfit, netting 25 goals in all competitions.Liverpool were also thought to be chasing the rapid forward, who still had three years remaining on his previous contract.However, the Bundesliga giants were determined to keep hold of their star man and decided to “prematurely extend” his deal to fend off potential suitors, with Aubameyang penning a new five-year deal, committing to the club until 2020.“I’m absolutely delighted that the next years of my career will be spent at Borussia Dortmund,” said the forward, who arrived at the Westfalenstadion for just £10million from French side St Etienne in 2013“I feel very happy at the club, in this team and in this city. BVB has become like a second home to me. Every part of me wants to be here and I have never wanted to leave.”Sporting Director Michael Zorc added: “Auba has developed outstandingly. We are very happy that we have been able to tie him down to a long-term contract.” 1last_img read more