How the right charter can strengthen your member base

first_img 9SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Though there are two primary types of credit union charters – state and federal – how it’s employed and whom you target can greatly impact your business.The Federal Credit Union Act of 1934 opened membership acquisition to communities and specific group affiliations. But according to The Credit Union Times, these types of charters were seldom used in favor of occupational charters. In the last 10 years, however, credit unions with community charters have jumped in popularity from 17.9 percent to 35.8 percent. Usage rates of all other subcharters have dropped within the same time span.Though members shouldn’t see a difference in institutions whether backed by the state or the federal government, the local restrictions on your field of membership can affect marketing, benefits and member relationships.Expansion vs. Closed Charter Not only are there community or residential charters, there are also associational, occupational or a combination of multiple inclusion requirements. To expand or not to expand is a question that should not come without a heavy weighing of the pros and cons. continue reading »last_img read more

PKA steps up engagement with companies over exposure to coal

first_imgPKA is to step up its engagement with heavy users of coal and will divest companies – where coal is responsible for as little as 25% of their revenues – if plans to reduce reliance are not put in place.The DKK235bn (€31.5bn) Danish pension provider said the new policy was an escalation of an approach, announced last year, which saw it engage with companies drawing 50-90% of revenue from coal.In a complementary approach, PKA will also begin engaging with companies drawing more than half their revenue from tar sand projects.Peter Damgaard Jensen, chief executive at PFA, said the provider’s decision to divest 31 coal companies had already boosted returns, as the stocks in question declined 70% since divestment. He compared this with a 7% return from offshore wind holdings over the same period.“It clearly shows our climate strategy to increase green investment while phasing out coal investments has been right from both an economic and a climate point of view,” he said.The fund has invested in wind farms since 2011 and recently was joined by Kirkbi, parent company of LEGO Group, in acquiring a stake in a wind farm from Dong Energy.The decision to expand the engagement criteria below the 50% coal revenue threshold will see an additional 53 companies added to PKA’s list.Of the new additions, the majority are utilities providers, while eight are mining firms.PKA has already launched a dialogue with nine of the 23 companies identified in 2015 and said four had already put in place policies to reduce reliance on coal.One company has been placed on a watch list, while a further four have been divested.Damgaard Jensen said the success with four of the nine companies proved the value of active ownership, and the provider said it would now start engaging with the remaining companies it had identified.Peabody Energy bankruptcyThe pension provider’s announcement coincided with the world’s largest listed coal company, Peabody Energy, filing for chapter 11 bankruptcy in the US.A statement by the firm cited the “unprecedented industry downturn” as its reason for the filing, but investors seized on the bankruptcy to argue that carbon-intensive industries would no longer be viable if the increase in global temperatures were to be limited to 2° C.Adam Swersky, chair of the £670m (€915m) London Borough of Harrow Pension Fund, said the bankruptcy was a reminder that environmental, social and governance risks needed to be taken into account.“We have known for some time that some carbon-intensive assets are unlikely to be viable in a 2 degree climate change scenario,” he said.“Trustees must challenge fund managers to put this type of assessment at the heart of their investment strategies.”Luke Sussams, senior analyst at the Carbon Tracker Initiative, added that the bankruptcy was the most significant signal to date that the coal market was “nearing a structural decline”, while Julian Poulter of the Asset Owners Disclosure Project argued that investors for too long had ignored warnings over coal holdings.“Whilst commodity prices played a major role in Peabody’s demise, so too did the climate stigma,” he said.“There can be no excuse for investors now not to reshape their entire industry to account for the systemic risk posed by climate change.”However, Tom Sanzillo, director of finance at the US-based Institute for Energy Economics and Financial Analysis, said the bankruptcy was down to Peabody’s inability to adapt to energy markets where coal was being disrupted by newer energy sources.He argued that the coal industry was not “dead” but needed to focus on greater innovation through smaller markets and fewer mines.last_img read more

St Ledger warns of Zlatan threat

first_img Much of the talk ahead of Friday night’s World Cup qualifier in Stockholm has centred on Paris St Germain striker Zlatan Ibrahimovic and his potential to wreck Ireland’s hopes of claiming the runners-up spot in Group C. The 31-year-old has 33 goals already this season, and St Ledger said: “I have played against a few decent strikers in my time. He is up there. He’s a very, very good striker. I think you could probably put him in a category with people like Messi and Ronaldo. He can win games by himself with magic moments.” Ibrahimovic’s talent is well-known, but his critics argue he blows hot and cold. St Ledger said: “Let’s hope he has a cold one this week. “To be honest, I have not seen too much of him. I wouldn’t say I have watched loads and loads of games of his over the full 90 minutes, so it would be very harsh for me to judge him on that. You only see clips and nine times out of 10, he’s brilliant.” Ireland boss Giovanni Trapattoni and his players flew out to Scandinavia this on Wednesday having completed the bulk of their preparations, and there is little doubt that Ibrahimovic would have come high on his list. But St Ledger admits the Swede is far from the stereotypical big man up front. He said: “When you play against big players, seven times out of 10 you would probably say they wouldn’t be too good with their feet or they wouldn’t be as mobile. But he seems to have the full package. He is obviously very physical, and he’s got the feet. He seems quick enough over the ground, so he has got everything. “Obviously, he’s a very good player – you can’t take that away from him. You give him the respect he deserves and then you just try to play your normal game.” Sean St Ledger has warned Ireland they will have to shackle a man every bit as destructive as Lionel Messi or Cristiano Ronaldo if they are to prosper in Sweden.center_img Press Associationlast_img read more

Video: Is this the man to solve Man United’s defensive woes?

first_imgSo, it turns out an Angel can’t answer Louis van Gaal’s prayers at Manchester United.Di Maria has impressed since joining the Red Devils but hasn’t been able to stop their leaky defence conceding 12 goals in six games.Another new defender is definitely needed at Old Trafford to help and, according to reports in the Daily Express, Van Gaal is keen on bringing in Nicolas Otamendi from Valencia.With compatriots Di Maria and Marcos Rojo already at the club he could fit the bill and bolster a very shoddy backline.Check out what to expect from Otamendi in the video above…last_img