GRC leaders have unprecedented opportunity to become financial inclusion champions

first_imgAny time society mobilizes to advocate for positive change, people often ask, “What can I do? I’m just one person.” Credit union leaders are in an enviable position, however. Although each individual who works in the industry is, in fact, “just one person,” the movement has a way of transforming the voice of one into the power of many. Right now, we are experiencing a cultural shift – a needed reprioritization of diversity, equity and inclusion values. While there are many avenues credit unions can take to advance their own DEI impact, one important area is financial inclusion. The issue is far too complex and important to be called low hanging fruit. However, for credit unions that exist to ensure everyone has fair, dignified and affordable access to mainstream financial services, financial inclusion is perfectly aligned with their purpose. Getting board and C-suite buy-in for putting more resources behind the initiative should fit perfectly into the credit union’s mission and strategic plan. But, here’s the rub. Whereas most credit union leaders believe in the importance of financial inclusion, they often get stuck in the regulatory challenges of serving everyone in their field of membership, including underserved communities from different situations. Because so many of the laws that govern compliant financial services are, on their face, restrictive, they worry about running afoul of the rules. Our team of risk and compliance experts has heard this objection many times, and while we agree financial inclusion comes with hurdles, we also know they are not insurmountable.We’re far from the only ones to recognize that financial regulation need not stand in the way of financial inclusion. Credit union professionals who work in governance, risk and compliance (GRC) functions know it, too. That’s because understanding the applicable laws and regulations allows these professionals to properly evaluate risks and requirements and remain in compliance. GRC leaders are uniquely positioned to help credit unions overcome perceived road blocks and move their financial inclusion missions forward. They can determine if any adjustments need to be made to policies or procedures to accommodate both the regulations and any expansion to products and services to better reach underserved communities. This special group of credit union leaders is poised to make a huge difference in the lives of people and underserved communities. If you are a credit union GRC leader (or if you work for one) you have a tremendous opportunity to light a fire under your cooperative’s financial inclusion strategy. Go talk to your CEO today and let them know you are excited to mow down any of the misconceptions about regulations that may be preventing your credit union from helping people ignored (or worse, preyed on) by both mainstream and alternative providers. If you’re a CEO reading this, go take the temperature of your GRC team. If they are as passionate as you about extending your credit union’s reach into the deeper, unseen parts of your community, empower them. Give them the green light to dig into what’s stopping your deposits/savings, lending, financial education and payments teams from bringing the most vulnerable into your membership. Credit unions that have made a concerted effort to introduce more community members to the cooperative model of financial services will tell you that doing well by doing good is not only possible, it’s life changing. So to credit union GRC professionals, I urge you to join the conversation. Your voice is important to achieving richer financial inclusion. There are many helpful tools and experienced partners, including our team, available to assist credit unions with their financial inclusion mission. If there’s anything we can do to support you and your efforts, please reach out. Helping the credit union movement live out its purpose in a more inclusive manner is a high priority for our team. 1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Erin O’Hern As Vice President of Strategic Initiatives, Erin O’Hern supports PolicyWorks’ market expansion through management of strategic relationships, development of market and product integration strategies and thought leadership in the governance, … Web: Detailslast_img read more

NCUA issues proposal to allow capitalization of interest

first_img The National Credit Union Administration (NCUA) Board recently issued a proposed rule that would remove the prohibition on capitalization of interest in connection with loan workouts and modifications. NAFCU’s Regulatory Alerton the proposed rule provides all the details you need to better understand the rule and help us provide useful feedback to NCUA as to whether this rule strikes the correct balance of helpful but not too burdensome. The capitalization of interest is the addition of unpaid interest to the principal balance of a loan. This practice is particularly useful in managing loans in deferment or forbearance, which has been regularly offered during the COVID-19 pandemic. Borrowers are still facing financial hardships as a result of the pandemic that has stretched almost ten months in the United States. Access to viable solutions to address deferred interest will help borrowers and credit unions navigate the uncertain new year ahead.NAFCU has advocated for a capitalization of interest allowance several times this year, including two letters written to NCUA in March and September. The letters, as well as NCUA’s rule release, mention operational concerns and the overly burdensome nature of the restriction. This relief will help credit unions and their members to meet loan obligations during the pandemic and beyond.Current StructureUnder the current loan modification structure, the options for borrowers are limited. Many borrowers may have already been delinquent when their deferment period began under the CARES Act or similar hardship modification. A credit union can seek to recapture the deferred interest in a few ways, each of which has its own flaws for both the borrow and the credit union. This is placeholder text continue reading » This post is currently collecting data… ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr NCUA headquarterslast_img read more

CDC: vaccine deliveries set record, but will strains match?

first_imgNov 9, 2007 (CIDRAP News) – Deliveries of seasonal influenza vaccine have already outpaced the number of doses ever distributed in a single season, officials from the US Centers for Disease Control and Prevention (CDC) said today, but they voiced concerns about a possible mismatch of one of the strains.So far 103 million doses of the vaccine have been distributed to clinics and other providers, the most ever delivered, said Jeanne Santoli, MD, MPH, deputy director of the CDC’s immunization services division, at a CDC press conference today. By the end of the season, 132 million doses of the vaccine will be shipped, which is 10 million more than ever produced before in the United States, she added.Some providers may not have received their complete order yet, but all should have enough of the vaccine to launch their annual flu vaccine campaigns, Santoli said.Despite the plentiful supply of the vaccine early in the season, she said the CDC is working to raise awareness that flu vaccination in December or later still offers protection in advance of the flu season’s January-February peak. Santoli announced that the CDC will sponsor its second annual National Influenza Vaccination Week after Thanksgiving, from Nov 26 to Dec 2.So far, the CDC has noted low levels of flu activity in the United States, which is normal for the start of a new flu season, said Joe Bresee, MD, chief of epidemiology and prevention for the CDC’s immunization services division. Only 2.5% of specimens tested have been positive for influenza, and of those, 90% were influenza A, he said. Outpatient visits for influenza-like illnesses are low in all parts of the country except for the mountain region, where the number is slightly higher.Only two areas are reporting local activity, Bresee said. According to the CDC’s most recent influenza update, only Hawaii and Florida reported local influenza activity. Seventeen states have reported sporadic activity. No pediatric deaths have been reported, he said.”The take-home message is that flu activity remains low and that people should get their vaccinations,” Bresee said. “The supply is at an all-time high, and we should make the most of this opportunity.”Though CDC officials haven’t seen enough isolates yet to determine if this year’s vaccine is a good match against influenza strains circulating in the United States, Bresee said the agency is concerned about reports from last season and this summer of possible drift in the H3N2 A strain.Canada’s Public Health Agency said the Wisconsin H3N2 strain has mutated from the one used in the vaccine, according to an Oct 24 report from CTV, Canada’s largest television network. The agency said the Malaysia influenza B strain also showed signs of change, the CTV report said.Bresee said reports from Latin America this summer suggested a drifted H3N2 strain, and he said a US Department of Defense report estimated that the flu vaccine in its European population last season was only 52% effective, which suggests a mismatch between the circulating strains and the vaccine.”It’s too early to tell-we don’t know what that will mean for the United States,” he said. “Vaccination is still the best way to prevent influenza complications, and this year should be no exception,” he noted, pointing out that even without a perfect match, the flu vaccine can reduce illness severity.See also:Nov 9 CDC press releaselast_img read more

PREMIUMResidents’ participation vital in Jambi peatland restoration: BRG

Topics : Google Jambi BRG PeatlandRestorationAgency peatland peatland-restoration forest-fires-2019 forest-fires forest-fires-in-Indonesia Log in with your social account Facebook Forgot Password ? LOG INDon’t have an account? Register here The Peatland Restoration Agency (BRG) has called on the public to support its efforts to restore peatland areas in the province of Jambi, where land clearing and fires cause trillions of rupiah in environmental damage and impact people’s livelihoods.BRG official Myrna A. Safitri said the agency needed help from locals for its program to gradually restore peatlands amid limited funding provided by the government.“Peat areas that have been damaged over the past few decades cannot be repaired in one or two years. But, with the support of the local community, we are optimistic that the damaged areas can be restored,” she said on Wednesday.Since 2017, the agency had been focusing on the regencies of West Tanjung Jabung, East Tanjung Jabung and Muarojambi in Jambi, as those three were particularly prone to forest and land fires. Those regencies also saw lots of lan… Linkedin read more

South Korea accuses religious sect leader as COVID-19 cases surge

first_imgSouth Korea accused the leader of a religious sect on Sunday of violating self-isolation rules and obstructing investigations into the country’s biggest outbreak of new coronavirus in five months.South Korea on Sunday reported 279 new cases on Sunday, more than double the 103 reported on Friday, with most of the new infections found in and around Seoul.The capital posted a record 146 new cases, out of which 107 were linked to Sarang Jeil Church led by Rev. Jun Kwang-hoon, a controversial pastor and an outspoken government critic. The health ministry said it will file a complaint against Jun later on Sunday, accusing him of violating self-isolation rules by participating in a rally on Saturday and “obstructing” epidemiological investigation by failing to submit a full list of church members for testing and tracing.Thousands of demonstrators took to the street on the Aug. 15 liberation day on Tuesday, protesting against President Moon Jae-in’s policies and defying a ban on rallies in the capital.The surge in COVID-19 cases prompted authorities on Sunday to reimpose tighter social distancing curbs, and President Moon warned of “stern and strong measures” against “some churches”, calling their behavior an “unforgivable act that threatens public lives.”Jun’s church did not respond to telephone calls from Reuters seeking comment.Another Christian sect, Shincheonji Church of Jesus, was at the center of the country’s largest outbreak of COVID-19 infections in February. The secretive group was linked to 36 percent of South Korea’s total cases, and on Aug.1, South Korean authorities arrested its founder, Lee Man-hee, for allegedly hiding crucial information from contact-tracers.Topics :last_img read more

IPE Conference & Awards 2020 is going virtual!

first_imgIt is still possible to submit an entry into the IPE Awards. To open your entry please click here.We are sorry that we will not see you in person in Madrid but we believe, in the interests of everyone’s health and general wellbeing, it is the right decision.All of us at IPE look forward to welcoming you virtually in December. Due to COVID-19 affecting travel and the current – and potentially ongoing – government quarantine restrictions, IPE’s team has taken the decision to convert the IPE Conference and Awards 2020 into a live virtual event.It has been a very difficult decision to make but the safety of all those attending the event is paramount.We hope that informing you of this decision now minimises any disruption to your travel and diary plans.The programme will now be held over three days, 2, 3 and 4 December 2020. For updates on the programme please visit the website here.last_img read more

Pjanić’s goal proclaimed as the most beautiful in 2012

first_imgFootball fans in Italy have chosen the goal of our national team player Miralem Pjanić, in the match between ”Lazio” and ”Roma” , as the most beautiful in 2012.Back then, Pjanić had decided to kick the ball in a straight forward motion towards the opponents’ goalkeeper. Pjanić was about 40 meters away from the goalkeeper, who tried but did not succeed to stop the ball. In this competition, Pjanić’s goal got 33% of the votes.last_img

Westport Winery Co-Owner Kim Roberts Releases Second Novel

first_imgFacebook0Tweet0Pin0 Submitted by Westport WineryWestport Winery’s co-owner, Kim Roberts, is releasing her second novel on Saturday, December 7. Roberts will be signing Poi Son: An Aloha Jones Mystery from 11 a.m. to 3 p.m. at the winery.In Poi Son, Lahaina harbormaster Aloha Jones, has taken a second job as a marine patrol officer. On a break to purchase lunch, hers having been pilfered by her fur sidekick, Wharf, Aloha generates a racial profiling investigation based on their actions. To avoid the conflict and to sort out the reality of having a reunion with her ex-husband Snake, she responds to her sister Sarang’s request for help in saving the family cabin near Hana from a wildfire.Since good deeds rarely go unpunished, Aloha finds herself returning to the community and circumstance that caused her to leave the island and join the Coast Guard after college. After she gets to Hana she is further embroiled in that historic conflict as her least favorite person, Mallory Deems, drowns behind the dam and Aloha is recruited to retrieve her body. Mallory’s husband, and Aloha’s former fiancé Nate Deems, is just one of the reasons Aloha is loath to reintroduce herself to her awkward past.Once on scene, Aloha discovers that Sarang, a retired Marine, is suffering from PTSD and treating herself with medical marijuana. Aloha’s concern for the situation is further complicated by a series of local characters who pull her in different directions as she learns that Mallory’s death is not a dive accident, but murder.Kim Roberts has written for The Daily Planet, Western-Farmer Stockman, Ocean Observer, Spokane Coeur d’Alene Living, Discover Diving, Log Home Living, RV Life, American Fitness and the Leavenworth Echo where she won the Washington State Newspaper Publishers Association Best General Column award. Roberts and her husband Blain formerly owned Lahaina Divers on Maui. Together they founded Westport Winery on the Washington coast where they live within their Vineyards By-the-Sea.Poi Son is available at Westport Winery and on their website.  Also available on Amazon.   The e-book is also available for Kindle readers via Amazon. Westport Winery’s wine club members receive a 10% discount when purchasing either Poi Son or Luna Sea at the winery.last_img read more