‘Fixed’ rates on open-end loans

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » Has your credit union advertised or disclosed rates on open-end loans as “fixed” without specifying a time period that the rate will be fixed?If so, you’ll likely have to maintain that fixed rate until the account is closed either by the member or by the credit union.In February 2010, the Federal Reserve Board issued a Regulation Z final rule that amended the general disclosure requirements for certain open-end loans and the advertising requirements for all open-end loans (Reg Z Sections 1026.5 and 1026.16, respectively).The Fed adopted the two amendments to restrict the use of the term “fixed” (or any similar term to describe a rate disclosed in tabular disclosures provided with account-opening documents and in advertisements) for open-end loans to instances when the rate would not increase until the expiration of a specified time period.last_img

Four signs you’re ready to make a change

first_imgScott is the Principal of Your Credit Union Partner, PLLC.Your Credit Union Partner (YCUP) is a trusted advisor to the leaders of more than 100 credit unions located throughout … Web: www.yourcupartner.org Details 71SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Scott Butterfield I recently had a lively conversation with a credit union friend about missed professional/workplace opportunities due to fear or resistance to change. We each detailed experience we’ve had and what we learned from them. It also included situations we frequently see among our credit union colleagues. Common and reoccurring themes that emerged from our conversation included:Human Resource Roadblocks – There are people in our organizations who “need to go.“ Their attitude, quality of work, and commitment suck the very life out of everyone on the team. Leadership’s inability to address these issues is costing their team and organization dearly. If you’re the leader responsible for this “drain” on your organization, step up and make the change that’s needed – even if there’s fear of critique from the Board or even the members (some of these drains are beloved by members). That’s never a justification for consistently bad performance that undermines your success.Outdated Processes or Technology – There are a lot of unhappy and frustrated credit union people who complain a lot about poor technology, service, and systems, but are unwilling to make the investment to change to something better. I get it: big investments for new systems, due diligence, creating vendor relationships, and training require a lot of money, time, and effort. I’m frequently amazed at the opportunity (income, growth, better service) losses I see from credit unions unwilling to make technology changes when they need to.Toxic Cultures – Many of us have had the experience of being trapped in toxic credit union culture – good people who were once motivated and saw a great future ahead who’ve had the will to live pounded out of them by ineffective and weak leaders who allow the toxicity to occur. I always hold leaders accountable for toxic cultures. They set the tone and own it. People who are trapped in these cultures need to get the heck out of there. I’ve been in this position before; I understand the fear of the unknown. “Where will I go?” “What will I do?” I’ve made the justification that it will get better. I’ve stayed and watched my quality of life go down the drain. I waited too long, but I finally took a leap of faith. It was stressful, I won’t lie. But I can say, hands down, it’s worth it.Are you ready to make a change?Here are four signs you might be ready to make a change:Motivation – If you feel your motivation to do things you enjoy is ebbing, it might be time to make a change. Try to identify what’s draining your motivation and remove the obstacle. There’s nothing more demotivating than working with chronic underperformers and people who could care less.Stress – If your stress is higher than normal, it might be because you’re working hard for better results, but consistently lack the tools (technology, systems, people) you need to get the job done. The stress won’t go away until you can move or deflect the obstacle(s) in your way.Keep up – If the world around you is changing and you’re not keeping up, it probably means you need to make a change. Fear and resistance to change hold us back. If you see the world passing you by, you might want to make some changes before it’s too late. Anxious – If you live in a constant state of anxiety or fear, it’s time to make a change. Credit union work isn’t always easy. It’s a career full of deadlines, challenges, and change. But, with the occasional exception (anxiety created by an exam), work should not create constant anxiety or fear. If it does, you need to evaluate whether you’re at the right place and you might need to make a change.Why it mattersWe operate in one of the most competitive industries on the planet. Our ability to successfully compete will depend on our ability to embrace and manage change. It’s simple: we don’t have a time to spend on ineffective systems, products, or people. Things are never perfect, but we need to have a reasonable chance to win. Thriving in credit union land isn’t easy, and it’s usually a lot of hard work – but if you get to win once in a while, the hard work is worth it. Because at the end of the day, people (members, communities, staff) are better off when we succeed.Changing your situation isn’t easy, but it’s worth it!last_img read more

“Death coaching”: The slippery slope of decriminalising euthanasia

first_imgThe Australian News 25 July 2014THE term “death coaching” is how Judi Taylor describes the tragic suicide of her 26-year-old son Lucas in a deserted park in Germany.  “It was death-coaching, not life coaching, that killed him,” says the Melbourne mother of three sons. Lucas, a talented linguist, ended his life after taking a ¬euthanasia drug he had bought in Peru. Judi Taylor says her son’s every step and every instruction — and strong encouragement — came from a Peaceful Pill online forum run by Exit International, the pro-euthanasia lobby group run by now-suspended medical practitioner Philip Nitschke.Dr Nitschke has declared he will mount an appeal after being suspended by the Medical Board of Australia following his admission he supported 45-year-old Perth man Nigel Brayley in his ¬decision to commit suicide, despite knowing he was not terminally ill. He will be suspended until the end of September pending further investigation by the board.BeyondBlue chairman Jeff Kennett yesterday welcomed the decision, saying “We cannot allow the debate to start that it’s all right for a 16 year old — or a 45 year old — simply because they’re having an off day to attempt to take their own life.”It was a secretive world that Judi Taylor discovered only after his death, when she and her ¬remaining sons hacked into his computer, found his Peaceful Pill forum password and began reading a bizarre and grim litany of ¬online conversations. “There seemed to be hundreds of people busy talking to each other about the best methods to commit suicide,” she says. “Lucas mentioned in his posts that he’d learned about importing illegal drugs and what airports to use. One person would say: ‘Oh, Nembutal’s the way to go.’ They’d discuss whether the best place to go was China or Peru. “It seemed to be peer-to-peer communication, and in all the hundreds of messages nobody was saying they had a terminal illness … What Lucas definitely said was ‘I’m not sick yet’ and ‘I’m quite able-bodied’.” There were even messages to Lucas from a “moderator” Mrs Taylor describes as calling himself Doctor Ted. “He seemed to come in when a medical query needed answering.” He told Lucas ‘because of your weight, you’ll be needing this much Nembutal’.” The mother, who had spoken regularly to her son overseas via Skype — and had seen no outwards signs of depression — could barely believe what she was reading, for hours online, tracking his methodical “coaching” descent towards suicide.…The suspension of Dr Nitschke’s licence was welcomed by South Australian Health Minister Jack Snelling and AMA branches in Western and South Australia, where Dr Nitschke first registered. WA AMA vice-president Andrew Miller said: “Our profession is relieved to be rid of him and wish to assure the community we will always help those with treatable illnesses to recover and live.”Mr Snelling said he wanted to ensure “Dr Nitschke and his abhorrent views aren’t being practised in a medical context here in South Australia’’.http://www.theaustralian.com.au/news/health-science/death-coaching-a-mourning-mothers-rage-at-sons-assisted-exit/story-e6frg8y6-1227000811812?nk=0b1b5f52cd5754b15b2168bac30270d6#last_img read more