...To Adjust or Not to Adjust: The Case of BNB Credit Union Background Information BNB Credit Union was founded by the Beiterman family over 100 years ago in the small town of West Klirk, GA. Since its founding, BNB has served the local population with mortgage, auto, and small business loans, as well as otherbanking services. Because of West Klirk’s remote location, BNB was the only bank used by most of the members of the community. In the last twenty years, BNB has struggled to maintain its position as the primary bank of the local community. Online banking services, heavy marketing by large banks in nearby towns, and a small branch office opened in West Klirk by a national banking chain have all served to reduce BNB’s profits. In order to improve their shrinking deposits and loan portfolio, BNB’s management was forced to increase the interest rate paid on savings accounts, and to reduce interest rates charged on several types of loans. These measures further dipped into BNB’s profit margin, but allowed the credit union to retain most of its customer base. Friendly customer service and less stringent regulations for credit unions also helped. The situation changed with the banking debacle in 2009. The local branch of the national bank closed in early 2010, and lending limits and new restrictions on many of BNB’s competitors have allowed BNB to slowly improve profit margins. However, BNB still hasn’t fully recovered. The Beiterman family has offered the management...
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...Systems……………………………………………………7 Management Information Systems…………………………………………………8 Decision Support Systems…………………………………………………………..8 Artificial Intelligence………………………………………………………………..9 Section 4: System Development………………………………………..………………..……10 Overview…………………………………………………………………..…...…..10 Waterfall Method…………………………………………………….……………10 Prototype Method…………………………………………………………………10 System Design………………………………………………………….…………..11 Section 5: Information Systems and Society…………………………………………………13 Section 1: Information System Overview Organization Overview USA is a medium size credit union that was founded in 1948 and has grown to over half million members’ worldwide and about 6 billion in assets. USA operates 71 branches in four states and ATMs in a fifth all along the west coast. We operate a very diverse IT department, it is the second largest in the credit union after all the branch staff. We currently have two mirrored data centers, one in Alaska and the other is Arizona....
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...Prime Financial Credit Union’s Robbery Crisis Management Strategy Submitted by: Stephanie Koenig, Amy Seipp, Michael Hill, John Holmes Jr., & Charles Tate Introduction Crisis management is a complex process that requires competencies of individuals throughout and beyond the organization. When asked about their preparedness in the event of a crisis, banks will often point to plans prepared by operations officers, data processing managers and human resources supervisors. In the case of an uneventfully unplanned bank robbery at your local federal bank, being able to react quickly, efficiently and in an organized manner may result in defusing an unpleasant situation quickly, or at least in mitigating the overall adverse publicity received by your organization. If you are not organized and not cognizant that a crisis will arise at your institution, then your first reaction will be to panic. Banks and thrifts are tested in the marketplace by adverse circumstances. Those institutions with crisis management task forces in place can react in a manner that will mitigate the adverse circumstances facing the organization. Potential Crises Bank robberies are relatively uncommon: only about 2 of every 100 robberies are of a bank. Although violence is rare, employees and customers are at some risk of injury. If nothing else, being victimized can be terrifying. In addition, bank robberies can invoke fear in the community at large, as most are well-covered by the media...
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...mission and objectives” (Wheelen & Hunger, 2010, p. 19). Unfortunately, the present strategy at Southern Lakes Credit Union is in trouble due to the financial crisis that has plagued the credit union industry. In 2009, credit unions were not offered a government bailout like the banks received. Therefore, each year credit unions all throughout America will have to pay a percentage of their assets into the NCUA (National Credit Union Association) fund. This will be necessary in order for the industry to stay operational in the United States. Therefore, for mid size organizations like Southern Lakes Credit Union, yearly profits will be depleted in order to pay this assessment. Finally, these assessments have led to low morale amongst the staff as a result of pay increase freezes, mandatory 2 week furloughs, and 50 percent reduction in 401k contributions. Next, our organization is desperately trying to prevent being acquired by a larger credit union by strategically implementing several products and programs that focus primarily on the younger demographic. Therefore, SLCU has developed teen checking accounts, add on certificates of deposits, and rewards for good grades. Southern Lakes has even devoted its time to charity, donations, and providing scholarships. Finally, we even built a branch inside of the one of the local high schools with the intent and purpose of promoting financial literacy. Therefore, in order for our organization to...
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...INTRODUCTION 4 1.1 BACKGROUND TO THE STUDY 4 1.2 STATEMENT OF THE PROBLEM 4 1.3 THE AIM OF THE STUDY. 5 1.4 OBJECTIVES OF THE STUDY 5 1.5 RESEARCH HYPOTHESIS 5 1.6 RESEARCH QUESTIONS 5 1.7 LIMITATION OF THE STUDY 6 1.8 ORGANIZATION OF STUDY 6 1.9 SIGNIFICANCE OF THE STUDY 6 CHAPTER TWO 7 2.0 LITERATURE REVIEW 7 2.1 STRUCTURE AND PERFORMANCE OF RURAL AND MICRO FINANCE INDUSTRY 7 2.2.0 RURAL AND COMMUNITY BANKS (RCBS) 9 2.2.1 SAVINGS & LOANS COMPANIES 10 2.3 NON-GOVERNMENTAL AND COMMUNITY-BASED ORGANIZATIONS 10 2.4 INFORMAL FINANCE 11 2.4.1 MONEYLENDERS 11 2.4.2 TRADERS 12 2.5 GOVERNMENT CREDIT PROGRAMS 12 2.5.1 INTEREST RATES 13 2.5.2 SECURITY 13 2.5.3 THE NEED FOR THE RURAL CREDIT 14 2.5.4 RURAL BANK OPERATIONS 16 3.0 METHODOLOGY 18 3.1 THE RESEARCH DESIGN 18 3.2 POPULATION 18 3.3 SAMPLE AND SAMPLING TECHNIQUE 18 3.4 INSTRUMENT 19 3.5 DATA COLLECTION PROCEDURE 19 3.6 DATA ANALYSIS 19 CHAPTER ONE INTRODUCTION 1.0 INTRODUCTION 1.1 BACKGROUND TO THE STUDY If current agricultural trends continue, by the year 2020 sub-Saharan Africa’s food shortage will...
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...PEST Analysis of Bulgaria Table of Contents PEST Analysis.............................................................................................................................................. Political Factors......................................................................................................................................... Ruling Part........................................................................................................................................... EU confrontations.................................................................................................................................. EU support............................................................................................................................................ Trading Partners................................................................................................................................... Visa Free................................................................................................................................................ Economic Factors..................................................................................................................................... Economic Growth.................................................................................................................................. Macro Economic Factors.........................................................
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...Marketing Plan Marketing Management Contents Introduction 3 Environmental Analysis 3 The Marketing Environment 3 Target Markets. 5 Current Marketing Objectives and Performance. 5 SWOT Analysis 6 Strengths 6 Weaknesses 7 Opportunities 7 Threats 8 Matching Strengths to Opportunities/Converting Weaknesses and Threats. 8 Marketing Objectives 8 Marketing Strategies 10 Target Market(s) 10 Marketing Mix 10 References 12 Introduction ICC Innovation, LLC is one of the companies that offer unique reporting services to the customer and companies. ICC Innovation offer direct access to information gathered from top 3 nationwide credit report agencies such as Experian, Equifax, TransUnion and their partners. Uniqueness of that service that ICC Innovation offer not only credit report information, but also offer access to consumer report and identity verification information. ICC Innovation focused on internet solution for businesses in financial area for companies like financial institutes, banks, mortgage and insurance companies etc. As a small company with fewer than ten full-time employees and a host of freelance and part-time help, ICC Innovation, LLC is faced with strong competition in the category from larger credit report agencies and companies that offer similar services who, in recent years, have increased their advertising and PR budgets. Environmental Analysis ICC Innovation, LLC is a privately-held company established in 2009. Of the ten...
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...May 19, 2008 Criteria: Sovereign Credit Ratings: A Primer Primary Credit Analysts: David T Beers, London (44) 20-7176-7101; david_beers@standardandpoors.com Marie Cavanaugh, New York (1) 212-438-7343; marie_cavanaugh@standardandpoors.com Table Of Contents Criteria Update Rating Basics Ratings Methodology Profile Local And Foreign Currency Rating Distinctions Rating Changes Sovereign Ratings Compared To Nonsovereign Ratings Historical Default Trends Appendix: Sovereign Default Definitions And Emergence From Default www.standardandpoors.com/ratingsdirect Standard & Poor's. All rights reserved. No reprint or dissemination without S&P?s permission. See Terms of Use/Disclaimer on the last page. 1 648990 | 300000861 Criteria: Sovereign Credit Ratings: A Primer Criteria Update Sovereign credit ratings reflect Standard & Poor's Ratings Services' opinions on the future ability and willingness of sovereign governments to service their debt obligations to the nonofficial sector in full and on time. Ratings coverage continues to expand, with the 118th sovereign rating recently assigned to the Emirate of Ras Al Khaimah (see "Sovereign Ratings And Country T&C Assessments," updated regularly and available on RatingsDirect, the real-time Web-based source for Standard & Poor's credit ratings, research, and risk analysis, at www.ratingsdirect.com). This criteria article replaces an earlier article of the same name, which was published on Oct 19, 2006...
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...Analysis of Costs and Income of the M.S.U.F.C.U ATM Network* Brian R. Armstrong Jeffery K. Barron Jeffrey D. Elgas April 26, 2002 Abstract. We examined the profitability of the automated teller machine (ATM) service provided by the Michigan State University Federal Credit Union (M.S.U.F.C.U) for one month. The cost of operating each M.S.U.F.C.U ATM in the 76-machine network was determined. We constructed a tool for determining the monthly profit for the M.S.U.F.C.U ATM network. Observations were made concerning the relationship between ATM profitability and distances from the M.S.U.F.C.U. Simulations of surcharges for guest transactions were performed. * Work done for the Michigan State University Federal Credit Union under the direction of Jeffrey G. Jackson, Vice President of Finance, in partial fulfillment of the requirements of Michigan State University MTH 844, advised by Professor Gábor Francsics. Table of Contents Introduction…………………………………………………………………………..…… 3 Experimental Data From the M.S.U.F.C.U ATM Network………………………..… 3 Experimental Data Analysis of Revenue…………..………………………………..… 4 Experimental Data Analysis of Costs….…………...………………………………..… 5 Experimental Analysis of Distance versus Profitability ……………………………... 5 Experimental Analysis of Surcharges….……………..……………………………..… 6 Recommendations……………………………………………………………………..… 8 Future Work……………………………………………...……………………………..… 8 References………………………………………………………………………………...
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...RURAL BANKING IN UGANDA: IT’S IMPACT ON RURAL FARMERS (A CASE OF UNYAMA) BY HENRY EGYEYU Reg N0: 07/U/456/BAK/PS MAY, 2012 DECLARATION I Henry Egyeyu, hereby declare that this research report is my original work and to the best of my knowledge, has never been published and submitted for the award of any degree in any University or Institution before. Sign ……………………………………………….. Date ……………………………………………... Henry Egyeyu Reg No: 07/U/456/BAK/PS APPROVAL This research papers under the topic “Rural Banking in Uganda: It’s Impact on Rural Farmers” Has been under my supervision and is now ready for submission with my approval. Sign: ……………………………………… Date: …………………………………. Mr. Ambrose Eger Supervisor DEDICATION To the memory of my late grandfather Daniel Egyeyu Whose love & enthusiasm for academia first kindled mine? ACKNOWLEDGEMENT Achievement often sets off a chain reaction. Those who earn awards in various disciplines in their careers inspire us in turn to strive and excel with hard work and deeds of succession. That has been true of the process of writing this dissertation I am grateful for the motivation of Geoffrey Epolu at guluuniversity@AR.com whose question, “Do you want to graduate?” first got me started. Paul Onyango Delewa, lecturer at Gulu University, read the first script and encouraged me to go on with the dissertation. Ambrose Eger as he had always done before, made sure that what I researched communicated my...
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...Management……………………………………………… 7-36 7501 Reliance on Qualified and Competent Staff and Volunteers 7-37 7502 Managing Interest Rate Risk… ……………………………… 7-38 Executive Summary The goal of asset/liability management (ALM) is to properly manage the risk related to changes in interest rates, the mix of balance sheet assets and liabilities, the holding of foreign currencies, and the use of derivatives. These risks should be managed in a manner that contributes adequately to earnings and limits risk to the financial margin and member equity. Proper management of asset/liability risk is facilitated through board approved policy, which sets limits on asset and liability mix, as well as the level of interest rate risk and foreign currency risk to which the credit union is willing to expose itself. Policy should also set...
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...Asian currencies and the way forward Let me conclude by flagging five issues. First, as I have already outlined above, a number of recent studies on integration of Asian financial markets have, based on empirical analysis, concluded that regional integration of Asian financial markets, both equity and debt markets, have progressed over the years but is still incomplete and there is a lot of divergence in the level of integration. China has been making definite moves, but there is hardly any integration in the rest of Asia, though spillovers from international markets are increasingly being felt in other Asian markets, including India, which is indicative of growing integration of the Asian markets with global markets. Apart from local factors such as credit or liquidity risks in some Asian economies, the divergence and the lack of progress in financial market integration can be attributed to several factors, particularly the failure to harmonise standards in the regions' capital markets. Second, currency internationalization, which entails market liberalization, requires putting in place regional financial market infrastructure that includes a regional system of clearing and settlement, regional credit guarantee institutions, hedging facilities, and regional credit rating agencies to foster cross-border investments. This will also need to be accompanied by the harmonisation of legal and regulatory systems, market practices, rating standards, accounting and auditing practices...
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...The three decision-making environments presented in the book are decision making under certainty, decision making under uncertainty, and decision making under risk. Decision-making under certainty – Decision makers knows the outcomes of every alternative or choice. They will make a decision based on what will benefit them the best. I’m a firm believer of eating healthy foods all the time. The healthier you eat the better your reproductive system will respond and the better you will feel. I typically find myself paying close attention to how I shop and what I purchase from the grocery store. I tend to eat fresh produce and most things are made from scratch. However this can be very expensive on a monthly basis. It would be much easier and less expensive to buy frozen foods and microwave all my food but overall this would not be beneficial to me. Decision-making under uncertainty – Decision makers does not know the probabilities of various outcomes, as there are several outcomes for each alternative. After finishing High School, I was faced with a variety of decisions to make without possibly knowing the uncertainty of what would happen in the future. Option A was to go straight into college, not knowing if I would finish in my first 4 years. My next option was to immediately go into the workforce and take my chances in the world hoping to land a career and my last option was to join the military not knowing if I would end up fighting the war...
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...Recommendations Cash Connection is a payday lending institution looking to differentiate itself from its competitors and acquire a large portion of the payday lending industry in order to escape the ill-effects of the impending regulations imposed by the government. The payday lending industry is highly competitive and the task of gaining a large hold on the market is not an easy task. This is why the company seeks to develop a strategy that can efficiently achieve results that not only put Cash Connection on top of the market but also keep it there. Cash Connection has proven that being the first store in a new market is typically the one most profitable, with secondary stores cannibalizing the first and decreasing over profitability of the group. Despite the fact that there are untapped markets, it would seem that expanding is not the best option right now. Cash Connection has shown a decline in profitability for the past few years that would make opening more stores impractical due the financial burdens they would place on the company. That doesn’t mean that expansion has to be counted out, it just cannot be the focus of the strategy as a whole. A strategy that increase the revenues generated by existing stores while taking customers away from competitors would provide the foundation for increasing the number of locations available for Cash Connection to do business. By repeating this cycle, Cash Connection should be able to gain an upper hand on the payday lending industry...
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...Savings and Delta Credit Union. Envisions goal was to create a locally –responsive financial institution that would be a welcomed alternative to the big banks for people in the Fraser Valley. The company’s vision is to excel in member service, employee wellbeing, financial strength and corporate citizenship. In January of 2010 Envision Financial and Valley First Credit Union merged to become First West Credit Union. The parent credit union now has Envision Financial, Valley First Credit Union, Enderby Credit Union and Island Savings. All the acquired institutions still operate as their own entity but under the parent company First West Credit Union. First West Credit Union has a board of directors who is responsible for developing the organizational strategy and business plan. The board of directors at First West works closely with the leadership team who implements the organizational strategy. Throughout this report we will evaluate how First West Credit Unions organizational strategic impact the human resource strategy at Envision Financial and how strategic human resource planning is being utilized to ensure the long term success of the organization. Organizational Strategy & Human Resource Strategy Looking at the leadership team of First West Credit Union they have a President, vice-presidents of marketing, vice-president of services, CIO, CEO and CFO; however they clearly have no one on the team representing the human resources department. The local leadership team...
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