Credit Union Growth Series [Part 1]: How to propel your lending programs through challenging times

first_img This post is currently collecting data… ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Learn what other credit unions have done to keep their loan, deposit, and member growth thriving throughout the COVID-19 crisis. Also in this episode, hear about strategies you should consider to future-proof against risks yet-to-come, such as a resurgence of the pandemic.Key Takeaways:[04:01] What used to be strategic planning has turned into strategic adjustments because you have to stay fluid.[12:55] One safeguard is diversifying lending channels.  Start reaching out to alternatives channels now.[19:39] Start leveraging some of those alternative lending channels, driving opportunities at an accelerated pace, and using technology to bring efficiency to the process.center_img This is placeholder text continue reading »last_img read more

‘We are dying’: No new shopping center openings, leasing grinds to halt

first_imgThe market was projected to see a total of 205,000 square meters of new projects being developed this year, according to a quarterly report released on April 20 by Cushman & Wakefield, which operates in 60 countries. But Arief expected no new openings of shopping centers in the second quarter.“If the pandemic does not abate soon, then the occupancy rate of shopping centers in Jakarta is projected to decline,” Arief told The Jakarta Post on Wednesday. “It was because there were no tenants opening new stores in shopping centers, and many tenants that failed due to COVID-19 were forced to close their stores.”Cushman & Wakefield noted at least seven key lease transactions in the first quarter of the year — excluding lease renewal.The largest transaction in terms of area was by movie theater chain FLIX Cinema with 7,500 sq m of space at Mall of Indonesia, followed by clothing retail company H&M with 6,000 sq m of space at Mall Kelapa Gading, both in North Jakarta.“Many tenants are temporarily suspending their business expansion and postponing their fit-out work,” said Arief.Prior to the social restrictions in Jakarta, the national epicenter of the coronavirus pandemic, the occupancy rate of shopping centers remained relatively stable at 80.8 percent in the January to March period, a decline of 0.3 percentage points from the previous quarter.Wendy Haryanto, the executive director of Jakarta Property Institute (JPI), a non-profit organization advising developers, said on May 15 that owners of retail property needed an elimination of the minimum utility bill to cut costs in order to survive the pandemic.For example, Grand Indonesia, a 17.5-hectare shopping center in Central Jakarta, may have to face a minimum monthly utility bill of Rp 4 billion, although its electricity consumption is estimated to be drastically lower because temporary closure is in place.“This is very difficult,” Wendy said in an online talk on May 15. “Eliminating the minimum utility bill for the property is a must.”Read also: Concerns mount over reopening of offices, malls as Indonesia steps into ‘new normal’Naomi Santosa, the head of property and asset management at real estate services firm Jones Lang LaSalle (JLL), expected shopping centers to see shorter customer visits of between 2 and 3 hours a day as they mainly come for basic shopping needs in the early days after the restriction is lifted.“So people may not hang out with their friends for an entire day,” Naomi said in an online talk on May 15. “I do not see that happening in this particular time.”Topics : The retail property market recorded no new openings of shopping centers or leasing activities in April and May in Jakarta as shopping malls across the country temporarily closed to prevent further spread of COVID-19.Data compiled by the Indonesian Shopping Center Association (APPBI) show that 190 shopping malls across the country temporarily closed.Stefanus Ridwan, the chairman of the association, said Tuesday that some shopping malls had negotiated a one-month rent deferment deal with tenants to ease the financial hardship as a result of the pandemic. Some also offered large discounts on rent or service charge. “We are dying, much less able to survive,” Stefanus, who also serves as president director of publicly listed real estate developer PT Pakuwon Jati, told The Jakarta Post on Tuesday. “We had hoped to make a profit during Idul Fitri, but in these conditions, we did not.”The government has planned to gradually reopen the economy under health protocols to establish a “new normal” amid the continued rise of confirmed COVID-19 cases in Indonesia. President Joko “Jokowi” Widodo visited Summarecon Mall in Bekasi, West Java, on Tuesday to take a look at the mall’s preparations for its upcoming reopening.Read also: ‘I don’t think we can wait’: Business groups ready for ‘new normal’ despite risksArief Rahardjo, the director of research and strategic consulting at real estate services firm Cushman & Wakefield, said the coronavirus restrictions in Jakarta, which were extended to June 4, forced newly developed shopping centers to delay their opening longer.last_img read more

Drunken man shot dead

first_imgILOILO City – A man who wasapparently intoxicated was shot dead in Barangay Calmay, Janiuay, Iloilo. Police investigators said the incidenthappened around 9:45 p.m. on Nov. 19. Village watchmen Federico Marbebe wastagged suspect. Marbebe was detained in the lockup cellof the Janiuay police station. Charges will be filed against him./PNcenter_img Marbebe was pacifying Japlit when thelatter suddenly went berserk and attack the former using a bolo. This promptedMarbebe to shot Camacho using a 12-gauge shot gun. Camacho died on the spot. Resident Jessie Camacho died of agunshot wound on the stomach, police said. last_img read more

Rumson Police Make Arrest In Vehicle Burglary

first_imgRUMSON _ Detective Christopher J. Isherwood of the Rumson Police Department arrested Kimberly Campo, 26, of Bay Avenue Highlands after an investigation into a motor vehicle burglary which occurred in Rumson in the early morning hours of March 15. Campo was charged with multiple offenses including burglary, three counts of forgery, and two counts of credit card theft. Judge Richard Thompson set bail at $12,500 with no ten percent payment for release permitted. Campo was unable to post bail and was transported to the Monmouth County Correctional Institution.Additional charges are pending, police said.last_img read more

Little Silver Bridge Repairs Continue

first_imgWork continues on repairs to this bridge on Seven Bridges Road. According to Little Silver Mayor Robert C. Neff Jr., workers have been toiling weekends and hope to have the bridge ready to reopen around Apr. 15. The county will have all of Seven Bridges Road repaved – two days for milling, two days for paving – while schools are closed for the summer. “Thank you for your continued patience and safe driving while the repairs are finished,” Neff wrote on the borough’s website. “Hang in there!”last_img read more

Neutral report for April

first_imgShare Facebook Twitter Google + LinkedIn Pinterest Shortly before the report on April 10 corn was down 2 cents, soybeans were up 8 cents, with wheat down 6 cents. Traders were looking for corn ending stocks to increase due to less corn being fed. Also, soybean production was expected to increase in Brazil.Shortly after the report corn was unchanged and soybeans were up 11 cents. Corn ending stocks were up 55 million bushels. Soybean ending stocks were down 5 million bushels, traders had expected them to increase a small amount. No surprises for corn or soybeans. Brazil soybean production was up 2 million tons, no surprise. Argentina soybean production was lowered 7 million tons.The main focus of news in recent days has been the US/China trade situation. Volatility has been extreme and is ever changing. There
continues to be a huge war of words from both sides. The reality to
keep in front of us is that it will be late May or later before any
actions begin to take place.Bottom line, no big surprises today.We all know that the weather has not been conducive to corn or soybean plantings taking place across the Midwest. With current weather it will be two weeks plus before we will see planters rolling in earnest.Soil temperatures are obviously below what is needed and will be when we see daily highs struggle to reach 60 degrees as seen during the first 10 days of April. Weather will be in the news in huge amounts for the month. It will be dominant on days when China trade concerns fall off the cliff. It will be big one day and virtually zero two days later. We will not see more reports from USDA on corn and soybean acres until June 29. Next month USDA will provide their first supply and demand tables for the 2018 corn and soybeans.This report will be quickly dismissed as China and weather will dominate the news.last_img read more

Solar Decathlon 2011: Let the Competition Begin

first_imgFor the next several days, “home” for the 19 teams competing in the 2011 Solar Decathlon will be a stretch of the National Mall West in Washington, D.C., that separates the Potomac River from the Tidal Basin.It is a prestigious address, near both the Franklin Delano Roosevelt Memorial and the Martin Luther King Jr. National Memorial. It has the advantage of being one of the most scenic spots in a city that gets tons of visitors. The roar of commercial jets serving nearby Reagan National Airport might interrupt a conversation of two, but that won’t matter. The Decathlon will be the world’s hottest exhibit of solar-powered homes from September 23 through October 2 – an entire village of remarkable and remarkably diverse solar-powered houses that have been designed, transported, built, and tested by 15 collegiate teams from the U.S. and four from other countries: Belgium, Canada, China, and New Zealand.To help kick things off, on September 22 Solar Decathlon Director Richard King and three team members – David Lee, communications manager for Appalachian State University; Allison Wilson, team leader for the University of Maryland; and Mike Hines, project architect for the University of Illinois at Urbana-Champaign – took viewer questions during a webcast designed to offer team perspectives on the contest and the two years participants spent preparing their projects for display on the mall.Affordability – not a typical classroom concernThe competition’s 10 contests include five juried categories – architecture, market appeal, engineering, communications, and affordability – and five measured categories – “comfort zone” (temperature and humidity), hot water, appliances, energy balance (net metering), and home entertainment (which is actually considered both a juried and measured category).Perhaps more than most other Decathlon contests, the one targeting affordability, which is making its debut in the 2011 Decathlon, seemed to bring the realities of the housing market most closely to bear on the design and construction of the homes, which for this competition had to be built within a size range of 600 to 1,000 sq. ft. (The range for previous Decathlons was 500 to 800 sq. ft.) Homes whose cost comes in at $250,000 or lower earn the contest category maximum of 100 points. Homes costing more than $250,000 lose points on a sliding scale that tapers to zero at the contest limit of $600,000.The affordability contest, Appalachian State’s Lee noted, significantly changed the way teams dealt with virtually every aspect of the design and construction processes, and forced team members to make “the same tough decisions homeowners do.”Most architecture students, added University of Maryland’s Wilson, don’t get asked about cost, but as Decathlon contestants, they quickly learned to make cost-effective compromises.The results of the affordability contest, King said, are due to be announced at 2:30 p.m. September 27.Building breadth of knowledgeOne thing the team members discovered about designing and building by committee is that it requires, well, teamwork – a taste for learning about other disciplines, or at least learning enough to keep the vision for the project intact and its development moving forward.“You’re forced to bring a lot of people together to make this happen,” observed University of Illinois’ Hines. “What you see here are projects that mimic the real world.”“In the end, you have a team that’s well versed in everything,” said Lee. From a career-building perspective, added Wilson, the process can open doors. “I’m on my way to being an architect who can speak engineer,” she said.Dealing with a changing lineupAsked about the biggest challenges team leaders faced in bringing projects from concept to the mall, the team leaders, interestingly enough, didn’t focus on particulars of design, construction, transport, and cost. Rather, they agreed that because the mix of participants tends to change over two years as people graduate or become immersed in other commitments, bringing new people in and maintaining momentum proved difficult. “That’s a huge challenge,” said Hines. “You’re in an academic environment, but this is a really a full-time-job project. It’s hard to get everybody coordinated. And the project really is fast-paced. I know two years sounds like a long time, but it goes by quickly.”The process, Wilson emphasized, really is “design by committee. It’s hard.” But she also added that “we all still want to be friends with each other.”last_img read more

A Cheap Sales Force Is An Expensive Problem

first_imgFrom time to time I hear from entrepreneurs who want to grow their revenue without investing in a sales force. Some want to put no money at risk, but they want the results that only come from real investments. They want to be cheap for different reasons, but it’s often a resistance to paying before they get results or because they’ve been burned by salespeople that didn’t produce.Regardless of the reason for not investing, a cheap sales force is really more expensive sales force. You may believe that commission-only salespeople, independent agents, or very low paid salespeople will help you grow your business and reach your goals, but they won’t.Commission OnlyCommission-only is a compensation structure that works in some industries, and mostly only where the sales cycle is short enough to allow the salesperson to be immediately compensated upon making the sale. It isn’t easily applied to long-sales cycle, complex sales where the salesperson might take months to build a pipeline and start winning big deals. Running down the commission-only road costs you time–time that you can’t ever recover.Sometimes independent agents work. But if they represent you along with a lot of other products and services, you have very little control over how much of their effort is really made representing and selling on your behalf. More lost time and more lost opportunities.Very Low Base, High BonusYou may be tempted to try a very low base, very high commission strategy. But getting compensation plans right is more complicated than simply basing the base pay on how little you can get away with paying. If the compensation structure prevents you from acquiring the talent you need to compete and win, it’s an expensive sales force. You’ll spend time, effort, and money without producing the results you need.Don’t believe that this means you should pay any price for the talent you need. Getting the talent you need requires a thoughtful, well planned, and well executed compensation structure. Your budget is a consideration, but there isn’t any way to build a professional sales force without making the necessary investment. The cheaper you are when it  comes to investing in a professional sales force, the worse your results will be–if you even produce any results at all.QuestionsWhat is the primary reason some people don’t want to invest in a professional sales force?What are the real costs of an ineffective sales force?How do you afford a sales force when you have real financial constraints?How do you design a compensation structure that produces the real results you need? How much is that driven by real constraints and how much is imagined constraints or personal resistance to paying? Essential Reading! Get my 2nd book: The Lost Art of Closing “In The Lost Art of Closing, Anthony proves that the final commitment can actually be one of the easiest parts of the sales process—if you’ve set it up properly with other commitments that have to happen long before the close. The key is to lead customers through a series of necessary steps designed to prevent a purchase stall.” Buy Nowlast_img read more

NU secures twice-to-beat edge, FEU trumps UP

first_imgSports Related Videospowered by AdSparcRead Next Bryan Bagunas and Angelo Almendras led the Bulldogs with 15 points apiece while James Natividad played a supporting role finishing with 13 points.In the second game, Far Eastern University got at least a playoff for a twice-to-beat advantage after brushing off University of the Philippines, 25-20, 25-14, 19-25, 25-9.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSPalace wants Cayetano’s PHISGOC Foundation probed over corruption chargesSPORTSSingapore latest to raise issue on SEA Games food, logisticsThe Tamaraws stayed in the second spot at 10-2 while the Fighting Maroons dropped to a lowly 1-11 card for the worst record in the tournament.Peter Quiel had 15 poits for FEU with Jude Garcia and Richard Solis pitching in 12 and 11 points, respectively. MOST READ Ethel Booba twits Mocha over 2 toilets in one cubicle at SEA Games venue LATEST STORIES PH underwater hockey team aims to make waves in SEA Games PLAY LIST 02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krauss Philippine Arena Interchange inaugurated Chinese arm wrestling yanks hard for recognition NU Bulldogs. Photo by Tristan Tamayo/INQUIRER.netMANILA, Philippines—National University clinched a twice-to-beat advantage heading into the Final Four after blasting University of Santo Tomas, 25-20, 25-21, 25-9, in the UAAP Season 81 men’s volleyball tournament Sunday at Mall of Asia Arena.The Bulldogs posted their 11th straight win to improve to 11-1  while the Tiger Spikers, who are eliminated from Final Four contention, dropped to 4-9.ADVERTISEMENT Private companies step in to help SEA Games hosting Cayetano: Senate, Drilon to be blamed for SEA Games mess SEA Games hosting troubles anger Duterte DA eyes importing ‘galunggong’ anew Don’t miss out on the latest news and information. Panelo: Duterte ‘angry’ with SEA Games hosting hassles Hontiveros presses for security audit of national power grid View commentslast_img read more