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Why Your Board Doesn't Need to Look Just Like Your Members

A common thread weaving its way through credit union governance discussions of late is the suggestion that a board must look like its membership. This is a ...Why Your Board Doesn't Need to Look Just Like Your Members:

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Trump Administration Spurs Credit Unions' Return To Cryptocurrency

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Buy Now, Pay Later Keeps Gaining Ground: New Study Shows Growth Surge

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Caught in Dot Partners with Boston Firefighters Credit Union

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The Pros and Cons of Tariffs

Since there has been so much discussion on Tariffs, I felt a post would benefit our membership. Grant Sheehan CEO NCOFCU Tariffs 1440 Business & Finance Background A tariff—a word derived from the Arabic arafa, meaning “to make known”— is a tax imposed by a government on goods that are imported or exported . Historically, tariffs have served as a primary source of revenue and a means to protect domestic industries, as they make foreign products more expensive, encouraging consumers to purchase locally produced goods. The tools have a checkered history, famously bolstering US textiles, German steel, Japanese cars, South Korean technology, and more, arguably contributing to major economic downturns like the Great Depression. Tariffs can be specific (a fixed fee per unit) or ad valorem (a percentage of the item's value). Purpose Economically, tariffs aim to protect domestic industries, generate government revenue, and influence trade policy. By imposing taxes on imported goods —wh...
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Mike Richards CPA Industry Trends

Weekly News Summary Here are some things that were in the news last week. Please share these articles with your Supervisory Committee and Board of Directors. If you missed previous editions of the weekly news, summaries of those can be viewed at our archive.    Happy Holidays! Mike Richards, CPA      Economic and Industry Issues Knowledge is the key to effective corporate governance. Staying abreast of economic and industry issues affecting your credit union will prepare you for those responsibilities. Facing year-end cut off, U.S. banks scramble to extend COVID accounting relief Read More  NCUA Quarterly U.S. Map Review – Third Quarter 2020 Read More  Payments Trends In The Age of Coronavirus Read More  The lasting impact of COVID-era audits Read More   Regulatory and Accounting Issues ...
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