Succeeding in a changing market

first_imgMarket on rates.  Rates and pricing is not what will set you apart.  Your WHY is what sets you apart. Remember that it isn’t about loans and checking accounts. Try to be all things to all people.  This means your credit union may serve a large field of membership, but there is a smaller group of consumers within that market that you are best-suited to serve. Look at marketing as an expense.  Done effectively, marketing has one of the greatest potentials for killer ROI of anything else your credit union can do from an execution standpoint. Look at members who have bad credit as undesirable.  A LOT of the population has less-than-stellar credit and it doesn’t mean they have necessarily been careless with their finances.  Job loss, medical bills, divorce, death of a spouse…so many circumstances lead to poor credit. Additionally, serving these “riskier” borrowers is a great way to solidify lifelong relationships for the credit union AND earn a higher margin.  Look at employees as something to be tolerated.  Your employees are the number one biggest asset your credit union has at its disposal.  They are the people who form relationships with new members and take care of your existing members.  If they are happy and empowered, that will translate to the member experience.Make a merger your succession plan.  Mergers have their time and place and are often necessary, but it shouldn’t happen without careful consideration of the impact to members and employees.  Make sure the credit union has done all it can to foster talent and growth within the credit union so a succession plan is evident years in advance.Operate with the mindset of “this is the way we’ve always done it.”  As Tony Robbins said, “If you do what you’ve always done, you’ll get what you’ve always gotten.”  If you want to get somewhere different, somewhere better, you have to do something different to get there.DO NOTHING!  Some credit unions are so scared to try something new and fail so they sit back and do nothing while their credit union literally shrinks before their eyes.Give up.  The work you are doing is helping credit unions stay the superheroes of the financial services market.I love you credit unions.  Keep doing the great work you are doing in your communities, with your employees and for your members.   If you are anything like me, you love lists like Top 10 and others because they are easily digestible and great for immediate takeaways.  During a recent conference keynote, I gave a session on helping small credit unions learn how to succeed in a changing market. But let’s face it…the market is changing and it is affecting ALL credit unions.  In the presentation, I listed several DO’s and DON’Ts in adapting to a changing market that I believe are relative to every credit union, regardless of size.  And I am sharing them here…starting with the Don’ts because, well… I like to focus on the positive so that is the second in this series. As you read this list of DON’Ts, remember that you, credit union executive, are reading this article because you want to learn how to grow your credit union and serve members.  You love this industry, and you want credit unions to succeed. I LOVE credit unions as well and, while you might like what I have to say on this list, I am here because I share your love of credit unions and passion for helping them succeed.If you want to succeed in today’s market DON’T:Look at big banks and other credit unions to see what they are doing and copy exactly what they are doing.  You aren’t staying true to your mission and brand story with this strategy. 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Amanda Thomas Amanda is founder and president of TwoScore, a firm that channels her passion for the credit union mission and people to help credit unions under $100 million in assets reach … Web: www.twoscore.com Detailslast_img read more

Australia’s Woodside delays major LNG projects

first_imgBesides delaying final decisions on its large LNG growth projects to 2021, Woodside will also postpone most proposed exploration activities, reducing overall exploration expenditure by about 50 per cent to $75 million. The current uncertain global investment environment arising from the spread of COVID-19, combined with oversupply of crude oil and LNG, has led to significant decline in prices, requiring “decisive and swift action,” Woodside said. The company will reduce spending to about $2.4 billion. “These are extraordinary times, that no one could have foreseen, but Woodside enters this period of significant uncertainty with one of the stronger balance sheets in our industry and world-class, low-cost producing assets, which are resilient to commodity price fluctuations,” Coleman said. This includes an approximately $100 million reduction in operational spending and about 60 per cent reduction in investment expenditure to $1.7 – 1.9 billion. Woodside said it would continue finalizing commercial deals and regulatory approvals for Scarborough, Pluto Train 2 and Browse.center_img Woodside announced a number of measures on Friday which include an approximately 50 per cent reduction in spending for 2020. The company also noted that there would be some ongoing engineering work in preparation for final investment decisions on these projects. Australia’s Woodside is postponing final investment decisions for its Scarborough, Pluto Train 2 and Browse liquefied natural gas growth projects worth more than $50 billion in a response to the oil price crash and the COVID-19 pandemic. Responding to the COVID-19 outbreak, Woodside CEO Peter Coleman said all steps were being taken to “protect the wellbeing of those who work for and with us, guarantee energy supplies to customers and maintain value for shareholders”.last_img read more

USWNT vs. France odds: USA a slim favorite in 2019 Women’s World Cup quarterfinal

first_imgThe U.S. women’s national team faces perhaps its toughest test so far at the 2019 Women’s World Cup with a showdown against France with a bid in the semifinals on the line.Spain pushed the Americans to their limit in the round of 16, but a pair of goals on penalty kicks from Megan Rapinoe helped secure USA’s appearance in the quarterfinals for an eighth consecutive World Cup. Here are the betting odds for Friday’s quarterfinal matchup between the United States and France, including the moneyline, over/under and prop bets.USA vs. France odds: Who’s the favorite to win Women’s World Cup quarterfinal?To advance: USA -170, France +145USA moneyline: +125France moneyline: +220Draw: +220Spread: USA -1 (+400)Over/Under: 2.5 (u-144) The USWNT opens as both the favorites to advance and on the moneyline. Below are several prop bets for Friday’s match.Odds via FanDuel SportsbookUSA vs. France prop betsBetsOddsBoth teams scoreYes: -120 No: -116O/U 0.5 goalso-1450, u+770O/U 1.5 goalso-280, u+210O/U 2.5 goalso+118, u-144Double chanceFrance (W) and draw: -175 USA (W) and draw: -300 France (W) and USA (W): -300Draw no betFrance (W): +126 USA (W): -152First goal scorerUSAFranceAlex Morgan +410Eugenie Le Sommer +600Megan Rapinoe +500Kadidiatou Diani +750Carli Lloyd +550Valerie Gauvin +750Tobin Heath +550Delphine Cascarino +900Christen Press +700Gaetane Thiney +900Mallory Pugh +850Amandine Henry +1000Jessica McDonald +900Viviane Asseyi +1000Lindsey Horan +1200Emelyne Laurent +1200Rose Lavelle +1200Wendie Renard +1300Samantha Mewis +1200Elise Bussaglia +1600Allie Long +1400Amel Majri +2100Julie Ertz +1500Griedge Mbock Bathy +2300Morgan Brian +1600Onema Grace Geyoro +2900Crystal Dunn +2400Maeva Clemaron +3200Emily Sonnett +4500Charlotte Bibault +3700Tierna Davidson +4500Eve Perisset +4400Abby Dahlkemper +5500Aissatou Tounkara +5500Kelley O’Hara +5500Marion Torrent +5500Ali Krieger +6500Sakina Karchaoui +5500Becky Sauerbrunn +6500Julie Debever +9000No goal scorer +700Correct scoreScoreOddsFrance (W) 1-0+850France (W) 2-0+1500France (W) 2-1+1100France (W) 3-0+3600France (W) 3-1+2900France (W) 3-2+3700France (W) 4-0+10000France (W) 4-1+8500France (W) 4-2+10000France (W) 4-3+10000France (W) 5-0+10000Draw 0-0+750Draw 1-1+500Draw 2-2+1400Draw 3-3+8000Draw 4-4+10000Draw 5-5+10000USA (W) 1-0+650USA (W) 2-0+1000USA (W) 2-1+900USA (W) 3-0+2300USA (W) 3-1+1900USA (W) 3-2+3100USA (W) 4-0+6000USA (W) 4-1+5500USA (W) 4-2+8000USA (W) 4-3+10000USA (W) 5-0+10000 MORE: USWNT World Cup schedule, scoresWhile the U.S. has opened up as the betting favorite against the host nation France, it isn’t an overwhelming favorite like we’ve seen for most of the tournament.You don’t have to look far as to why bettors aren’t heavily backing the Americans like they have in the past. France enters Friday’s matchup ranked No. 4 in the world right behind England, Germany and the United States. That coupled with France’s home-field advantage and the USWNT’s lackluster performance against Spain in the round of 16 has the odds shockingly in the Americans’ favor, albeit ever so slightly.last_img read more