How 11 industry-leading credit unions have responded to COVID-19

first_imgLeading a credit union – or any organization – has perhaps never been more difficult than with the onset of the COVID-19 pandemic. And, in the case of credit unions, perhaps demonstrating leadership in financial services has never been more critical.We asked the eleven members of CO-OP’s Board of Directors, leaders of prominent credit unions across the country, to share their perspectives on how they have responded to COVID-19. All of them, as you might expect, deferred enormous credit to their employees for rising to the challenge and acting as #CreditUnionHeroes during these uncertain times.Perspectives from the CO-OP Board of Directors:On the member front, we split into project teams and quickly rolled out parts of a relief package. We implemented Skip-A-Pay for consumer loans and credit cards, modified mortgages, ramped up emergency relief loans, slashed late fees and NSF fees, and tweaked mobile deposit limits. On top of all that, our Foundation identified nonprofits in the community that were making immediate impact, and provided them with nearly $700,000 in grants. – Chuck Purvis, President & CEO, Coastal FCU (Board Position: Chairperson) continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Ardmore CEO: A second round of strong tanker rates likely

first_imgThe company’s MRs earned $19,300 per day compared to $17,700 in the prior quarter, while its chemical tankers earned $19,700 per day compared to $14,300 in the prior quarter. The fleet growth is expected to be limited in the upcoming two years staying at around 1.7 and 1.8 percent in 2020 and 2021 respectively. As a result of robust tanker demand, the rates in the second quarter have been rising even further, with MR voyages being book at $ 24,000 per day, with 55% of fixed for the quarter. Source: Ardmore “Based on these levels of oversupply, approximately 20% of the world tanker fleet could be committed to floating storage by the end of June, which is unprecedented. Floating storage is expected to rise rapidly as a practical and viable option,” Paul Tivnan, Chief Financial Officer of Ardmore Shipping, said in a conference call. The depleting on-shore oil storage capacities are expected to be capped by mid-May, according to the estimates from the International Energy Agency (IEA). IEA estimates that there are approximately 100 million barrels of available operational capacity in storage as of the end of April. A global oversupply of oil resulting from lower demand due to the COVID-19 pandemic and high production level has seen the unprecedented shortage of storage capacities translating in high rates for floating storage. “When an economic recovery does occur, oil demand would rise with it, with oil products available but in the wrong locations and a significant portion of the world tanker fleet still tied up in storage. This, we believe, could result in potentially a third round of strong rates,” he said. “In particular, if and when the oil market reaches max capacity for shore oil storage, we may enter a new and potentially more volatile phase of the tanker market, and if and when oil demand rebounds with an economic recovery sometime in the third quarter as the IEA are forecasting, we would expect more demand-driven volatility, potentially carrying into the winter.center_img The MR order book is at an exceptionally low, with 173 product tankers on order and with around 80 MRs over 23 years old, which will be the likely candidates for scrapping. Ardmore reported a net income of $6.5. million for the first quarter of 2020, compared to a net loss of $9.2 milion in Q1, 2019 amid strong MR charter market. The net loss for the three months ended March 31, 2019, includes the loss on the sale of the Ardmore Seamaster of $6.6 million.  Tanker owners have been reporting high earnings for the first quarter of this year amid soaring rates increasing by the week as demand for tanker storage shoots up. According to Ardmore’s CEO Anthony Gurnee, under such market conditions, the value of floating storage could go extraordinarily high resulting in the second round of strong tanker rates. “And most recently, we’ve booked voyages as high as $72,000 a day. So clearly, the market has been building over time. Any increase in TCE performance goes straight to the bottom line with every $10,000 a day increase in TCE performance adding $90 million to earnings and cash flow annually,” he added. Gurnee said that over the past three weeks the company’s MR voyages in progress have been earning $28,200 per day. The company has 25 vessels in operation, including 19 Eco MR tankers and six Eco-Design IMO 2 product / chemical tankers.last_img read more

Man United’s summer 2014 transfer window in GIFs

first_img Man United signed Radamel Falcao on loan 1 While their on-pitch endeavours are leaving a lot to be desired, off it Manchester United had a lot more to shout about as the club lavished a reported £152m on new players this summer.It initially looked as though the Red Devils had learnt their lessons from 12 months ago, when Marouane Fellaini was the only major signing, but soon things went quiet at Old Trafford before Ed Woodward went into overdrive, seemingly signing every player placed in front of him. For a ruddy fortune.Below is how United’s summer transfer window played out, in GIF form…Last summer’s transfer business was far from ideal…But this year Ander Herrera actually signs – real representatives this time and everything!Luke Shaw snubs Chelsea for Old Trafford. £30m deal, boom. Business is getting done early, there’ll be no mad last minute dash this year!Bring on the next signings. Over to you, Ed Woodward…Never fear, Ed says we’ll spend big…Arturo Vidal? To Man United? Can it be?Club announcement. Manchester United are proud to unveil… Marcos Rojo.But hang on. Angel Di Maria has been signed for a British record fee?!Transfer deadline day. Reinforcements needed. Wake up to reports that RADAMEL FALCAO could be on his way!Daley Blind arrives from Ajax. A player who can defend?FALCAO SIGNS!Man United fans, are you pleased with the club’s work during the transfer window? Comment below…last_img read more

It’s one happy family in `Big Love’

first_imgJeanne Tripplehorn and I chatted this week at the Chateau Marmont and recalled a telephone interview we had done a few summers earlier for a magazine piece on the “Big Love” star. “I had so much caffeine that day,” she said a bit apologetically. “I think I was talking a mile a minute.” She was a great interview and had at that time recently debuted in the hit HBO series, on which she plays one of Bill Paxton’s three wives in this drama about a family that practices a type of polygamy. Jeanne burst onto the scene in the first half of the 1990s in a succession of high-profile movies: “Basic Instinct,” “The Firm” and “Waterworld.” She went on to other films, took some time off to raise her son and is now back in a big way as Barb Henrickson, Paxton’s “first wife.” Ginnifer Goodwin and Chloe Sevigny play the other wives. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREWhicker: Clemson demonstrates that it’s tough to knock out the champ“I am all-across-the-board happy with this job because I love going to work and I love working with Ginny and Chloe. We stay in touch. I think it shows and I think people pick that up. I don’t think we could do it if we didn’t relate to each other and have great chemistry and a great rapport.” The show was due to begin filming its third season soon but the writers strike has postponed production. “I knew there was no way were were going to be able to get around the strike,” she said. “A lot of shows were stockpiling scripts but we just couldn’t do that. They are writing literally until right before we step in front of the camera. … I think that’s what makes it so palpable and tense because, as actors, it keeps us on our toes.” Jeanne recently completed her role as Jacqueline Bouvier Kennedy in the film version of “Grey Gardens” about the former first lady’s aunt and first cousin who lived together in a 28-room mansion in squalor and almost total isolation. “(`Big Love’) is opening me up to more roles and more opportunities,” she said. “But I’m completely satiated creatively working on `Big Love.’ If I didn’t do anything else the rest of the year, I’m more than happy.” Alba will take on the role of mother Jessica Alba, whose most recent film, “Awake,” did a big belly flop at the box office, will be getting a big belly herself in the coming months. The actress and her boyfriend, Cash Warren, are gonna be parents. According to People.com, the couple are expecting a baby in late spring, early summer. The pregnancy will likely result in Alba postponing what was to be her Broadway debut next summer in a revival of playwright David Mamet’s “Speed-the-Plow.” Britney calls in sick on deposition day Well, let’s hope motherhood goes smoother for Alba than it has for Britney Spears. Yes, it’s time for As Britney’s World Turns. On Wednesday, our damsel of a mess was supposed to meet with ex-hubby Kevin Federline’s attorney to give a deposition. But Britney did not show up, claiming illness, according to TMZ.com. The ladies of “The View” discussed Britney and her Starbucks habit. My ears perked up thinking perhaps they read this column’s Tuesday item on the Brit ban from at least one L.A. Starbucks. But no, one of them said she read that Britney’s diet of Starbucks Frappuccino and cigarettes is making her sick. So maybe that’s why she missed the depo. A Mocha Frap overdose! For more celebrity news, go to blogs.dailynews.com/hollywoodjoe and blogs.dailynews.com/outinhollywood160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img