Wednesday, August 27, 2014

From The Field: A Difficult Decision...

"Johnsie, a long-time member, came in yesterday to make a large withdrawal to get her car back.  Evidently her husband had been stopped over the weekend and was arrested for driving while impaired.
He's in the coop!
(that is not short for cooperative!)

She said she might be back in again to get the money to retrieve her husband , but she hadn't decided yet. 

The way she was talking he better start getting comfortable on that bunk."
reckon so!

Tuesday, August 26, 2014

There Comes A Time....

By George !!

"In a time of universal deceit - telling the truth is a revolutionary act."

- George Orwell

Monday, August 25, 2014

Hike The Hill-arious...

The National Credit Union
Lampoon Movement? 

"Above all else in setting next year's Congressional, legislative goals, we should seek parody with the banks."

Well, guess that...

Sunday, August 24, 2014

Aggravated Assaul.....?

"Don't you ever smile?"
"I am smiling!"
There is nothing wrong with an examiner, that trying to reason with him won't aggravate!

Saturday, August 23, 2014

The Devil Is In The Delicti...

But my intentions were good !!


Friday, August 22, 2014

They Need To Be Pampered Sometimes, Too...

The Original "Contingency Plan"

Someone recently told me with great earnestness that: 

"Politicians and diapers have one thing in common!"

"Both should be changed regularly....

Thursday, August 21, 2014

On A World Of Religious Conflict....

Man made?
In God's image?

Last time I checked, God was not an Episcopalian, a Methodist, a Quaker, a Muslim, a Presbyterian, a Catholic, a Jew, a Buddhist, a Mormon, nor a Baptist....


     ... or did I miss the

Wednesday, August 20, 2014

The Wall Street Big Bank Monopoly....

"Still hoggish after all these years..."
- Paul Simon



Ever seen the card which is "top of the wallet" in every Wall St. bankers pocket?

Tuesday, August 19, 2014

Only One Word For It....

"We can't fix it,
if you don't tell us about it."
NCUA's proposed risk-based capital (RBC) rule has drawn a lot of "fire and fury" from many quarters - and will probably draw a whole lot more before the process is finished!

Was trying to think of the one phrase, the one word which might best describe the high level of anger and frustration which the proposed RBC rule has generated across the Country.

Perhaps the adjective which best captures how most folks view the RBC rule - and those who drafted it - is...

Monday, August 18, 2014

Payday Lending: Compounding A Problem...

When folks talk about human intelligence, quite often the first name mentioned is Albert Einstein, the original "Master of the Universe", with the theory of relativity - E=mc2 and all that.

Some may not know that Einstein was also financially shrewd and astute, famously noting that "the eighth wonder of the world is the power of compound interest".  It does seem somewhat miraculous how quickly compound interest can increase a pool of savings.

A great "rule of thumb"  for estimating growth
Fast money... !!
related to the compounding power of interest is called "The Rule of 72".  If you know the interest rate on an investment, then divide it into the number "72" and the answer will tell you approximately how many years it will take to "double your money" at that interest rate. Here's an example - an investment earning 12% will double in value in 6 years (72/12 = 6).  Equally an investment earning 9% would be worth twice as much in 8 years (72/9 = 8). Got it?

But perhaps a better example of the power of compound interest is to look at the growth in dollar terms. If that long lost, rich uncle had invested $10,000 at a 12% return (quite possible in a well-selected growth stock portfolio) for you when you were 10 years old, how much money would you have accumulated when you were ready to retire? Go ahead, take a guess!

Collecting pictures of
Ben Franklin!!
Well, let's see how it adds up.  It's going to double in value every 6 years (72/12 = 6).  So, at age sweet 16 (got the fund at age 10 and 6 years later you are 16!) the value has doubled to $20,000 and at age 22 ( 6 more years later!) it has doubled again to $40,000! Fast forward: age 28 = $80,000; age 34 = $160,000: age 40 = $320,000; age 46 = $640,000; age 52 = $1,280,000; age 58 = $2,560,000; age 64 = $5,120,000!!! Would make for a nice retirement - right!  Even at 8 or 9%, you would be sitting on a cool million dollars or so!

But according to Einstein, everything is relative....!!! 

So, if compounding "upward" on savings is "the eighth wonder of the world" for wealth building; then what should we call....