Party's Over....

TIME TO GO!

Happy Days Ahead....

Get Happy! 

[Who would object to that...?]

"... give me all you got don't hold it back!"

You're The One... !

Human Chemistry....

DOOK !

Couple of comments on the blog recently have referenced one of my alma maters ( had a rather "multi-faceted and checkered" academic experience!) - Duke University.

Duke is of course famous for basketball, but also enjoys a national reputation for academics and medicine.  Duke considers the university to be one of the "Southern Ivys" - as in league not poison - and hosts a highly distinguished faculty.   

Duke lost one of those highly regarded faculty members recently.  Dr. James Bonk taught chemistry at Duke for over 43 years, to over 30,000 students. He was definitely in the "legendary" category - tough, effective, fair, loved his students.

Let's just say the "chemistry" was right...

Perhaps the most famous and frequently told story abut Dr. Bonk dealt with four students, a critical final exam, and an all-weekend road trip of "spirited revelry" gone awry.  A tale of an 8:00 am Monday morning exam and four students, returning Sunday - "midnight plus some" - thoroughly devastated by hangovers and youthful exuberance contracted at a distinguished "ladies only" college in nearby Virginia. 

Well, it was like this ....

The solution? Bright idea, let's call Doc Bonk and tell him we had a flat tire and ask to reschedule the final exam ! They called Dr. Bonk; he listened to their story and agreed to the delay.  The students rejoiced at their salvation ! 

The following Friday the four students arrived for the rescheduled final and were given the test paper and placed in four separate classrooms.
The first question representing 5% of the grade was a relatively easy, straight-forward chemical equation and all the students relaxed.  They had survived; they had "dodged the bullet" of their weekend madness !

They turned to the second page of the exam which had the second question which represented 95 % of the exam score.  The question from Dr. Bonk was...

Tutu Go....

The Free Market Alternative...

* There can never be a "free market" unless there is a "fair market".

* There can never be a "fair market" unless there is a "free market".

Most folks don't seem to truly believe in the possibility and potential of a free and fair marketplace.  Many credit union leaders seem to think that when considering free and fair, you can't actually do both -  that in reality it generally becomes an "either/or" choice. 

Credit union cooperatives are the free and fair market leaders in consumer finance .... and there actually isn't another "honest horse" in the race!  (Like those odds, don't you?) 

But, we shouldn't overlook the need for credit unions to strongly and forcefully advocate for that free and fair marketplace - to visibly fight for and on behalf of the consumer - and to then consistently practice, in our operations, that which we preach!

Three To Two...

Funny Money.... The NCUSIF and The "OTR"

"The calculations NCUA annually performs to determine the Overhead Transfer Rate (OTR) and the Operating Fee are purely mathematical, free of subjective and political judgments, said Matz."

- NCUA Action Bulletin (January 21, 2016) [link]

If you believe this, I've got a little bridge 
in which you might like to invest...

The Overhead Transfer Rate (OTR)

represents the percentage of the total NCUA operating budget which is paid from the earnings of our cooperative, credit union-owned deposit insurance fund (NCUSIF).  

Since the NCUSIF belongs to credit unions, the responsible use of the earnings are also your responsibility. The NCUSIF is made up of your members' deposits; your credit union is responsible for maintaining the NCUSIF at required statutory levels - your credit union is subject to "additional assessments" when things go wrong. (The most recent additional assessments you paid were because the collapse of the Corporates bankrupted the NCUSIF.) Your credit union is also entitled to a dividend, if earnings aren't wasted.  Misspent NCUSIF funds come out of your members' pockets! 

Sure it's an asset!  Are you sure?

As management, you keep reporting the 1% NCUSIF deposit as an asset on your credit union balance sheet - as required by generally accepted accounting procedures (GAAP) and the Financial Accounting Standards Board (FASB). You and your Board "sign off" on your balance sheet each year as accurate... it's your fiduciary responsibility....

From The Field...

Creating a new tax deduction....

"Vita tax prep season for 2016 is finally over; the new "drop off" vs appointment system is working out pretty well.  Allows everybody to better schedule their work flow."

We had one couple tell us how much they enjoyed the new service.  They dropped off their tax info and went off and had a baby before coming back to pick up the return.

 
They said: "The timing was perfect, its a great service !"

Well ok, guess everyone's got to do something

while they wait, or does this actually mean...

Hit 'Em Up....

Just In Case You Didn't Bite

Last Time

(8-18-2013 post)

Try Another Kiss...

(especially after the 3:25 mark...)

Purple Rain....

There are Magical Moments in life!

Weep for those who have yet to discover that.... 


Experienced one recently in North Carolina on an extraordinary Spring day .... Purple Rain!



Wisteria is one of our most exotic Southern treasures. A native climber in the pea family, wisteria breaks forth at this time of year in extravagant displays of purple cascades. The flowers are actually small clusters of pods which are strung together much like a bunch of grapes.


Was out and about in those proverbial woods when a strong wind came up. Started hearing the sound of rain in the grass and began getting pelted by several large drops, which seemed unusual given the bright sunlight and almost cloudless sky... 

Amazingly "the shower" was of wisteria blossoms... a purple rain... and a most magical of moments! Felt like a...

Dress For Success.... Was This Actually Some Sort Of H.B.2 Protest?

Can't beat local, hometown newspapers as a source for unusual news, insights, and headlines.  Here's a recent example:

CROSS-DRESSER ROBS LOCAL BANK

Tuesday at approximately 5 p.m., the Suntrust Bank in Creedmoor was robbed by a male dressed as a female.

"This is a schtick up..."

The suspect was described as a black male , approximately 20-30 years old,  weight 135-150 pounds, 5-8 in height, with a thin build. 

Tellers at the bank described the suspect as "wearing a long, blue-jean dress with beige, scooped-necked, sleeveless blouse, red gloves, grey bedroom slippers, and a brunette wig, paired with alligator-skin pumps and matching clutch purse. "

Blackbeard?

"Accessories included pearl pierced-ear bobs, a mid-length, braided, gold-chain necklace, balanced with multi-metal wrist bangles in white gold. Rings included a blue-star sapphire bauble and faux silver signature band.  Mauve lip gloss, with complementary blush and eye-shadow highlights, accented the distinct look."

When questioned about the robbery, one teller volunteered that:  "It happened so fast that we didn't really have time to look, think or become fearful."


 "But, I can say that we were all completely appalled by...

FOM Letters From Boinkers: "Priceless"!...

Alice with a small b-oink...

It really has become an Alice-in-Wonderland world when the United States economy is considered "at risk of failure" (due to a soaring national debt, fiscal cliffs, chronic unemployment, and a disagreeable Congress), while the largest U.S. banks (the "TBTF" boys) are considered immune - and must be "protected" at all cost - from failure. 

Even credit unions must be taxed, according to

"Getting boinked!"

the bankers, or else American consumers will lose the right to be gouged, deceived, fleeced and humiliated - what a lost opportunity for the consumer !!    

"Curiouser and curiouser...!!!"

Here's what former N.C. Congressman Brad Miller had to say about this situation in the American Banker ....

Even Their Self-Interest Is Flawed...

"I admit to a flaw in my ideology.  I could not have believed that the self-interest of banks would not prompt them to better protect their stockholders."

- Alan Greenspan
Federal Reserve Chair on the 2008 Financial Collapse
Before the House Committee on Oversight and Government Reform
(10/23/2008)

Boink! Boink!

                                        

The only thing a pig looks after is itself, that's why...

Banking Up The Wrong Tree....

Yap! Yap! Ruff! Ruff !

Noted the article in CUTIMES (4/18/2016) where Rob Nichols, CEO of the American Bankers Association, was spouting off to the Chairman of the House Ways and Means Committee about credit union taxation [link].

[Really like the irony that the head banker is named "rob" - as in steal, gouge, loot, plunder, and pillage!]

"Fang" 
 The Howler-in-Chief

You'll note from the picture that Mr. Nichols possesses a personal set of fangs through which one might prevaricate - and "rob" certainly comes close in his little truth challenging epistle. 

But the ABA is nothing if not consistent in its unabated yapping about credit union taxation!  

Which leads to this question:

" How are a puppy and the "Howler-in-Chief" of the ABA different?"

From A Reader On the Right...

TEA PARTY, ANYONE?

... would point out the absence of a head here;
not sure if that is significant or not ???

National Campaign 2016: North Carolina: H.B.2 ... Third Potty Politics?

Well, if you haven't heard about North Carolina's new law - trumpeted as "H.B.2" (House Bill #2) - you must be living on Mars! 



Lots of emotion and vitriol!  Folks started out screaming and yelling at each other and have proceeded downhill from there in the dialogue.

The law caught most folks in North Carolina by surprise, as most of us didn't realize we "had a problem". Well, if we didn't, we certainly do now! So, stay tuned; it ain't goin' away!

But, for you "non-natives", you should know that the debate is not really about bathrooms! The issues in H.B.2 are a good bit more complicated than who's in the next stall! And besides, North Carolina has a long, long, long tradition of unisex bathrooms; it's part of our culture! 

Hopefully, those other H.B.2 issues will get resolved shortly so we can all get back...

National Politics 2016...!

VOTING IN THE DEMOCRATIC PRIMARIES...

A, B, C, or D ???

A)

B)

C)

... or....

T-Day....

A CAPITAL OFFENSE?

National Politics 2016...!

THE LEADING CONTENDER IN THE DEMOCRATIC PRIMARIES HAS BEEN

HILLARY CLINTON, WHO RECENTLY CLAIMED THAT SHE HAD RECEIVED MORE VOTES THAN ANY OTHER CANDIDATE OF EITHER PARTY!

WHILE THAT MAY BE TRUE, MS. CLINTON MIGHT WANT TO KEEP HER EYES ON A COUPLE OF OTHER VOTER TOTALS. FIRST, ALTHOUGH 8 MILLION FOLKS MAY HAVE VOTED FOR HER, OVER 6 MILLION DEMOCRATS DIDN'T - THEY VOTED FOR THE BERN!

PERHAPS EQUALLY IMPORTANT 20 MILLION REPUBLICANS HAVE CAST VOTES IN THE PRIMARIES COMPARED TO ONLY 15 MILLION DEMOCRATS. PROBABLY WOULDN'T CALL THE MOVING COMPANY JUST YET!

BESIDES, MR. SANDERS IS NOT THE WORST "BERNING ISSUE" MS. CLINTON CONFRONTS; SHE ALSO HAS THAT ALLEGED  CREDIBILITY PROBLEM WITH HER...

National Politics 2016...!

IT WOULD APPEAR FROM THE CONTINUING DRAMA COMING OUT OF THE REPUBLICAN PRIMARIES, THAT THERE MIGHT BE AN ELEPHANT ...

National Politics 2016...!

REPUBLICANS IN THE PRIMARIES HAVE VOTED OVERWHELMINGLY FOR A CANDIDATE WHO IS :

1)   a great businessman

2)   a billionaire

3)   a good negotiator

4)   been married more than once

5)   0ver 65 years old

6)   can fund his own campaign

7)   went to Wharton

8)   continues to live in his hometown

9)    has bad hair

So, let's give folks what they want and elect...

National Politics 2016...!

CONGRESS CONTINUES TO FIDDLE

 WHILE WASHINGTON...

National Politics 2016... !

ECONOMIC DISPARITY

"The French Aristocracy
 didn't understand ...

... the consequences.

... nor did the Russian aristocracy, nor the German aristocracy, nor did the Chinese... 

... nor did their supporting governmental bureaucracies…. 

Where is all this...

From the Field...

"When we arrived, Baskin-Robbins was desserted..."

National Politics 2016...!

DEMOCRATS ANNOUNCE TICKET FOR 2016! PAIR WILL CREATE FORMIDABLE TEAM IN THE FALL....

National Politics 2016...!

WHAT FAMOUS HISTORICAL EVENT REMINDS YOU OF A 2016 REPUBLICAN PRESIDENTIAL DEBATE?

... AND WHY?

National Politics 2016...!

Believe it is now time for the American people 

to demand

that our two political parties come together

 and put forward a compromise candidate...

National Politics 2016...!

THE NATION HOLDS ITS BREATH AS THE FOLKS IN WISCONSIN LINE UP TO CAST THEIR VOTES, AND PERHAPS DETERMINE THE FATE OF AMERICA...

Well-Heeled.... !!!!

CAN YOU COUNT TO...

.... never mind!

National Politics 2016....!

Tuesday, November 8, 2016.

DON'T KNOW ABOUT YOU,

BUT MANY FOLKS ARE AFRAID THAT THEY MAY END UP BEING FORCED

 TO VOTE FOR...

National Politics 2016...!

This year's presidential election has been quite a horse race!

It looks like it's going down to the wire! 

With the winner being decided ...

Going The Extra Mile... Create A Miracle !

Definitely a WOW !!

Cherry blossoms in the Spring in Washington, D.C. - an image instantly recognized and understood worldwide. 

An astounding display of grace and beauty amid the monuments and politics of the Nation's capital city!

What would you think if credit unions could link our image, "brand" our values, attach our purpose - in a highly positive way - to that globally recognized image of springtime in Washington ?  An impossible dream, you say?

An opportunity too rare; and, if available most certainly beyond the financial reach of any credit union.

Well, what if....

Wooo Whooo...

Hey, Syracuse, Crank up the bus...

CAN YOU COUNT TO...

... TWO!!!