...Annotated Bibliography Trends in my Profession: Credit Unions Teresa Watkins February 26, 2016 NAICS Code for Credit Unions 522130 It is important for my organization to have the ability to provide online services to our membership. Most importantly for convenience, online services allow members to manage their accounts, conduct transactions, and stay informed of their account status. We must remain competitive, as there are many credit unions to choose from. We can begin with creating a brand that is unique; one that is associated with education, customer service, excellence, and empowerment. Annotated Bibliography Lucas, P. J. (2000). Where Do CUs Really Lag? Service To Women. Credit Union Journal, 4(50), 4. This article explains how credit unions are behind the curve in understanding of the power of marketing to women. Studies listed show that women are more likely than men to use the services of their financial institution than a brokering firm. Credit Unions can use the information provided in this article which explains that women are educated, equally compensated, and more willing than men to change to a financial institution that provides the services they are seeking. Studies show that call inquiries into credit unions are more from women than men. This study and others are from Female Demographics. There is another study to support the findings in this article by Raddon Financial Group. The information provided was helpful in understanding why marketing...
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...population. Microfinance is definitely not something that has come recently but has a very long history, probably going into the 18th century. It is that, only off-late microfinance has been formalized, regulated and controlled. It is almost since the 16th and the 17th centuries that microfinance is juxtaposed to commercial and pilot banking. Microfinance is a powerful intermediation between micro savings and micro credit. Microfinance, over a period of time has taught a number of powerful lessons. First among these lessons is the fact that local initiatives based on the concept of self-help are tremendously powerful and can initiate change that can actually bring out a large number of people from below the poverty line and add trust to national and global economies. One another important lesson is that of the viability of small enterprises, both form and non-form based and micro-financial institutions is intertwined and are directly related to each other. Last but not the least is that continual access to financial services particularly that of savings and credit over sustained...
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...The School Environment Case High School is located in Sparks, NV. This school is a four-year public high school which serves approximately 2,200 students, making it the largest of the comprehensive high schools in the district. Reed High school had been accredited continuously by the Northwest Association of Schools and Colleges. There are many environmental and contextual factors that effect Case High School as well as the community needs surrounding the school. Community Facts The city of Sparks was chartered in 1906. . This city is located in Washoe County, Nevada and was established in 1905 and sits just east of Reno. The most recent census states the population to be 90,264. It is a sister city to Reno, NV, being right next door. The community relies on much of its revenue from the gaming industry. However, recently the city of Sparks has expanded its work force by bringing in small tech firms which helped by expanding the warehousing industry. There has been enormous growth during the past twenty years. In 1970 the population was 28,702, in 1980 in was 53,230, in 1998 it was up to 61,560 and currently is climbing towards 100,000. Due to low wages earned in the gaming industry, often jobs are not stable and employees are far from earning livable wages. Many of the families are transient and move from city to city in search of higher paying wages. This effects the lives of the students that attend school. Often the students at Case High School may move several times...
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...FEDERAL RESERVE • In 1913 the Federal Reserve Act was passed, establishing reserve requirements for those commercial banks that chose to become members. • There are 12 Districts across America • It earns most of its income in the form of interest on its holding on US. Government securities as well as providing services to financial institutions. • The income earned is transferred to the Treasury • It regulates commercial banks and conducts monetary policy, adjusting the money supply to achieve full employment and price stability ( low inflation) • Has five major components o Federal Reserve District Banks o Member Banks o Board of Governors o Federal Open Market Committee o Advisory Committees Federal Reserve District Banks • Federal Reserve District Cities: o 1. Boston, Massachusetts o 2. New York, New York (Most important District City) o 3. Philadelphia. Pennsylvania o 4. Cleveland, Ohio o 5. Richmond, Virginia o 6. Atlanta, Georgia o 7. Chicago, Illinois o 8.St. Louis, Missouri o 9. Minneapolis, Minnesota o 10. Kansas City, Kansas o 11. Dallas, Texas o 12. San Francisco, California • Commercial banks that become members must purchase stock in the FED • Each District has 9 members o 6 are elected by member banks in which 3 are professional bankers and 3 are engaged in business o The remaining 3 are appointed by the Board of Governors o All nine directors appoint their Fed district bank president • District banks facilitate...
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...Consumerism and the Impact of Social Class “People in a consumer society consume to improve their quality of life; there are costs associated with this practice (financial, time, ecological, societal and human) for the individual and the collective” (McGregor). Associated in this piece is the concentration in the belief of consumerism’s affect on the societal structure in terms of the social class standards, between lower, middle, and upper class sections. The dependent variable is consumerism; the rise in spending and its involvement and impact in the economy and social standards of today’s society. Independent variable is the focus of socioeconomic status and social class; concerning the idea that wealth allows greater amounts of consuming, however the lower class strives for similar status in the material and nonmaterial goods. Factors that provide consumerism in society and the economy are the buying of consumer goods, which has expanded in recent decades to national and global lengths. Consumerism is said to be the reason that the U.S. had turned citizens into shoppers, making Americans less free to the economy and the market. Globalization; the process of goods and services over national boundaries, is a rising factor, due to the buying, selling and networking of products globally. Countries like the U.S. China have benefitted by the globalization, but also have impacted their society and culture, from the influence of cultural differences, negatively and positively...
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...studied. We found that financing options for SMEs are numerous but access to these funds has been difficult inspite of several government initiatives. We also found that the Small and Medium Industries Equity Investments Scheme (SMIEIS) fund lacks standard guideline for fund disbursement, the unregulated informal finance institutions finance the SMEs much more than the formal sources and the informal sources make up more than half of the SMEs’ mix of funds. It is recommended that the informal source of financing is a potentially important source of micro financing. Savings in them should be further encouraged through regulation, government intervention by way of active participation of community and development banks in local business associations. SMEs should consider all financing options that maximize the value of the business enterprise. 1.1 INTRODUCTION The significant role Small and Medium Scale Enterprises (SMEs) play in economic development process has been well documented. Studies have been conducted on SME management, business planning and to some extent on venture creation but this paper focuses on financing options in Nigeria. This makes this paper imperative as it re-evaluates the existing financing alternatives and the role government plays in...
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...Bank, German Agency for Technical Cooperation, World Bank): refers to a project being undertaken by the above bodies to provide financial services to the rural dwellers to enhance development. * Credit risk: This refers to the degree to which it is likely that a borrower or debtor may not repay a loan or debt. It also means a particular borrower or debtor perceived by a lender or creditor as being particularly not likely to repay a debt. (Microsoft Encarta 2007). | | | INTRODUCTION Poverty is one of the problems faced by the people living in the rural areas and this largely affects their lifestyles both socially and economically. Along with poverty, many other social problems or issues can be pointed out including unemployment, lack of education, lack of proper governance and over population. These problems are associated with poverty and most of the time regarded as causes or effects. In government’s bid to eradicate poverty from the rural areas, it adopted strategies and one of such strategies is microfinance. Microfinance involves the application of innovative methodologies that make financial services available to relatively poor households and microenterprises. Microfinance can also be termed as the practice of providing financial services including micro credit, micro savings and micro insurance to poverty stricken or poor individuals, such that they are assisted to collect large sums of money in order to expand their choices and help them reduce the risk faced...
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...3 Problem Statement ……………………………………………….........................................4 Objectives of the Study ……………………………………………………………………..5 Research Problems ………………………………………………………………………….5 Significance of the Study …………………………………………………………………...5 Literature Review …………………………………………………………………………..6 Methodology …………………………………………………………………………………. Scope and Limitations ……………………………………………………………………...7 Chapter Outline …………………………………………………………………………….8 References…... DEFINITION What Is Microfinance? Microfinance, according to Otero (1999, p.8) is “the provision of financial services to low-income poor and very poor self-employed people”. These financial services according to Ledgerwood (1999) generally include savings and credit but can also include other financial services such as insurance and payment services. Schreiner and Colombet (2001, p.339) define microfinance as “the attempt to improve access to small deposits and small loans for poor households neglected by banks.” Therefore, microfinance involves the provision of financial services such as savings, loans and insurance to poor people living in both urban and rural settings who are unable to obtain such services from the formal financial sector. Microfinance encompasses the provision of financial services and the Management of small amounts of money through a range of products and a system of intermediary functions that are targeted at low income clients. “Microfinance refers to provision of small loans...
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...MICROFINANCE IN GHANA ..............................................................3 1.3 THE NEED FOR MICROFINANCE IN GHANA................................................................4 1.4 MICROFINANCE CLIENTS IN GHANA...........................................................................5 2.0 PROFILES OF MICROFINANCE APEX BODIES IN GHANA................................... 5 2.1 Ghana Co-operative Credit Unions Association (GCCUA).....................................5 2.1.1 Some Current Performance of GCCUA.............................................................. 6 2.1.2 Outstanding Challenges and Future Resource Requirements of CUA ........ 6 2.1.3 Summary of Credit Unions Annual Performance ............................................. 6 2.2 GHANA CO-OPERATIVE SUSU COLLECTORS’ ASSOCIATION (GCSCA)..................7 2.2.1 Some Current Performance of GCSCA .............................................................. 7 2.2.2 Outstanding Challenges and Future Resource Requirements for GCSCA .. 7 2.2.3 PERFORMANCE COMPARISON OF GCSCA TO CUA AS AT OCTOBER 2007.. 8 2.3 ASSOCIATION OF FINANCIAL NGOs (ASSFIN) ............................................................8 2.3.1 Some Current Performance of ASSFIN ................................................................ 9 2.3.2 Outstanding Challenges and Future Resource Requirements for ASSFIN .... 9 2.4 GHANA COOPERATIVE COUNCIL (GCC) ..................................................................9 2.4.1 Some Current...
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...It is true what many say, “money makes the world go round”. Between 1775 through 1791 to finance the war America printed the first paper currency know as “continentals.” Prior to this America relied on the barter system which, made fighting almost impossible. Welcoming the bills and foregoing bartering lead to inflation. The inflation was mild at first however is accelerated rapidly as the war progress. Eventually, people lost faith in the notes and they quickly became worthless. This would lead to three failed attempts to decentralized US Banking in an effort to restore trust and avoid economic disaster, after the failed attempts, The Federal Reserve Act was established in 1913 by Congress. This, at the time secured and stabilized the nation’s economy. From December 1912 to December 1913, the proposal underwent heated debates, a lot compromising, molding, and reshaping. By December 23, 1913, when President Woodrow Wilson signed the Federal Reserve Act into law. This was the first accepted decentralized central bank that balanced the competing interests of private banks and populist sentiment. The Federal Reserve or the “Feds” has the authority to make bank loans and back the notes printed. The purpose of the Federal Reserve System is to regulate banks and to manage the amount of money that is accessible within the economy. The Feds uses two of its tools to accomplish this, one, it can change the interest rates on the money it lends to banks. A higher interest rate...
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...SCIENCE DEGREE OF MAKERERE UNIVERSITY. TABLE OF CONTENTS Contents CHAPTER ONE 4 INTRODUCTION 4 1.0 INTRODUCTION 4 1.1 BACKGROUND TO THE STUDY 4 1.2 STATEMENT OF THE PROBLEM 4 1.3 THE AIM OF THE STUDY. 5 1.4 OBJECTIVES OF THE STUDY 5 1.5 RESEARCH HYPOTHESIS 5 1.6 RESEARCH QUESTIONS 5 1.7 LIMITATION OF THE STUDY 6 1.8 ORGANIZATION OF STUDY 6 1.9 SIGNIFICANCE OF THE STUDY 6 CHAPTER TWO 7 2.0 LITERATURE REVIEW 7 2.1 STRUCTURE AND PERFORMANCE OF RURAL AND MICRO FINANCE INDUSTRY 7 2.2.0 RURAL AND COMMUNITY BANKS (RCBS) 9 2.2.1 SAVINGS & LOANS COMPANIES 10 2.3 NON-GOVERNMENTAL AND COMMUNITY-BASED ORGANIZATIONS 10 2.4 INFORMAL FINANCE 11 2.4.1 MONEYLENDERS 11 2.4.2 TRADERS 12 2.5 GOVERNMENT CREDIT PROGRAMS 12 2.5.1 INTEREST RATES 13 2.5.2 SECURITY 13 2.5.3 THE NEED FOR THE RURAL CREDIT 14 2.5.4 RURAL BANK OPERATIONS 16 3.0 METHODOLOGY 18 3.1 THE RESEARCH DESIGN 18 3.2 POPULATION 18 3.3 SAMPLE AND SAMPLING TECHNIQUE 18 3.4 INSTRUMENT 19 3.5 DATA COLLECTION PROCEDURE 19 3.6 DATA ANALYSIS 19 CHAPTER ONE INTRODUCTION 1.0 INTRODUCTION 1.1 BACKGROUND TO THE STUDY If current agricultural trends continue, by the year 2020 sub-Saharan Africa’s food shortage will...
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...Module 4 Review Guide The sum of the production of goods and the supply of services in a given country is defined by the country's Gross National Product, or GNP. Many factors can affect the gross national product. Here are five major ones: 1. Population expansion or contraction - population growth can increase both GNP and per capita GNP. 2. Entrepreneurism - all the inventions associated with computers and other technological developments, have fueled a huge expansion in the GNP. 3. Trade – global trading increases GNP 4. War - Wars such as World War II destroyed much of Europe's economic infrastructure and drove down the GNP of the countries involved. However, for countries like the U.S. and much of Western Europe, which today supply military arms, war can have a positive effect on the GNP. 5. Natural Resources - The discovery of oil is a classic case of natural resources driving up the GNP of a region such as the Middle-East. Similarly, in rain forests around the world, harvesting trees has had a positive impact on the GNP. A business cycle is similar to the movement of a roller coaster. The four phases of the business cycle are (1) expansion, like the upward climb of the roller coaster. During the expansion phase, Gross Domestic Product, or GDP, is increasing. Usually, this also means that the rate of inflation is increasing while the unemployment rate is decreasing. The momentary pause at the summit is the (2) peak, where production reaches the highest current level. This...
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...rather, they are assigned to stores on a rotating basis. Two employees work the day shift but only one works the night shift from 10:00 p.m. to 7:00 a.m. Ms. Cooper manages the company’s overall operations from head office. Customer satisfaction has always been important to Mary and she visits each store at least once a week and spends several hours serving customers and working alongside her employees. This gives her the opportunity to evaluate customer satisfaction and assess the quality of service provided by the employees. Recently, Mary has noticed an increase in the number of credit card transactions declined by the bank. An analysis of the reasons given by the card issuers showed that several cases occurred after the customers had disputed the transactions. Mary has asked you, in your capacity as an internal auditing expert, to analyze the situation and inform her of your findings. Here is a description of sales for each of Ms. Cooper’s stores: 1. All sales are recognized on a cash basis, and the company accepts major credit cards and debit cards. 2. Each store has its own cash register which records all transactions. The files are uploaded once a week to the central system server located at the company’s head office. 3. At the head office sales data from each store are consolidated, and the files are then archived and permanently stored. 4. At the end of each month, the bank sends an electronic statement of all credit card and debit card transactions. This...
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...Section 1 – Executive Summery I am planning on purchasing the Great Outdoors Experience Hotel located on 1529 US 9, Schroon Lake, NY 12870. It is already an established lodging facility built in 1887. It has been renovated multiple times by prior ownership and will need only minor repair (see plan). I would like to provide a homey vacation atmosphere for the outdoor enthusiasts enjoying all seasons in the Adirondacks. The State of NY has awarded the Pharaoh region almost 10 percent of development dollars, which will roughly be around $7.1 million dollars. It was stated and recognized that this area is well known and frequently visited by travelers due to its many diverse hiking trails, pond and lake clusters, and skiing slopes. The Pharaoh region already has multiple chain hotels and a handful of small Inn’s, I want to offer a unique combination of hotel and Bed and Breakfast feel. With the hotels 50 accommodating rooms, convention room and private pub, I will be able to turn it into a successful Inn. Shopping and hospitals are located about 15-20 miles from the property for those who enjoy a shopping experience or for those who might be in need of medical assistance. I will offer and serve breakfast which will be complimentary and dinner at extra charges. Kayak and ski rentals will be available upon request as well as a local trained and certified hiking guide for those guests who are not familiar or comfortable venturing...
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...1. Tutorial #1 2. Describe the difference between a financial asset and a tangible asset. A financial asset is an intangible asset whose value is derived from a contractual claim, such as bank deposits, bonds, and stocks. Financial assets are usually more liquid than other tangible assets, such as commodities or real estate, and may be traded on financial markets. In contrast, a tangible asset is an asset that has a physical form. Tangible assets include both fixed assets, such as machinery, buildings and land, and current assets, such as inventory. 3. Describe the two principle roles of financial assets. The principal economic function of financial assets are: (1) to transfer funds from persons who have surplus funds to those who need funds to invest in tangible assets( e.g. mortgage funds lending to homebuyers); (2) transfer funds in such a way as to redistribute the unavoidable risk associated with the cash flow generated by tangible assets among those seeking and those providing the funds (seekers of funds ask others to share the risks in their undertakings). 4. a. Explain the three factors that have led to the globalization of financial markets. Globalization has led to an expansion and integration of global financial markets. Prior to the 1980’s, the US financial market was the largest in the world but with the advent of new technologies and globalization, many markets have emerged and indeed the majority of them have been integrated to form a global...
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