This money-saving app never returns the interest its users earn – and it just raised another $11 million to do it

first_img 3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr by: Eugene KimDigit is a money-saving app that saw its fair share of controversy following its official release earlier this year.The way it works is pretty straightforward: its secret algorithm tracks your income and spending patterns, and every 2 to 3 days, automatically saves a small amount of money that you won’t even notice is missing.The money gets transferred to a separate Digit savings account, held in one of its partner banks like Wells Fargo or BofI Federal Bank. Users can also manually set their savings amount or withdraw their savings anytime they want.But what appears to have gotten some people boggled was the fact that the users don’t earn any interest on their savings. Instead, Digit takes all the interest that accrues and spends it on its operating costs. Its logic: users get free access to Digit and save money they normally would have spent elsewhere. continue reading »last_img read more

Does your brand touch your members?

first_imgCredit unions that invest in the long-term strategy of brand-building lead the pack when it comes to establishing deeper and more meaningful member relationships. Recognizing the intersection of ever-increasing consumer choice (both traditional and non-traditional) and subsequent consumer confusion, they elect to combat that with differentiation and clarity through brand positioning. In other words, they find a unique and authentic way to stand out from the crowd as the preferred consumer choice in their area.Often this is (initially) accomplished through elements like brand vision statements, employee messages and taglines. While these are vital components of building a brand, they fall short if the effort is left there. The question then becomes: does our brand actually touch our members?  Can and do your members see your brand in action? Do they witness it, see it, hear it and (hopefully) share it? Vision statements, employee messages and taglines are well and good but do they live beyond the paper upon which they are printed?For a brand to leap from paper to life, your credit union must operationalize it. This is best accomplished via a full-fledged journey mapping process. In journey mapping, your credit union’s leadership team (typically with the assistance of an outside facilitator) puts the words and spirit of your brand to paper, detailing exactly what the member experience will be from start to finish, in person, on the phone, in the drive-through, via email, etc. The journey mapping experience, once complete, leads to a hands-on member engagement program, unique to your credit union, its culture, membership, staff and community. Often, the member engagement program is given a unique name to help better position it in the eyes of credit union staff.Journey mapping is a rigorous process and similar to branding requires an “all hands on deck” approach. Your leadership team must come to the journey mapping table ready to honestly and aggressively tackle tough questions that can go to the very core of your credit union’s member philosophy. More importantly, once voices are aired, discussions had and a consensus reached, your leadership team must leave the journey mapping process fully committed to the plan and ready to actively support it. Any member engagement plan risks fraying if its leaders are not committed and other staff see this, tell co-workers and similarly fail to commit.Once in place, your credit union must then actively and without fail train staff to its member engagement program. Failure to effectively train over the long-term runs the risk of delegitimizing the member engagement program in the eyes of staff and, in turn, for your members.As the natural evolution of a branding effort, the commitment to journey mapping and creating a member engagement program successfully operationalizes your brand, elevating it from the qualitative art of wordsmithing to the quantitative science of measurable member interaction. Your brand, once the inhabitant of paper, leaps to life for your members and potential members to touch, witness and remember. 36SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Mark Arnold Mark Arnold is an acclaimed speaker, brand expert and strategic planner helping businesses such as credit unions and banks achieve their goals with strategic marketing insights and energized training. Mark … Web: www.markarnold.com Detailslast_img read more

​KLP adds 12 to blacklist on environmental and social grounds

first_imgNorway’s primary municipal pensions provider KLP has announced it is adding 12 companies to its investment blacklist this month on environmental and social grounds, and re-admitting four firms that are no longer falling foul of its guidelines.The NOK765bn (€72.6bn) fund revealed it has sold off NOK38m (€3.6m) of investments in the mostly small firms being rejected from its investment universe from this month for coal, oil sands, gambling, alcohol and environmental damage reasons.The new exclusions include Jardine Strategic Holdings, Jardine Matheson Holdings and Cimic Group because of coal business, along with Japan Petroleum Exploration for oil sands involvement.Last year, KLP tightened its divestment criteria on oil sands, selling the shares and bonds of five companies with activities in the fossil fuel business as a result. Landing International Development and Universal Entertainment Corporation are two of the five firms being newly rejected by the Norwegian fund for gambling activities, while BJ’s Restaurants and MGP Ingredients have been banned for alcohol business.ElSewedy Electric has also been divested on the grounds of serious environmental damage, regarding a dam and a hydroelectric plant being built in Tanzania, said KLP.The four companies being brought back into the fold include Aecom and Raytheon, because they are no longer involved in the production of components for nuclear or cluster weapons.Petrobas ban reversalKLP also said its exclusion of Petrobras on the grounds of corruption is being reversed, with Texwinca Holdings – which was excluded for human and workers’ rights –  no longer banned since the factories affected were closed down.These re-inclusions have resulted in new investments of NOK140m, the fund said, though it added that Texhwinca was currently outside its investment universe anyway.Asked whether KLP expected the new divestment decisions to influence the corporates’ future behaviour, Jeanett Bergan, head of responsible investment at KLP, told IPE the potential impact of such blacklistings depended on the nature of a firm’s involvement in the business activity being rejected.“As this is a product-based criterion, it really depends if the company’s core business is what excludes them – if so, then it will be hard for us to have any influence, but if it’s a minor part of their business, or if they are transitioning away from coal, for example, it could make a difference,” she said.“In the main KLP divested from certain business sectors because it believed these had negative effects on society and therefore did not want to earn money from these areas”However, in the main KLP divested from certain business sectors – such as alcohol, tobacco and gambling – because it believed these had negative effects on society and therefore did not want to earn money from these areas, Bergan said.Risk management framework evolvesSeparately, KLP said it had recently amended the part of its responsible investment guidelines on how its assessed risk in investing and whether to exclude a company.“We are developing a new overall framework for risk management and due diligence in our investments now, and the change we have adopted in the exclusion criteria is part of this work,” Bergan said.The new paragraph allowed KLP to exclude companies on due diligence grounds, with a combination of country risk, industry risk and corporate risk allowable as grounds for exclusion, she said.The thinking behind this, she said, was that while investors and companies had a due diligence obligation under the UN’s guiding principles for business and human rights and other norms, certain countries and markets which involved higher ESG risk had a lack of transparency and freedom of speech – which hampered monitoring of potential breaches.“Saudi Arabia is just such a market and we will probably use this new criterion in eventually evaluating which companies to invest in,” Bergan said.Since last year, KLP has been assessing Saudi Arabia as a potential investment location, with the Gulf state having been included in the MSCI Emerging Markets index from July 2019.This assessment has not yet come to a conclusion, Bergan told IPE.To read the digital edition of IPE’s latest magazine click here.last_img read more

Leviathan partners sign condensate sale deals

first_imgNoble Energy-led consortium operating the giant offshore gas field Leviathan in Israel has signed agreements with Oil Refineries Ltd and another buyer for the transport of condensate to be produced from the field. The Leviathan is expected to be brought online this month.Leviathan platform / Image by Noble EnergyIn an announcement on Sunday, Delek Drilling, a partner in the project said that under the agreement signed with Oil Refineries Ltd, condensate that is produced from the Leviathan reservoir will be transported to the existing fuel pipeline of Europe Asia Pipeline Co. Ltd. (EAPC) which leads to a tank farm of Petroleum & Energy Infrastructures Ltd. (PEI) in Kiryat Haim, and from there will be transported to Oil Refineries Ltd’s facilities.Apart from the deal with ORL, Delek said an agreement was signed with an international trade company in the fuel industry to transport Leviathan condensate via road tankers and deliver it to the buyer at PEI’s tank farm (the “Supply Agreement”). The Supply Agreement will be in effect from the start of the transport of natural gas from the Leviathan reservoir until December 31, 2020. The agreement will be renewed each year for a period of one additional year unless one of the parties chooses not to renew.As part of the second agreement, the price of the condensate will be linked to the Brent barrel price, and the buyer will be entitled to a discount if the condensate deviates from the specification outlined in the Supply Agreement,Delek said that concurrently with the transport of the condensate according to the agreements revealed on Sunday, the Leviathan Partners are continuing to explore other alternatives for the transportation and the sale of the Leviathan condensate.The ~$3.7 billion Leviathan project is the largest energy project in Israel’s history. The project development is in the final stages and is slated to start delivering gas to the Israeli domestic market and regional markets in December 2019.The project is being developed via an offshore platform from which treated gas and stabilized condensate will flow through a northern entry pipeline connected to the INGL (Israel Natural Gas Lines) national gas transmission system.According to Noble Energy, the Leviathan gas will make it possible for the Israeli energy sector to be based almost exclusively on electricity generated by natural gas. Also, it will make Israel an energy exporter.The Leviathan field is estimated to hold 33 Tcf of natural gas resources in place (22 Tcf recoverable). It was discovered in December 2010, 125 kilometers west of Haifa. It will have a total production capacity of 1.2 billion cubic feet of natural gas per day (Bcf/d).Offshore Energy Today StaffSpotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email.Also, if you’re interested in showcasing your company, product, or technology on Offshore Energy Today, please contact us via our advertising form, where you can also see our media kit.last_img read more

Woman jailed over cyber libel rap

first_imgILOILO City – Charged with cyber libel, awoman was nabbed in Barangay Malunag, Zarraga, Iloilo. The 41-year-old Josephine PasgalaBacanto of Barangay Gines, Zarraga was arrested around 10 a.m., a police reportshowed. Bacanto’s apprehension was staged on thestrength of an arrest warrant, the report added. The court recommended a P12,000 bailbond for her temporary liberty./PN Bacanto was detained in the lockup cellof Zarraga police station. last_img

John Humphrey Riggs

first_imgJohn Humphrey Riggs, 92, who resided at The Seasons Assisted Living in Milan, IN and formerly of Aurora, Indiana passed away on Sunday, May 29, 2016 at the V.A. Hospital in Cincinnati, Ohio.He was born Monday, June 15, 1923 in Dearborn County, Indiana, son of the late John T. Riggs and the late Edith Humphrey Riggs. He was also preceded in death by his loving wife of 69 years, Annie Roberts Riggs, his brother Oliver “Skeets” Riggs and sister Thelma Thies, and one great grandaughter, Hailey Riggs.Surviving are his children, Beverly Anne McConnell (Larry) of Milan, IN, John Gregory Riggs of Saylor Park, OH, Deborah Lynn Bissinger (Greg) of Terre Haute, IN, and Terri Elizabeth Fox (Ron)of Manassas, VA; Sisters Lucille Johnson of Aurora, IN, Rosalie “Rosie” Kippler of Lawrenceburg, IN, and Lauretta Humphrey of Rising Sun, IN; 12 grandchildren, 27 great grandchildren and 6 great great grandchildren, and many nieces and nephews.John “Hump” was a happy, selfless man who dearly loved his family, friends, and life itself. He spent countless hours volunteering his time to everything from playing Santa Claus for many years in Aurora to helping his fellow veterans at the V.A. offices in Lawrenceburg and Cincinnati. His presence will be missed by all as he deeply touched and had such a wonderful impact on everyone he met. He is now joined in heaven with the love of his life, Annie.John H. Riggs served his Country proudly in World War II as a Merchant Marine from 1942-1946 and then worked at Thatcher Glass Manufacturing, retiring after over 33 years of service. He was a charter and lifetime member of the Aurora Moose Lodge since 1949, a Pilgrim of the Moose and Moose Fellowship, and member of the VFW, AMVETS, Milan American Legion, Ohio Valley Merchant Marines, and the Aurora Eagles.Friends will be received from 4:00-6:00, Saturday, June 4, 2016 at the Rullman Hunger Funeral Home, Aurora, Indiana.Services will be held at the Funeral Home, Saturday at 6:00 pm with Pastor Charlie Miller officiating.Interment will follow in the Mt. Sinai Cemetery, Aurora, IN. Military services will be conducted by members of local Veterans Service Organizations.Contributions may be made to the Moose Heart Organization. If unable to attend, please call the office at (812) 926-1450 and we will notify the family of your donation with a card.Visit: www.rullmans.comlast_img read more

Wilkinson extends Potters deal

first_img Press Association The deal, which also includes the option of a further 12 months, will take the 29-year-old into a 14th season with the Potters. Wilkinson, born in nearby Stone, fell down the pecking order during the 2013-14 campaign, making just six appearances, but remained keen to stay at the Britannia Stadium. Long-serving Stoke defender Andy Wilkinson has agreed a one-year contract extension, the club have announced.center_img Wilkinson told the club’s website: “I am very happy to sign again for Stoke. This is a club that I love and I want to stay at. “It would be hard for me to leave, so it wasn’t a hard decision to make and I am delighted to get the deal done. “It’s been a frustrating season for me, not playing as many games as I would have liked to, but that is a credit to the lads who have played. “I need to keep working hard and hopefully my chance will come again.” last_img read more

Drama may take direct Royal route

first_imgGer Lyons could be tempted to send Endless Drama straight to Royal Ascot. Although the Lope De Vega colt holds an entry in the Tattersalls Irish 2,000 Guineas at the Curragh later this month, the County Meath handler may bypass the mile Classic in favour of heading directly to the St James’s Palace Stakes. After winning a Naas maiden on his debut in October, Endless Drama has since finished second in the Leopardstown 2,000 Guineas Trial and, most recently, in the Tetrarch Stakes at the Curragh. Lyons said: “I’m not sure which way we will go – he hasn’t won a Listed race yet. “He’s been in good form since the Curragh. At the minute, he’s in the Guineas, but he could go straight for the St James’s Palace at Royal Ascot. “We will have to have a good think about it.” center_img Press Associationlast_img read more

Florida Asks Appeals Court to Place Ex-Felons’ Voting Ruling on Hold

first_imgGov. Ron DeSantis is asking a federal appeals court to put on hold a ruling that would potentially allow hundreds of thousands of ex-felons to register and vote this November, arguing that the decision could “corrupt” the integrity of the state’s elections.On Wednesday, the governor requested that the 11th U.S. Circuit Court of Appeals issue a stay as his administration continues to fight a lower-court ruling about a 2019 state law that is aimed at implementing a constitutional amendment that restored the voting rights of felons “who have completed all terms of their sentences, including parole and probation.”Voting rights and civil rights groups filed a lawsuit several months ago, challenging the constitutionality of part of last year’s law that requires felons to pay “legal financial obligations,” or fees, fines, costs and restitution, that are associated with their convictions in order to be eligible to vote.U.S. District Judge Robert Hinkle ruled last October that the state cannot deny the right to vote to someone who is “genuinely unable to pay.”He also established a process last month for the state to use in determining felons’ voting eligibility. In addition, Hinkle issued a ruling on Sunday that rejected a stay sought by DeSantis.In a 35-page brief filed on Wednesday, the state’s lawyers argued that the 2019 law should not be overturned.“Here, Florida’s interest in punishing a felony is not satisfied until all the terms of a felon’s sentence are completed in full,” the brief said.It further stated, “This is true whether the uncompleted term at issue is a period of incarceration or a fine and regardless of why the term remains unsatisfied.”Hinkle’s ruling last month established a path for most ex-felons to register and vote, based on their financial status at the time they were convicted.Soon thereafter, DeSantis asked the Atlanta-based appeals court to hold an “en banc,” or full court, hearing in the state’s challenge to Hinkle’s order. Three-judge panels are almost always used to initial appeals.There are 17,000 pending applications for clemency in Florida. 600 of those people are waiting on @GovRonDeSantis to sign-off on their voting rights be restored.But he chose to cancel the first clemency hearing of 2020.This is voter suppression.— Nikki Fried (@nikkifried) June 15, 2020 The state also asked the appellate court to expedite the case, which it did. However, the 11th Circuit has not responded to the request for an en banc hearing.Lawyers for DeSantis and Secretary of State Laurel Lee argue in the brief filed on Wednesday that the state law properly carries out the intent of what appeared as “Amendment 4” on Florida’s November 2018 ballot.Hinkle’s ruling “thwarts the people’s wishes, as it allows individuals to register and vote who are not eligible under Amendment 4,” the state’s lawyers wrote.The federal judge’s decision would allow “hundreds of thousands of felons who are ineligible to vote under Florida law” to cast ballots, they also argued.“Indeed, if the district court’s order is in place during the elections, but is later vacated, the integrity of the elections will have been corrupted and their results possibly opened to challenge,” DeSantis’ lawyers said.Last October, Hinkle issued a preliminary injunction in the dispute. A three-judge panel of the appeals court upheld that injunction in February, and the appeals court then declined to hold an en banc hearing.The state’s lawyers responded to the three-judge panel’s decision on Wednesday by writing, “A felon loses his right to vote as punishment for committing a felony, not for being unable to satisfy the financial terms imposed as part of that sentence.”They continued, “The financial terms, like any other terms of a sentence, are simply part of the debt that the felon owes to society, as measured by the judge and jury who imposed it on behalf of society.”On Sunday, Judge Hinkle refused to grant the state’s request to block his order from going into effect while the appeal is still pending.“No matter how many times the state asserts the contrary, a statute that punishes some individuals more harshly based only on wealth, or that irrationally conditions eligibility to vote on wealth, is unconstitutional,” wrote Hinkle, who has repeatedly referred to the state law as a “pay-to-vote” system.last_img read more

Confederations Cup …

first_imgGoretzka double helps Germany reach final(REUTERS) – Germany’s Leon Goretzka scored two expertly-taken early goals to set them on the way to a thumping 4-1 win over Mexico in a dramatic, end-to-end Confederations Cup semi-final yesterday.Mexico had more chances and more possession but their defence left wide open spaces which were ruthlessly exploited by Germany’s young, experimental team.Goretzka struck twice in the first eight minutes before Timo Werner and Amin Younis added two more in the second half, though Marcio Fabian’s 89th minute goal for Mexico was the most spectacular – a viciously swerving drive from 35 metres.Germany, whose starting team had an average age of just under 24, will meet Chile in Sunday’s final in St Petersburg, having progressed despite resting players such as keeper Manuel Neuer, Mats Hummels, Mesut Ozil, Thomas Muller and Toni Kroos.Mexico’s elimination will leave the fans wondering about their chances at next year’s World Cup if, as expected, they qualify, and of ending a run of six successive last 16 exits.There was controversy after the break when Werner appeared to be pushed in the back as he broke into the penalty area but the referee waved play on without asking for a video replay.Germany went ahead after six minutes when Benjamin Henrichs burst down the right and Goretzka swept his low pass into the net from the edge of the penalty areaIt took one minute 49 seconds for Germany to double their lead as Werner slipped the ball through an open Mexico defence to Goretzka who clipped it over keeper Guillermo Ochoa.last_img read more