Is your credit union out of good ideas?

first_imgLately it seems like Hollywood and television have run out of good, new ideas for entertainment. Many movies and programs coming out are sequels, reboots and “reimaginings” (whatever that is). For a recent example, look no further than the re-whatever of The X-Files on Fox.Admittedly, some of these sequels and reboots are a lot of fun. For example, I think some of the updated Star Trek franchise films are at least as good, if not better, than the originals. On the flipside, for every good sequel or remake you get, there’s always going to be a Jaws: The Revenge or Godzilla (1998).I receive a number of credit union newsletters and can say with certainty that too many of them have the same information (i.e.: the same promotion every spring, the same information listed every fall). Is your bank or credit union out of good ideas? This applies to a number of areas, including consumer service, marketing, the brand and operations. If your financial institution finds itself in an idea rut, consider the following kickstarters to find new inspiration.Break out of the financial institution silo. We are all guilty of focusing solely on the task at hand, daily operations, etc. Over time, this limits our vision and blunts focus. Look outside the world of banks and credit unions. Scan blogs, financial news websites and periodicals. Banks and credit unions must learn to think of themselves as retailers, so it makes sense that we look to the retail world for inspiration and new blood. continue reading » 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more


Domestic market to be driver of recovery, Garuda chief says

first_imgNational flag carrier Garuda Indonesia expects the domestic market to drive its business this year, which is showing signs of recovery despite the heavy blow to the aviation sector by COVID-19, the company’s top executive has said.Garuda president director Irfan Setiaputra told The Jakarta Post in an exclusive interview on Thursday that the company was currently exploring new opportunities in the domestic market, as it provides better opportunities than the international market during the ongoing health crisis.“During the recovery process, we agreed that the domestic market will be the driver. The reasoning behind the decision is that we have more control in the market in regard to the [industry] authorities,” he said, referring to the firm’s relationship with aviation stakeholders such as state-owned airport operator PT Angkasa Pura (AP) II. “The only way to accelerate recovery is by boosting [the number] of passengers.”The airline enjoyed an increase of 58.1 percent month-on-month (mom) in the number of domestic passengers to over 110,400 passengers in July, which the airline attributed to the relaxation of the large-scale social restrictions (PSBB) by the government.However, the airline saw an overall 61 percent drop year-on-year (yoy) in total numbers of passengers as of July this year, down to 3.6 million passengers, as the pandemic stymied the airline’s operations and hit its financial performance, with social restrictions and border closures deterring people from flying.The airline posted a US$712.73 million loss in the first half of this year after booking net profits of $24.11 million in the same period last year. Furthermore, Irfan said the company had recently found new opportunities in the domestic market, which had previously been overlooked by management, such as freight exports.“There are huge opportunities to work together with small businesses, fishermen and other industries to provide them with logistics services for exports. We hadn’t thought about that in recent years,” he said.However, while the freight business provides an additional source of income, Irfan said it was unlikely that the contribution would significantly improve its profitability as its main revenue is still dominated by the passenger business.AP II previously projected a full recovery of Indonesia’s aviation industry to occur by mid-2023, with domestic flights projected to be the backbone of the industry’s recovery process.The forecast is slightly more optimistic than that by the International Air Transport Association (IATA), which expects the full recovery of global air passenger traffic by 2024, a year later than its initial estimate, given slow virus containment in developing economies, corporate travel cuts and weak consumer confidence during the global health crisis.However, regarding the international flights market, Garuda will maintain its current routes and only expand its routes once the pandemic ends, Irfan said.“We will try to maintain our existing routes as best as we can, and ensure our international routes can reach breakeven point during normal times. We are also working together with all stakeholders to establish new routes, which will bring in high-spending tourists to Indonesia,” he said.Garuda currently has 22 international routes to 10 countries including China, Japan, Australia, Netherlands and Singapore, according to the company’s website.The total number of international passengers carried by the airline plunged by 96 percent yoy to 10,581 passengers in July.During a hearing with the House of Representatives earlier in July, Irfan said that the airline was mulling whether to establish direct flights that will connect the resort island of Bali with cities in the United States like Los Angeles and San Francisco and Indian cities like Mumbai and New Delhi, as well as with France.However, during the interview, Irfan said the company was still “miles away” from the expansion plan as it was currently still focusing on the recovery process.“We’ll get through this pandemic first. Once it’s all over, then we’ll talk about the [expansion] plan and how we work together with other stakeholders to boost our tourist sector,” he said.In a research note published on Wednesday, Lee Young Jun from Mirae Asset Sekuritas expected that the airline’s monthly seat load factor (SLF) would not exceed 50 percent, while its SLF stood at 30 percent in July, according to the company’s data.“Although the management claimed that the improvement should continue until the end of 2020, we believe that monthly SLF will not exceed 50 percent, given the fact that new COVID-19 cases are continuously hitting new records,” the research note reads.It expects the company to book $1.63 billion in revenue by 2020 year-end, a sharp drop from $4.5 billion last year.Topics :last_img read more


3 things Steve Addazio said on the ACC teleconference before Syracuse-Boston College

first_img Published on October 19, 2016 at 5:44 pm Contact Chris: [email protected] | @ChrisLibonati Syracuse (3-4, 1-2 Atlantic Coast) will travel to Chestnut Hill, Massachusetts, on Saturday when it takes on Boston College (3-3, 0-3) at 12:30 p.m. The Orange is coming off a 31-17 upset with over then-No. 17 Virginia Tech, while the Eagles are coming off a bye week. In BC’s last game, Clemson crushed the Eagles, 56-10.Here are three things BC head coach Steve Addazio said ahead of the matchup.RELATED: This is what Dino Babers said.Addazio wishes Pittsburgh was in the Atlantic DivisionSyracuse-Boston College has been branded as a rivalry game since the Orange moved from the Big East to the ACC. The two teams had played each other in the last game of the regular season since Syracuse joined the league, but this season, the two will square up in a matchup that could determine whether one of gets into a bowl game.AdvertisementThis is placeholder textThe first two matchups between Boston College and Syracuse determined both teams’ bowl eligibility. In the 2013 matchup, Syracuse got its sixth win by beating BC, 34-31. In 2014, BC got its sixth win by beating SU, 28-7.Addazio said he’d like to see Pittsburgh, who is currently in the Coastal Division move over into the Atlantic Division to increase the number of rivalry games. SU will get its crack at the Panthers in its last game of the regular season on Nov. 26.“I think it’s fantastic … I wish Pitt was on this side. I was at Syracuse at the time and those are all big games,” Addazio said. “Syracuse, BC, Pittsburgh, they were all big contests. I think those are great within the conference when you have some geographic proximity and some history.”Boston College needs to control the ballAddazio said Syracuse turned its energy and intensity up a notch late against Virginia Tech, which helped propel SU to a win. Boston College has had two weeks to prepare for the Orange now after the Eagles were whooped by Clemson, 56-10. The Eagles also had a bye week last week.“As that game went on … they’re like, hey, we have a chance to go get this thing,” Addazio said of SU’s matchup with Virginia Tech.This week, he said his offense needs to keep the ball away from Syracuse to win the game. The Orange offense racked up 561 yards of total offense against the then-No. 17 Hokies, who were coming off a 34-3 win over a then-ranked North Carolina team.Addazio is hoping for some wind and rain The forecast for Syracuse’s matchup with Boston College is a high of 55 degrees, a 60 percent chance of precipitation and 20 mile-per-hour winds. When SU played Wake Forest, Winston-Salem, North Carolina, got a heavy dose of rain and wind from Hurricane Matthew, which had touched land on the eastern coast of the state.SU’s offense struggled in that matchup, scoring only seven points and allowing quarterback Eric Dungey to be sacked five times, a season-high. WFU thrashed SU, 28-9, in what was a close game until midway through the final quarter.Addazio stressed the Orange’s ability in the vertical passing game, and said he hopes it rains when the two teams meet Saturday.“I wouldn’t mind a little rain and wind coming in here, but I don’t control that,” Addazio said. “So that’s a little out of my reach.“If I could, I’d call it in.” Comments Facebook Twitter Google+last_img read more