FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):NextEra Energy Resources LLC expects to place in service nearly 700 MW of fully contracted battery storage projects in California before the end of 2022, it said Aug. 31.The battery storage systems will be located at six of the company’s existing solar projects and will comprise 63 MW at the Blythe 110 solar project 115 MW at the Blythe II solar project 115 MW at the Blythe III solar project 230 MW at the McCoy Solar Energy Project 110 MW at the Arlington solar project and 65 MW at the Yellow Pine Solar project.The output of all but one of the projects is secured under long-term contracts, according to S&P Global Market Intelligence data. Contract counterparties include investor-owned utilities, a community choice aggregator and a corporate customer.The projects represent a capital investment of nearly $800 million. The NextEra Energy Inc. subsidiary recently secured approval for 523 MW of projects that needed state permitting.“Once these projects are operational by the end of 2022, Californians will benefit from more low-cost, emission-free solar energy during more hours of the day, as well as improved reliability across the regional electric grid,” NextEra Energy Resources President and CEO John Ketchum said in a news release.Aside from these projects, the company said it has nearly 2,000 MW of shovel-ready or near shovel-ready battery energy storage projects in California that it could deploy to meet state energy storage capacity requirements. NextEra Energy Resources is also developing a 1,300-MW pumped storage hydro facility in California that it said could help diversify the state’s storage resources.[Nephele Kirong]More ($): NextEra to commission nearly 700 MW of battery storage in California by 2022 NextEra Energy to add 700MW of battery storage at existing California solar projects by end of 2022
Sign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A Dix Hills man has been accused of having sex with a dog that he allegedly stole and later beat with a baseball bat last year, authorities said.Steven Errante pleaded not guilty at Suffolk County court to charges of animal cruelty, sexual misconduct and petit larceny.Prosecutors said the 26-year-old stole the Rottweiler-Labrador mix from a fenced-in pen behind a church near his home on Deer Park Avenue in October.The suspect then allegedly had sex with the dog in December, then brutally beat the dog, which suffered a fractured skull and was euthanized days later.Judge Barbara Kahn set bail for Errante at $50,000 cash or $100,000 bond.She also granted a request from the suspect’s attorney, Mary Beth Abbate, that Errante undergo a psychiatric evaluation to determine if he understands the proceedings and can assist in his own defense.
8SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Preston Packer Preston Packer is the Director of Sales & Marketing for FLEX. Preston has been with FLEX since 2000 and has worked in various sales management roles over that time. Preston’… Web: www.flexcutech.com Details Your 2016 goals and strategy are no doubt set, and if you’re like most credit unions we talk to mobile lending is on that list. We see the rise in social media and the need to appeal to younger members as the main push for CU’s to adopt mobile lending, and we understand that technology is changing the way members access financial services. However, as much as mobile lending is an opportunity for credit unions to gain more revenue and new members, how much of an impact will it make to your bottom line? Will the amount of new business justify the expenditure?With the right core in place, you are presented with the opportunity to introduce new technology to your product offering with relative ease. Thanks to integrated apps, if your credit union core has kept up with the pace of technology, going to market with a product like mobile lending may not require as much up front work or costs as you fear.View our “Loans To Go!” eBook on using your core technology to master mobile lending.But just having the product available is not enough to ensure success. Here are some common ways to fail in your planning and implementation of mobile lending for your CU:1) Making too many assumptions about your members and their demographics Most credit union executives understand the demographics of their current and potential member base, and how they are changing, and then project those changes on to their offering. But be careful in drawing too many conclusions. Credit unions with aging members should not assume that mobile technologies only target the young. However resistant to adoption, older members will depend increasingly upon mobile technology as they live longer lives and as their mobility declines. Consideration of demographics like this can illuminate a long-term vision for mobile lending.2) Assuming your mobile lending is the only game in town Gauge your members’ susceptibility to competing alternatives. It’s a strong bet that your neighborhood loan shark can be found in the app store. Whether from some obscure shadow banking outlet, or from a major player like Quicken or Google, members have many new sources of cash. Take the time to understand these encroaching services and assess the extent to which your members are susceptible to them. As you do so, you will see opportunities to differentiate and better estimate demand for your mobile loan offerings. For example, credit unions who offer remote controls for cards enjoy a distinct competitive advantage in promoting credit card loans to members who travel, who shop online or who might be otherwise uniquely exposed to fraud risk.3) Targeting members’ stereotypesA recent study around the use of big-data reveals that “interests, opinions and overt behaviors are a much better indicator of customer demand” than traditionally-defined market segments. In other words, indicators like income, ethnicity or education matter much less than your member’s personal credit score, substance abuse record, work-place habits or spending patterns.While most credit unions think big-data is something accessible only by government entities and internet wizards, it’s really not. Big-data is any resource that helps you construct an intimate picture of how your members behave and what motivates them. As you analyze information you already possess in your loan portfolio and account records, you will better see how those pictures of your members fit into your strategic landscape for mobile lending.4) Not even tryingSimply NOT considering and thoroughly analyzing mobile lending is a sure-fire way to fail at it. Even if you determine it is not right for you, doing your due diligence to assess it will benefit you, while ignoring it would be a huge mistake. Most Americans now own a mobile phone and mobile has overtaken PC usage on the internet. It was just announced that in 2015, the number of weekly mobile bankers exceeded weekly branch bankers. Nearly 70% of online product searches lead to action within an hour and mobile loan products should be no exception!Assessing the impact of mobile lending is important, but be sure you get there, and get your implementation right. Tier-1 mobile apps, such as those developed by FLEX, integrate directly into your credit union core processing system so they can deliver the efficiency and advanced capabilities that your staff and your members will demand. You’ll find integrated systems to be indispensable to your success in the mobile arena.Download our new eBook: Loans To Go!
13SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Mark Weber Mark Weber is the CEO and Chairman of Strum, a 30-year nationwide leader in financial services, branding, business intelligence analytics and data-driven strategy. With offices in Seattle and Boston, Strum … Web: www.strumagency.com Details Credit unions with close relationships to their members and communities were made for a time like this.Advertising plans and marketing strategies built for 2020 could not have predicted the current state we’re in. The temptation is to jerk the wheel and cut advertising spend and marketing projects because they are viewed as a large budget expense. While rapid changes to media and marketing strategy are appropriate, stopping marketing is a knee-jerk response that could hurt your opportunities to emerge from the crisis and recession more rapidly in the future.Going silent with your brand risks losing vital awareness and positive perceptions of trust and accountability when consumers, businesses, and communities need it most. There is also the risk of losing market share to other financial brands who will step up to fill the vacuum—including the non-traditional players who have been eroding relationships one specific product offering at a time. Credit unions cannot lose sight of protecting their brands and readying for the challenge ahead of marketing strategically for growth and health.As studies from the last two recessions have shown, massive cuts in advertising might be the worst thing to do, and can hurt your future speed to recovery after the recession. As the last recession began to ebb, 2009 media spending declined overall. The organizations that sustained their spending increased their sales and market share during the recession, and especially after the market returned.In conversations with financial institutions across the country, we are helping them reevaluate and recalibrate their strategies and marketing spending in focused ways right now around media mix, greater audience targeting, product prioritization for immediate relief, and messaging content and tone. How financial institutions dial in their marketing and advertising across these dynamics will determine how fast they come out of this crisis: at full speed or battling to catch up.Shifting Media MixUnsurprisingly, TV and streaming are booming as Americans stay home. Broadcast news (especially local program viewing and listening) has increased. In addition, many of our clients who have sustained broadcast buys are receiving unprecedented value-added placements from stations who appreciate their business at a time when other advertisers are pulling back. The value of every media dollar spent here is essentially being multiplied.While TV has deep reach in building brand awareness, digital media provides faster, more dynamic ways to target audiences quickly and measure results. Streaming is on a rapid rise and social platform usage is also up dramatically. Migrating or increasing spend in these areas will help you reach a steady concentration of consumers to build your brand.But not all media is gaining in value. Many financial institutions’ media plans included event sponsorships and out-of-home advertising during spring and summer when people are normally outside and on the road. They are the largest impacted media right now for obvious reasons. Out-of-home contracts can be challenging, if not impossible, to get out of without major fee penalties. However, several outdoor companies are offering make-goods and extended flights to build back promised impressions.Messaging Content and Tone In the first wave of shock, many financial institutions offered soothing but ultimately vague messages. The phrase “we’re in this together“ was a near universal theme. But actually being there for members requires clear follow-through, relevant solutions, and practical help.As the recession mounts, value, simplicity, and online options will be increasingly prized. Price and rates, fees and payments, along with fast online and mobile solutions will all matter more than ever. You’ll want to be direct, simple, and clear, not just empathetic. Credit unions can and should be proactively leading individuals, households, and businesses through this crisis with real empathy—which means lowering hurdles in any way possible to get customers into a better financial position.How you respond—and the communications and brand voice you use—will set the tone for your reputation and image through this crisis. Brands like Hotels.com are advertising with Captain Obvious right now. Why? Brand building and visibility ahead of the curve. One day ahead, people will be starved to travel again.A 2019 national study found that 77% of consumers prefer to buy from brands that share their personal values. We’re seeing that in brands like Zoom and Ford stepping up to help America battle the crisis. We believe this values focus will only rise through this crisis. This is a time for you to lead with your own values and purpose.Preparing for the RecoveryAs the first wave of this global pandemic begins to reach its apex and we begin to think about returning to some level of normalcy, it’s time to prepare not just for this next phase, but longer-term growth—which will be undoubtedly dominated by data analytics and well-targeted member journeys and focused marketing strategies.Disruption fosters innovation, for those who capture the moment. But most credit unions, frankly, have not had to innovate significantly in the booming growth market of the last decade. Unfortunately, this crisis will expose any weakness that success has hidden. And a lack of data-led marketing strategy and analytics will cause many organizations to fall further behind in the recovery ahead.Smarter digital tools and intelligent analytics will no longer be an optional investment. This is a pivotal moment to rethink your priorities, spending, and marketing investment in these areas. Speed to implementation and results will become more critical than ever. Ultimately, this is the best investment because it will enable you to create personalized services for your members that will help them each individually find financial wellness and get ahead.Members absolutely need their credit unions in different ways now than ever before. Pivoting to be a lifeline, providing helpful solutions, flexibility to stay afloat, and online and analytics strategies to help people manage their finances is an opportunity to build your brand in powerful and needed ways.Your brand can be built up and honed in a crisis, or it can be damaged with missteps. Don’t step back from sound strategic marketing with a wait-and-see approach. Step up to lead visibly and in tangible ways—with your staff, with your members, with your communities who all need you in different ways right now. Remember, credit unions were made for a time like this.
The report said: “Risks resulting from low interest rates and search for yield remain unchanged.”The fragile economic recovery is still hitting profitability in the financial sector, it said.It added that market uncertainty linked to Greece’s financial situation had led to capital controls, high market volatility and renewed risks to the cohesion of the euro area, though it noted that a pact between Greece and the other euro-area countries had mitigated immediate risks.Reduced corporate bond market liquidity has exposed asset managers to valuation risks, the report said, adding that managers also face risks because they are investing more in illiquid assets. The authorities said worries about asset managers’ liquidity risks could get in the way of plans to spur economic growth by channelling funds managed by institutional investors to SMEs.Supervisors need to scrutinise efforts to clean up balance sheets and look closely to see how sustainable financial entities’ business models are, in order to manage current risks and make asset owners more able to lend, the report said.“A clear picture of institutions’ earnings potentials, funding mixes and strategies is crucial,” it said. “Promotion of rigorous valuation of assets and liabilities and transparency in the disclosure of valuation risk is essential to discourage mis-valuation tendencies.”They said regulators should go ahead with plans to support market-based funding by, for example, making suitable rules for non-bank loan origination models.They should also support “adequate, transparent and harmonised marketing of investment products”. Three European supervisory authorities have jointly warned that there are still risks in EU financial markets and said that action needed to be taken, particularly to counter the valuation risks that exist in illiquid markets.In their Joint Committee Report on Risks and Vulnerabilities in the EU financial system for August, the European Supervisory Authorities for securities (ESMA), banking (EBA) and insurance and occupational pensions (EIOPA) said risks resulting from low interest rates, the search for yield and low profitability of financial institutions were still there.These risks are just as severe as reported in the March 2015 report, they said.There are also risks related to lower market liquidity and their possible implications for asset managers, according to the supervisors’ latest assessment.