San Francisco Federal Credit Union’s Post

Corporate insolvencies rise again. Demand for workers bounces back. As does retail. Investment, fraud, Thames Water, Body Shop, The Post Office & more business news that we thought would interest our members. https://lnkd.in/ep4-PMqj #businessNews #creditmanagement #finance #smallbusiness #latepayment #insolvencies #economy

Following the National Federation of Independent Business (NFIB) survey, David Norris, Partner, Head of US Credit, delves into the key findings from the recent data release: - A notable 8% drop from February in the net percent of owners anticipating higher real sales - A significant cooling in planned employment changes, raising concerns about future job growth - Owners' plans to fill open positions have slowed, with a seasonally-adjusted net 11% aiming to create new jobs, the lowest level since May 2020. Read more here:https://okt.to/5LVkPb #smallbusiness #USeconomy

Credit Unions: The Power of Community There’s a lot of talk about big banks, fintech, and shiny new apps, but let me tell you a little secret. Credit unions are where it’s at for real, meaningful financial empowerment. I’ve seen it firsthand as a NED at Citysave Credit Union Ltd. This isn’t just about numbers, it’s about people. Credit unions have one goal: helping their members thrive. When you strip away the corporate profit machine, what you’re left with is community, trust, and people looking out for each other. You think that doesn’t matter? You couldn’t be more wrong. People need financial systems they can trust, especially in tough times. They need places where their money works for them, not the other way around. Credit unions are that place. And I’m proud to be part of it. If you’re not part of one, you need to rethink what you’re doing with your money. And a shameless plug. Citysave Credit Union Ltd has a payroll scheme for employers which allows employees to save or loan and the money comes straight from their salary before they are paid. As you look for employee benefits rather than finding a shiny fintech. Look at what your local credit union may be able to offer your employees.

Following the National Federation of Independent Business (NFIB) survey, David Norris, Partner, Head of US Credit, delves into the key findings from the recent data release: - A notable 8% drop from February in the net percent of owners anticipating higher real sales - A significant cooling in planned employment changes, raising concerns about future job growth - Owners' plans to fill open positions have slowed, with a seasonally-adjusted net 11% aiming to create new jobs, the lowest level since May 2020. Read more here:https://okt.to/5dNY9h #smallbusiness #USeconomy

📉 Rising Expenses & Inefficiencies Impact Credit Union ROA 📉 Dropping in to share some insights into the financial health of credit unions. Recent data highlights a concerning trend: rising expenses and inefficiencies are causing decreased returns across the industry. According to first-quarter data from the National Credit Union Administration, operating expenses at credit unions increased by 6.0% year-over-year in Q1 2024. Concurrently, return on assets (ROA) has dropped from a pandemic high of 1.04% in March 2021 to just 0.66% in Q1 2024. https://hubs.la/Q02BZ5dT0 These numbers underscore the urgent need for credit unions to re-examine their operational efficiency strategies. At CDP, we offer solutions like Laserfiche, eSign, and Webforms to help credit unions streamline operations and reduce costs. Our services enable you to automate processes, enhance productivity, and improve overall efficiency. https://hubs.la/Q02BZ4Xj0 📈 Ready to optimize your operations? Contact us today to learn more about how CDP can help!

I am pleased that SmartCompany covered the recent survey (below) by #GOCardless today, which sheds light on the mental toll late payments take on small business owners. It's about time this issue got more attention. As a small business principal, I completely relate to the struggles of dealing with late payments from big corporations. It's not just about the money; it's also about the stress and uncertainty that come with it. According to the Australian Bureau of Statistics, an eye-opening 91.9% of businesses having a turnover of less than $2 million, and 24.7% of businesses had turnover of less than $50,000. Small business also accounts for 32% of Australia's total GDP. These numbers are not just statistics; they represent the livelihoods of hardworking Australians. It's clear that late payments can have a significant ripple effect on the entire economy. The government is taking steps to address this issue. It aims to achieve an average payment time significantly below 30 days. In December, it also pledged $8.1 million to expedite payment times, enforce compliance, and publicly identify large businesses that failed to pay small businesses promptly. And in the latest development, the slowest-paying big businesses could be forced to name and shame themselves on their own websites. The draft legislation to expedite payment times and enforce compliance are definitely steps in the right direction. It's crucial for big businesses to be held accountable for their payment practices. This is not just about the law; it's about doing what's right for the small businesses that contribute so much to our economy. While naming and shaming might not be everyone's cup of tea, the transparency it brings could help small businesses make more informed decisions about who they work with. Big corporations need to understand the impact their actions have on the livelihoods of small business owners. If you're part of a big corporation, take a moment to consider the real human impact of delayed payment terms on small business owners. It's not just about the numbers; it's about the families and livelihoods that are affected. #smallbusiness #soletrader #accounting #money #cashflow #economy #growth #cfo #sme #auspol #invoicing #payments #smartcompany #smallbiz #mentalhealth #humanimpact #finance https://lnkd.in/gPkhtG66

Last week, the Federal Reserve slashed interest rates for the first time in over four years, signaling a potential uplift for stocks and Wall Street. But what does it mean for the backbone of America, our small businesses? #BuddingBusinessBookkeeping #bookkeeping #businessowner #smallbiz #businessfinance #entrepreneur #businessservices

The National Federation of Independent Business (NFIB), a member-driven organization that advocates on behalf of small and independent businesses across the United States, has an "Uncertainty Index" that has surged to its highest level since November 2020, reflecting growing concerns among small business owners. Despite a slight uptick in the Optimism Index to 90.5, optimism remains historically low. Inflation continues to be the top issue for 22% of owners, while challenges with financing, labor quality, and costs are exacerbating the situation. With the debt limit for Subchapter V bankruptcy set to revert and economic pressures mounting, the landscape for small businesses is becoming increasingly complex. At Indiva Advisors, we understand the critical role small businesses play in our economy and are dedicated to providing the strategic guidance needed to navigate these turbulent times. Let's work together to find solutions and ensure your business thrives despite the uncertainties. #SmallBusiness #FinancialStrategy #IndivaAdvisors

Today, I heard an incredible story that truly embodies the impact we strive to make at The Wilf Ward Family Trust. One of the amazing individuals we support, a lady in Scarborough, recently got a new cash card. At first, she saw the card as a bottomless pit of money - spending was easy when she wasn’t handling cash. But with the dedicated support of our team, she learned the true value of budgeting and saving. Together, they set up a weekly budget and a savings plan. The results have been transformative! Not only has she taken charge of her finances, but she’s also saved enough to treat herself to a manicure and even bought a new wardrobe for her room. Her newfound understanding of money has given her a sense of empowerment, and her living space is now more organised and less cluttered. She’s even requested a meeting with the Court of Protection to further understand her finances - a true testament to her growth and confidence. Stories like these remind us of the real-life impact of financial education and support. It's about more than just numbers - it's about helping people live their best lives. As our Trust continues to grow, we are searching for a Finance Business Partner who shares our commitment to making a difference. This role isn’t just about managing finances; it’s about supporting life-changing moments like these. If you’re passionate about finance and want to help shape the futures of the incredible people we support, we’d love to hear from you. Learn more and apply here: https://lnkd.in/emB5WfHX or drop me or Kathy B., Hannah Smyth a message. Join us in creating a future where everyone can thrive. #Hiring #FinanceJobs #FinanceBusinessPartner #CareSector #WilfWardFamilyTrust #MakingADifference #JobOpportunity

Four key areas of newly-required productivity plans revealed in final finance settlement https://lnkd.in/eBTuJrbj #financesettlement #productivityplans #localgovernment #localgov #michaelgove #transformation #technology #councils