What Reddit users say about banks vs. credit unions

first_imgDo you really want to know what people think about your credit union–or why they’re choosing a bank instead? Reddit’s popular platform allowing users to post and discuss topics openly might just be the answer financial institutions have been searching for in regards to honest, unbiased feedback. We’ve read over recent feeds to share the highlights, and how your credit union could benefit from the information.They’ve Got Money on Their MindWhat We Found: It doesn’t really come as a surprise that people discussing personal finances are focused on how much money they’re earning or spending at a financial institution. Comments ran the gamut from fees, credit card minimums to earn rewards, or which places were easier to get loans from. But within all that discussion, a couple of topics stood out. The most discussed was how much individuals were earning from their checking or savings accounts. The other was how much they were paying in fees. What We Can Learn:The most amazing thing to read was the happiness that could be seen when people were sharing their positive experiences regarding these two topics. Whether it was touting the rates their financial institution had been offering them, the waved ATM fees, or debating where bank or credit union profits go, many were happy to give a little referral to their financial institution. Realizing that within all the discussions it was more important for people to bring up the money they were earning, versus how much they were being charged, is also a small bit of insight into your member’s mind. Knowing their priority for a financial institution can give an edge on how to speak to them.Why Technology and Trust Matter What We Found: While some people focused on personal service, and others felt convenience was key, the way technology and security play into all the areas is very important to everyone. This could be seen in several different viewpoints: some comments were about employee honesty at their institution; others based their choice solely on the security measures taken to protect accounts. Tech discussions also included how accessible their money was: 24/7 banking options, customer service availability, ease of accessing while traveling, etc.What We Can Learn:Your credit union may have the security, accessibility and online choices for every type of person, but if they don’t know about it, you may as well not have them at all. If Reddit users need to defend their credit unions’ convenience and security features, it could be a telling sign where marketing and communication could be improved. Everyone Wants Something DifferentWhat We Found:Overall, there wasn’t a completely clear winner or loser as the financial institution of choice. Instead there were a lot of people agreeing that the best choice had a lot to do with personal financial needs. One thread in particular, a user wanted specific advice for his current life situation, and many were quick to point out which benefits or services might suit him best. Also many comments would have something to the effect of, “this is what works best for me” when talking about their choice. What We Can Learn:In the end, there will never be a one-size-fits-all financial package for members. That’s why your credit union has options. The most important thing then, is to make sure your members, and potential members, know those options exist through proper marketing. Customer referrals and positive word-of-mouth are both great, but they can’t work alone. Bottom line is, people will continually search for the best options–it’s important they are informed and aware you can offer exactly what they’re looking for. References:https://www.reddit.com/r/personalfinance/comments/66i35u/when_is_a_credit_union_preferable_to_a_bank/#bottom-commentshttps://www.reddit.com/r/personalfinance/comments/5jzlry/what_is_the_difference_between_a_credit_union_and/#bottom-commentshttps://www.reddit.com/r/personalfinance/comments/54de3n/credit_union_vs_major_bank/#bottom-comments 12SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Ben Prager Prior to forming Prager Creative, Ben worked with design studios, branding firms and advertising agencies to push great strategy and design for all his projects. His experience with all aspects … Web: www.pragercreative.com/creditunions Detailslast_img read more

Drewry: FSRUs More Profitable than LNG Carriers

first_imgDespite falling freight rates for floating storage regasification units (FSRUs), investment returns at current asset prices and charter rates are higher compared with standard LNG vessels, according to Drewry’s LNG Forecaster report.The global FSRU fleet has grown at a CAGR of 21% over the last five years, and currently, there are 24 FSRUs operational with an aggregate LNG import capacity of 82 mtpa. An additional 74 mtpa FSRU import capacity is under construction or in the planning stage. FSRUs are attractive because of various advantages they have over land-based terminals, such as low cost, quick commencement, and flexibility.However, of late rates for FSRUs have come under pressure and are currently around USD 100,000pd, markedly lower than USD 120,000-130,000pd in 2013-15. There are several reasons for this, Drewry says.First, the number of players in the FSRU segment is growing, which is creating competition for the business. Secondly, falling asset prices of FSRUs is making it possible to charter out vessels at lower rates. Third, several old LNG vessels are looking to get an FSRU conversion contract, which adds to the pressure on charter rates.Despite falling rates, owning an FSRU gives a better return than an LNG vessel. Drewry has calculated the rate of return on a newbuild FSRU to be 16% that currently costs USD 250 million and earns a long-term (20 years) charter rate of USD 100,000pd. Meanwhile, the rate of return on a newbuild standard LNG vessel is just 13% that currently costs USD 185 million and earns a long-term charter rate of USD 70,000pd. Therefore, despite falling charter rates, FSRUs are proving to be a better investment option than standard LNG carriers.“We expect long-term charter rates for LNG carriers to improve in the coming years as the market is expected to tighten. However, we do not believe that charter rates for FSRUs will significantly change because of increasing competition and a growing understanding of FSRU technology. We expect charter rates for FSRUs to stay in the range of USD 90,000-USD 100,000pd for the next three to four years, still higher than equivalent LNG charter rates,” said Shresth Sharma, Drewry’s lead LNG shipping analyst.last_img read more

Men’s hockey: Badgers dominate offensively on the road, improve to 4-2

first_imgThe University of Wisconsin men’s hockey team impressed in upstate New York this weekend, sweeping their two-game weekend against No. 18 St. Lawrence and Clarkson.The Badgers (4-2, 0-0 Big Ten) continued to dazzle on the offensive end, as they netted five goals in victories over two strong ECAC opponents. The 10 goals in the two games brought Wisconsin’s average to just over 4.3 goals per-game, which is fourth best in the nation at this point in the season.Wisconsin started their weekend with 5-2 upset win over St. Lawrence Friday night, scoring three goals in the third period to secure their first true road win on the year.The Saints took the lead in the first period, but the Badgers fought back with two goals in the second period. The teams went into the third period deadlocked at two, where Wisconsin’s special teams units prevailed.UW broke the tie on a short-handed goal from freshman Trent Frederic, who continued his impactful play after being named one of the Big Ten stars of the week the week before. The Badgers extended their lead to two with a power-play goal from Ryan Wagner, and held onto it until captain Luke Kunin netted his second goal of the game, an empty-net goal with 13 seconds left to seal the three goal victory.The Badgers followed up their win with another impressive performance against a capable Clarkson team. Thanks to five goals from five different players, Wisconsin came away with their second victory on the road in upstate New York.UW scored in each period on its way to a 5-4 win against the Golden Knights. The Badgers opened the scoring in the first period, notching two goals in less than a minute to jump out to an early and dominant 2-0 lead. Clarkson clawed back to tie the game at two, but goals from a pair of junior defensemen, Corbin McGuire and Cullen Hurley, put the Badgers back up by two.Hurley’s quick third period goal put Wisconsin up 5-3, a lead they wouldn’t surrender the rest of the way, despite allowing the Golden Knights to add a late goal to finalize it at 5-4.The two-game sweep on the road was the first for the Badgers since 2014.Men’s hockey: Badgers hit the road to New York for matchups with No. 18 St. Lawrence and ClarksonThe University of Wisconsin men’s hockey team takes their season out East this weekend as they head to upstate New York Read…The Badgers return to the Kohl Center next weekend for a two-game series rematch against Northern Michigan, who they split games with in the season opener in Green Bay. The series will take place Friday and Saturday, with both games set for 7 p.m.last_img read more