NCUA provides guidance on fixed-asset rule, now in effect

first_imgThe National Credit Union’s (NCUA’s) fixed-assets final rule is effective as of Oct. 2, and the agency has provided several pieces of guidance for credit unions. In a supervisory letter (SL-15-03), the NCUA’s Office of Examination and Insurance provides information for agency field staff, while a letter to credit unions (15-CU-06) provides information on examination priorities.The fixed-assets rule was finalized by the NCUA in July. It removed the 5% cap on fixed assets and established a six-year time period of partial occupancy of premises. CUNA generally supported the proposal, but urged the NCUA to provide guidance.The final rule also eliminated existing and pending waivers of the 5% limit on fixed assets. Waivers associated with other parts of the rule, such as the occupancy requirements, remain in effect.According to its letter to federally insured credit unions, examiners will no longer focus on fixed assets, unless any of the following conditions occur: continue reading » 13SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more


Art in the Loft preparing to open in June

first_imgAddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisWith Governor Gretchen Whitmer beginning to ease restrictions of the Stay Home, Stay Safe executive order, businesses across Michigan are beginning to open up. That includes some right here in Alpena.Art in the Loft is planning to get back in the swing of things, bringing staff back to work at the art gallery after being off for 10 weeks.Executive Director of the gallery, Justin Christensen–Cooper, says the first order of business is making sure community members will have a safe experience when they return.“It’s going to take us a good week just to get the space ready, meaning having adequate signage that’s related to the coronavirus, sanitizing all the surfaces, cleaning, organizing, and then we’re going to use that time to get our artists back up there to start to setting up their displays of all their new artwork that they have.”One of the major concerns as the gallery prepares to reopen its doors is getting back on track financially. Like many other businesses, Art in the Loft has taken a significant hit due to the coronavirus response.“We’ve seen a 60% cut in what our revenue would’ve been up to this point. And that’s revenue that goes toward things such as administration and staffing, to paying the rent, to allowing artists the space to come up and use as a means to sell their artwork. So the biggest thing that I can really do to help not only our mission but to help arts in our community is to become a member of Art in the Loft. And they can do that through Art in the Loft’s website and those funds are going to be going to so many things that we want to start back up.”When the gallery does reopen, social distancing guidelines will still be in place and events will be limited to attendees who RSVP. A number of programs will also be available online. Art in the Loft is scheduled to reopen june 11.AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThis Tags: Art in the Loft, coronavirus, reopeningContinue ReadingPrevious COVID-19 cases for Wednesday, May 27Next Michigan Secretary of State branch offices to reopen June 1 by appointment onlylast_img read more


Tyson Fury announces co-promotional deal with Top Rank/ESPN, Billy Joe Saunders moving up to super middleweight

first_img“I’m delighted that Frank and Queensberry Promotions have teamed up with Top Rank to promote my fights in America,” Fury said in a press release statement sent to Sporting News by Top Rank. “With ESPN and BT Sport behind me, the biggest sports platforms in the world are now linked up with the best heavyweight in the world!”Join DAZN and watch Canelo Alvarez vs. Daniel Jacobs on May 4Warren, the Hall of Fame boxing promoter, added: “This is a great move for Tyson Fury and a great move for Queensberry Promotions. By partnering up with ESPN and Top Rank in America, we’re giving Tyson the opportunity to perform on the biggest and most powerful platforms on both sides of the Atlantic and become a truly global star.”Top Rank chief Bob Arum also said: “Top Rank is very excited to enter into the promotional arrangement along with Queensberry Promotions for the lineal heavyweight champion, Tyson Fury. He is a generational heavyweight talent at the peak of his powers.”What this means for a highly-anticipated rematch between Fury and Deontay Wilder remains to be seen, considering that Wilder is a Premier Boxing Champions fighter and PBC and Top Rank have a rather frigid relationship with each other.Nevertheless, Fury wasn’t the only one with big news Monday. His friend and fellow British boxer, Saunders, announced that he’s moving up from middleweight to super middleweight to fight for the vacant WBO super middleweight world title against Shefat Isufi at The SSE Arena in Wembley, England on Saturday, April 13.Last year wasn’t the best for the undefeated Saunders. Two injuries forced him out of title defenses against Martin Murray and then his October fight against Demetrius Andrade in Boston was scrapped after Saunders failed a VADA anti-doping test. He then decided to vacate his WBO belt. His replacement was Walter Kautondokwa, who stepped in at short notice to face Andrade, but was out classed in a very one-sided fight. Tyson Fury and Billy Joe Saunders each delivered big news during a press conference in London on Monday.Fury, the reigning lineal heavyweight champion, and Frank Warren’s Queensberry Promotions announced that they signed a multi-year co-promotional deal with Top Rank/ESPN, while Billy Joe Saunders announced that he’s moving up to super middleweight for a world title opportunity. The announcement of Saunders moving up in weight comes amidst reports that he was going to fight Andrade as a mandatory contender. Yet, Saunders says the timing to move up in weight is right.Join DAZN and watch more than 100 fight nights a year“It is a brilliant opening for me,” said Saunders in an official press release about moving up in weight for his April clash. “You’ve got these rumors that Andrade is going for shoulder surgery, as well as the financial side of it with the split — it all doesn’t add up. Me winning this super middleweight title will put me in a great position for unifications with the likes of Callum Smith, while we’ve got Chris Eubank boxing James DeGale at the weekend. There are a lot of big, big fights at this weight, but my real home of homes is middleweight, so I can move down at any time I want and be back as mandatory for my middleweight title and then become a three-time world champion.”He added: “So, I am really looking forward to it and Isufi comes as a really stiff test. He is very, very strong and you have to be really switched on and calculating with this sort of opponent. He is one of those who, with what he does, he does very, very well when the bell goes. He has boxed at light heavyweight and cruiserweight, so he is going to be a big, big lump and I need to make sure I am on it and stay away from those big bombs.”last_img read more