Savings Institution – Nismo Club Fri, 30 Sep 2022 22:44:03 +0000 en-US hourly 1 Savings Institution – Nismo Club 32 32 Black Friday and Cyber ​​Monday Fashion Deals 2022: What to Know Fri, 30 Sep 2022 22:44:03 +0000

When we keep rotating our crochet dresses for fall dresses and denim shorts for baggy jeans, Black Friday and Cyber ​​Monday fashion deals don’t exactly come to mind. But the annual invitation to shop (and shop, and shop) isn’t literally as far away as it mentally seems.

Black Friday and Cyber ​​Monday fashion deals are right around the corner – just under 60 days after this article was published, in fact. This year, Black Friday falls on Friday, November 25followed soon after by Cyber ​​Monday on monday november 28. As shopping history has shown us, some brands are giving us early deals on everything from winter sweaters to puffer jackets. Then there are the massive Black Friday sales from Nordstrom, Net-a-Porter, Saks Fifth Avenue and others with savings of up to 70% that we’d spend an entire week browsing if we could.

We know from experience that the best Black Friday buys always start with a game plan (and maybe a triple espresso – the hunt for the best designer deals is work). Here we list the top sellers that we hope will return for another round this year. We’ll be adding the real Black Friday and Cyber ​​Monday 2022 fashion deals, along with our favorite pieces to shop with each sale, when the official details are finally available.


Nordstrom is known for a particularly epic Black Friday and Cyber ​​Monday sale. (We’ve got a comprehensive guide on what to expect from fashion deals.) We’re hoping for repeat savings of up to 60% on our favorite designers and contemporary brands throughout Cyber ​​Weekend.


Saks Fifth Avenue

On Cyber ​​Monday last year, Saks Fifth Avenue gave us $50 off for every $200 spent. As the first Black Friday giveaway, the department store is currently hosting its Friends & Family sale, where new arrivals are 25% off.



This New York City institution gave us tiered deals for savings of up to 25% during Cyber ​​Monday. There are clearance offers worth exploring now, if you wish.


Net to wear

Net-a-Porter sales are indeed rare. The Black Friday and Cyber ​​Monday 2021 sale showed us exactly why they’re worth the wait, with labels from Loewe to The Row on sale for up to 50% off.



MatchesFashion kept its Black Friday and Cyber ​​Monday promotions light last year, with 10% off previous designer markdowns. But when the find is Alexander McQueen, Alaïa or Versace already heavily discounted, these little coupons do a lot.


Neiman Marcus

Until Neiman Marcus gives us his Black Friday 2022 tea, we can take advantage of his current Friends & Family sale, where select seasonal items are 25% off.



Jacquemus bags, Rixo dresses and Marc Jacobs polo shirts were some of the must-have fashion deals we discovered during Shopbop’s massive Black Friday sale last year. Savings ? Up to 50% off. Rumor has it you’ll find some equally great deals in his sale section right now…



Farfetch went on sale for Black Friday and Cyber ​​Monday last year, offering an additional 25% off its previous designer discounts. Fingers crossed for a second round…


Bergdorf Goodman

It’s hard to resist Bergdorf Goodman’s Black Friday and Cyber ​​Monday fashion deals: Last year there were savings of up to 75% on. The luxury retailer is currently taking 25% off new fall items – consider this a prep sale ahead of the big event.


Operating mode

In 2021, Moda Operandi offered up to 70% off its Creators Edition during Black Friday and Cyber ​​Monday. If you want to get a taste of what’s to come, its sale section currently features deeply discounted finds from Alexis to Valentino.


Kaunas City Polyclinic Chooses ChestLink to Accelerate Preventive Health Checkups Wed, 28 Sep 2022 11:32:00 +0000

CEO of Oxipit Gediminas Peksys

How AI Autonomy Works in Medical Imaging

ChestLink Medical Imaging Workflow

With ChestLink, healthy patients can be immediately sent home after the examination, without having to wait for the study report at the polyclinic.

This represents an ideal use case for ChestLink, which can generate immediate time savings for radiologists, while also improving quality of service for patients.

— Oxipit CEO Gediminas Peksys

VILNIUS, LITHUANIA, Sept. 28, 2022 / — Operating with 99.9% sensitivity, ChestLink can automatically report 26% of all X-ray studies at Kaunas City Polyclinic.

Kaunas City Polyclinic performs more than 140,000 X-ray examinations per year, including 110,000 chest X-rays. ChestLink was introduced at Kaunas City Polyclinic Occupational Medicine Center. The center carries out preventive health checks for employees or previous employment, issues health certificates for drivers or for people traveling abroad.

“ChestLink has helped speed up our preventative health check-up procedures. If the chest x-ray examination shows no abnormalities, the patient instantly receives a clean bill of health, without having to wait for the report at the polyclinic This improves the quality of service for patients, and also eliminates the routine work required to report on studies of healthy patients, ”- says the head of the medical imaging center of the Kaunas city polyclinic, Tomas Budrys.

ChestLink only produces reports for studies that the app is highly confident are free of abnormalities. According to data from Kaunas City Polyclinic, ChestLink can automate reporting of 26% of all chest X-rays in the medical facility. The application can report 40% of studies of healthy patients of Kaunas City Polyclinic with high confidence.

“Very often, more than half of the chest X-rays of patients in primary care centers show no abnormalities because these facilities perform routine health checks or are responsible for various population screening programs. This represents an ideal use case for ChestLink, which can generate immediate time savings for radiologists, while also improving quality of service for patients,” says Oxipit CEO Gediminas Peksys.

ChestEye Quality is also deployed at Kaunas City Polyclinic for AI-powered chest X-ray double reading. The app analyzes chest X-ray images and corresponding radiologist reports to identify unreported findings. If unreported abnormalities are found, the app notifies the reporting radiologist to take a second look and complete the report.

In last year’s study in Kaunas City and Seskine Polyclinics, ChestEye Quality identified 82 additional clinically relevant nodule findings. The app excels at detecting subtle cases – the majority of nodules in the study were under 15mm in size, often partially obscured by overlapping structures such as ribs/hilar area/heart shadow.

“At Kaunas City Polyclinic, we are receptive to innovations that can improve the quality of diagnostic processes and bring benefits to patient care. ChestLink has already proven itself in streamlining our prophylactic health check-up workflow. In addition, our specialists appreciate the second opinion of AI in identifying subtle pathologies that are difficult to spot” – adds Tomas Budrys.

According to the study’s data, nationwide adoption of AI dual-drive apps — for example, integrating them into national eHealth platforms — could help detect lung cancers at a much earlier stage, thus considerably improving the prognosis of patients.

Mantas Miksys
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Biden’s student debt cancellation plan won’t cut college costs, labor economist says Sat, 24 Sep 2022 20:01:00 +0000

Beth Akers started her freshman year at Ithaca College in upstate New York. But she had qualms about the debt she would incur at this private school, so she transferred to a less expensive public school: the University of Albany, the State University of New York, or SUNY.

“And the rest, as they say, was history,” Akers said in an email. “I was much more comfortable with the financial compromise.”

Akers is a labor economics expert and resident fellow of the American Enterprise Institute, a center-right think tank in Washington. She is a critical voice on the student debt crisis and advocates for reductions in college tuition and costs, saying federal college funding should be tied to the job prospects — and salary — of graduates.

She argues that college can be a huge boon for many graduates, as degrees lead to well-paying jobs.

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“But I also believe,” she said, “that it can’t be the only path for Americans to get the skills and education they need to be able to contribute to the economy and support themselves. financial needs.”

President Joe Biden’s recent debt forgiveness has put student loans and debt at the top of the national political agenda. The plan will forgive $10,000 to $20,000 in federal student loans for people earning less than $125,000 and couples earning less than $250,000.

Debt cancellation is estimated to cost the US government hundreds of billions of dollars. Proponents praise the plan as relieving some — or all — of the debt of some federal student loan borrowers. A request for debt cancellation is expected to be posted on the Ministry of Education website by mid-October.

Final rules on the plan have not been released and some believe it could be challenged in court.

Akers told The Inquirer she doesn’t think the plan is fair and it doesn’t address tuition. Below are his comments, which have been edited for clarity and brevity.

Q: What is your biggest concern about the Biden plan?

A: Without more systemic reform, [the government cancellation would help] some people who really needed help, but we also gave a lot of money to people who didn’t need it. And we have exacerbated the problem for future students. Because we will encourage more borrowing. We encourage institutions to raise prices, and this contributes to two of the deepest problems we have, namely tuition inflation and borrowing that does not match what is affordable.

A: People who didn’t go to college, people who saved, and people who spent in their savings account to go to college. People who have already borrowed and repaid these loans and people who have gone to cheaper colleges, to be frugal. So there are simply equity issues inherent in the way this bailout was crafted.

Q: But the Biden plan will help a lot of people, right?

A: I’m happy for the people who get money from this. I know this will change the lives of many people. Is this the best use of taxpayers’ resources? I do not think so.

A: So we are getting a waiver for individuals earning up to $125,000 and couples earning up to $250,000. I don’t think anyone earning at those levels is economically needy. By giving them a bailout, we are unnecessarily taking resources away from the people who need them most, whether through more loan forgiveness for those at the bottom of the income distribution or through spending on other social programs. which are actually progressive.

Q: Does this rebate program do anything to control college costs or future student debt?

A: No, and that pushes us in the opposite direction. My concern is that if we send the message to students that they don’t need to repay the loans they take out, we encourage them to borrow more, and they will pay higher prices. And those two things allow institutions to increase their prices at a faster rate than they already did.

Q: What’s missing from the Biden plan?

A: I would like to see us move to an accountability system for colleges…if you want to stay in the (federal) student loan program you have to prove that your graduates are earning money after they graduate, and they are able to repay the loans they get through this program.

Q: How do you propose to proceed?

A: What I’m offering is basically a guarantee on these loans. If you look at how mortgages are granted or car loans are granted, the lender assesses whether the loan is affordable and can be repaid. In higher education, specifically the federal loan program, we have no underwriting. We are simply saying that anyone can borrow any amount of money up to the maximum, if they are in an accredited institution. And I think that’s absolutely the wrong policy.

Q: Why didn’t this happen?

A: It’s not really a sexy idea for politicians to come out and tell their constituents, I’m going to reform college accountability and eliminate the credentialing system and use results-based accountability. It made no sense. At least, it wasn’t before President Biden’s decision to put this at the top of the national agenda.

Q: Give us an example of what you offer. The simpler, the better.

A: We look at each institution’s student debt and what [graduates] are actually able to pay. If it’s less than they borrow, then we reduce what prospective students at that institution can borrow. And maybe we have to keep reducing it and reducing it until it hits zero. And that’s fine with me.

Q: As an economist, do you think the federal government subsidizes colleges through the pardon program?

A: Oh, absolutely. Can you imagine if the government went out and canceled every car loan for a Jeep? That would be a huge boon for Jeep dealerships, wouldn’t it? Because the product they sell becomes, in essence, much cheaper.

Q: Is the problem that there are too many colleges?

A: I am agnostic about the number of colleges. What I think, though, is that we’ve told too many people they should go to college. We’ve done a lot of people a disservice by selling them the idea that college is somehow a necessary part of the American dream.

Boosting College Savings Rates – San Francisco Bay Times Thu, 22 Sep 2022 21:42:19 +0000

By Assemblyman Phil Ting–

September is Education Savings Month! To celebrate, ScholarShare529, a state-sponsored college savings plan, is offering a $100 bonus when you open an account by the end of this month with an initial deposit of $1,000 or more. Everyone can contribute afterwards. Watch the earnings increase; then, when the time comes, withdrawals for qualified college expenses are tax exempt at both the federal and state levels.

Why start? Research shows that kids with a college savings account of $500 or less are three times more likely to enroll in college and nearly four times more likely to graduate than kids with no savings.

With statistics like these, it’s easy to see the motivation behind another great program we just launched, the California Kids Investment and Development Savings Program, or CalKIDS. It fosters the mindset — even the expectation — of going to college, while helping families kick-start college funds with start-up funds from the state budget of the year. last and this year, totaling more than $2 billion.

College savings accounts will be automatically opened for all low-income California students in grades 1-12 and all newborns born on or after July 1, 2022. The California Department of Education and the California Department of Public Health will identify eligible children, which may include families on CalFresh or CalWORKS. There is no application required and there is no requirement that families make a financial commitment. The state-funded single repositories are as follows:

Up to $1,500 for 3.4 million school-aged children:

  • $500 Autodeposit: Eligible low-income public school students in grades 1-12;
  • Additional deposit of $500: for youth in foster care;
  • Additional deposit of $500: for homeless youth.

Up to $100 for newborns, regardless of income:

  • $25 automatic deposit: each eligible child born on or after July 1, 2022;
  • Additional deposit of $25: those who register through the program’s online portal;
  • $50 Additional Deposit: Those who link a new or existing ScholarShare 529 account to the CalKIDS account.

Although people cannot directly add money to a CalKIDS account, they can open a ScholarShare 529 college savings account to make their own deposits and then link the CalKIDS account to it. CalKIDS is managed by the ScholarShare Investment Board, which reports to the office of the California State Treasurer, ensuring that seed capital will grow safely.

When the child enrolls in a community or four-year college, or in a technical/vocational program, the state will send the money directly to eligible schools across the country and even abroad for educational expenses. student education, such as tuition, books, computer equipment, supplies, etc. The student must live in California for at least one year immediately preceding a distribution to a post-secondary institution. If the money is not used for college by age 26, the money stays in the fund for others to use.

I encourage you to register for a webinar to learn more about this new program. Earliest dates include: October 6 and 20, 11:00 a.m. to 12:00 p.m. PST. You can register through the CalKIDS website:

While there are over a hundred programs nationwide that open long-term savings accounts for children, this one in California will be the largest. As Assembly Budget Chair, it is exciting to think about our investment and the brighter future that the CalKIDS program has the potential to bring. A degree or special vocational training can open many doors, leading to good careers and upward mobility. Additionally, an educated workforce helps the state’s economy thrive.

Phil Ting represents the 19th Assembly District, which includes Westside San Francisco and parts of South San Francisco as well as the communities of Broadmoor, Colma and Daly City.

Posted on September 22, 2022

Why Emporia State laid off 33 employees Wed, 21 Sep 2022 07:09:29 +0000

Around 1:00 p.m. last Thursday, Dan Colson’s phone rang. The tenured professor of English at Emporia State University answered the call and was asked to report to an off-campus building owned by the university at 2 p.m. Little information was provided about the meeting.

With threats of job cuts in the air, Colson already sensed what was coming. When he arrived, Colson said, Emporia State administrators reading a script fired him. Suddenly, after 11 years at ESU, Colson was no longer a tenured professor, even though he and others will remain on the payroll and in the classroom until the end of the academic year.

Across campus, other Emporia State employees awaited a similar fate.

At 2 p.m., Max McCoy’s phone rang. The tenured journalism professor was asked to report to the same off-campus building at 3:00 p.m. McCoy’s experience mirrored Colson’s: He was fired by administrators reading a script with no explanation beyond a series of bullet points related to a workforce management. strategy.

This process played out repeatedly last Thursday and Friday as the depth of the recently approved workforce management strategy became apparent to employees who opposed the policy, who some say killed tenure in Kansas public higher education.

“A lot of teachers were crying. There were tears; there were expressions of sympathy and loss,” McCoy said. “It was a bit like attending a funeral in the department.”

But for struggling Emporia State, administrators see the cuts — 33 in all — as a path to viability. With enrollment declining and finances shrinking, officials believe the cuts will allow them to reinvest the cost savings back into the university, though details of those specific efforts have yet to be released.

The workforce management plan

The cuts at Emporia State have been a long time coming. In January, a university leadership team began thinking about how to address the financial and enrollment challenges facing the university. Then, in May, the Kansas Board of Regents extended a workforce management policy it had introduced during the coronavirus pandemic to allow cash-strapped state institutions to quickly lay off workers. employees. Suddenly, ESU leadership had a new mechanism to cut jobs, pending approval from the Kansas Board of Regents, which approved the plan on Sept. 14.

(The Kansas Board of Regents did not respond to a list of questions sent by Inside Higher Education.)

The workforce management policy initially had an implementation deadline of July 2021, which the regents scrapped in May. The policy, which is due to expire in December, states that “any employee of a state university, including a tenured faculty member, may be suspended, terminated, or terminated by their respective university.” The policy requires approval from the Kansas Board of Regents, which Emporia State received last week.

But Emporia State employees said Inside Higher Education that they had little notice of what was to come and had almost no time to comment before the plan was approved. ESU officials announced their intention to use the policy to eliminate an undetermined number of positions on September 7, with feedback from employees expected the morning of September 12.

“We held an emergency meeting of the Faculty Senate on [Sept. 9]; we passed a resolution reaffirming our beliefs in tenure and shared governance. This framework is an affront to both,” Colson said. “In addition, the Faculty Senate Executive Committee drafted a longer document addressing several issues related to both the process and the document itself. If I understand correctly, based on these comments, only one point has been removed from the scope. »

Critics also find fault with an appeals process, which lacks an element of discovery and which they consider rushed and inadequate. While terminated professors will stay on until the end of the academic year and receive a three-month severance package, they also note a stipulation that allows the university to put them on administrative leave or terminate them early, which they believe could be abused by officials.

The framework, as it currently stands, lists nine bullet points that can be used to terminate any ESU employee between September 14, when the Regents approved the use of the policy at ESU, and September 31. December, when it expires.

According to a copy of the framework provided by Emporia State, employees can be suspended or terminated based on a number of factors, such as “low enrollment; cost of operations; reduced revenue from specific departments or schools; current or future market considerations as to the need for a program or service; the restructuring of a program, department or school deemed necessary by the university; resource realignment; performance evaluations; teaching and research productivity; low service productivity.

Colson says the plan didn’t really change based on employee feedback.

“The comments from the professors were, I guess, a hoop that they thought they had to jump through before ending more than two dozen tenure lines and tenured professors,” Colson said.

Brent Thomas, dean of the College of Liberal Arts and Sciences and a member of the leadership team that moved the framework forward, notes that concessions have been made: A bullet point on employee conduct was removed following comments teachers.

But that change isn’t enough to appease faculty who see the implementation of the Workforce Management Policy as a mechanism to end tenure in Kansas’ public higher education.

“I know the university says they are not suspending the term. But hey, that’s what this plan does when you can summarily fire a tenured faculty member without having to go through any process other than saying, “Hey, you’re fired.” It effectively suspends tenure and academic freedom,” said McCoy, who has worked at Emporia State for 16 years.

The ESU leadership disputed the idea that they ended their term. Officials are more concerned about why the workforce management policy was even needed.

“The university has been experiencing declining enrollment, particularly in our on-campus population, for a number of years. Our financial situation has been deteriorating for several years. In the past, the university has chosen not to make difficult strategic choices and has chosen to move forward. And as a result of these past decisions, time is running out,” Thomas said. “We have very serious financial challenges in our future and in the not so distant future.”

The current cuts, according to Thomas, will avoid deeper cuts in the years to come.

“We had to do some things that we would have preferred not to do in a way that we would have preferred not to do due to the financial realities ahead,” Thomas said. “If we don’t act quickly and decisively, we risk wiping out many more people in the very near future.”

Employees also questioned whether the cuts were necessary, arguing that there are better ways to manage a workforce that give them more of a voice in the process.

Gary Wyatt, associate provost, dean of ESU’s honors college and member of the leadership team that advanced workforce management policy, said he understands the criticisms of faculty at respect to the cuts but maintains that the time to collaborate on an alternative solution has passed.

“I think [these cuts] could have been avoided two or three years ago, if political decisions had been made then about vacancies that had become vacant, decisions to shift resources to strengthen some programs and not others. So the faculty, from my perspective, are right, but these decisions should have been made at least two or three years ago,” Wyatt said.

Although employees have strongly criticized the short window for feedback, officials say the timing has been chosen to help those who lose their jobs get started on a new job search as soon as possible.

“The university labor market has a certain cycle, and the labor market is not always good, especially now. Any delay in making these decisions and notifying affected employees would have been notified later. And the later we leave, the less time they have to research and apply for other opportunities,” Thomas said. “So we really felt that in many ways moving quickly allowed our faculty to be as informed as possible in a tough job market where they would have the maximum amount of time possible to find work. other job opportunities.”

The future of post-cuts

The concerns cited by officials are not unique to ESU. Many other regional public universities face some of the same challenges with declining enrollment and shrinking finances.

While officials aren’t yet willing to share specifics, they say the deep cuts at Emporia State have a purpose, and they promise to reinvest the savings in a way that improves long-term institutional sustainability.

Critics are not convinced.

Colson said the plan reflected “right-wing fantasies about what higher education should be,” with cuts to liberal arts and sciences, which are often questioned by conservatives.

“I don’t believe it’s an economic solution, I believe it’s an ideological reorganization,” he said. “I think the people fired were a combination of things our current administration doesn’t like and people who challenged our administration. If you look at the list of those fired, it includes most outspoken people on campus, including just about every faculty member who has been quoted in local media recently about the executive.

Colson and others have also questioned the qualifications of ESU President Ken Hush — he is the only Kansas public college president without an advanced degree — and his ties to the corporate world, where he worked for Koch Industries, owned by Charles and David Koch, which contributed extensively to conservative and libertarian causes (David Koch died in 2019).

ESU officials said the idea emerged from a leadership team facilitated by Hush, but described it as a long-standing group effort. The cuts have run their course, they say, and now Emporia State can expect a reinvestment of resources, with details to be released soon.

“It’s perhaps understandable that people see this as just a cutting exercise, but it’s different from what we’ve done in the past. Because in the past we’ve made cuts to balance the checkbook, so we don’t overspend the dollars that we actually have,” Thomas said. “But when we make those cuts, the money is gone. What we’re doing now is different in that we’re being proactive in trying to make some of those tough decisions and then reinvesting the savings in a more strategic way that will help the university to be more sustainable and a better institution.

Alliance Finance launches its new corporate website and “AFC Hapannu” children’s savings accounts – Adaderana Biz Mon, 19 Sep 2022 02:54:01 +0000

Alliance Finance Company PLC (AFC), Sri Lanka’s oldest Non-Banking Financial Institution (NBFI) and the first company in South Asia to receive the prestigious endorsement of “A Certified Holistic and Sustainable Value-Based Financial Institution” , launched its new corporate website and ‘AFC Hapannu Children’s Savings Accounts’ on 15e September 2022 at the Alliance Finance Auditorium in Rajagiriya, in the presence of the members of the Board of Directors and the General Management of the AFC.

Ms. Tamara Dharmakirti-Herath, President of AFC, graced the ceremony as guest of honour.
Representing the Board of Directors at the event with the Corporation’s senior management. Mr. Ajantha Kumara, Commercial Director of AFC, welcomed the guests to the event.

The event kicked off with the introduction of AFC’s new corporate website –, in line with one of the company’s main goals of driving innovation and change. The website includes information about the company, investor relations, products and services, and sustainable activities. The President, CEO and Deputy CEO of AFC launched the website.

Alliance Finance has won the hearts of loyal and trusted customers throughout its 65-year history as the first NBFI to establish children’s savings accounts in Sri Lanka. To maintain the momentum and strengthen the product, the Company relaunched the “AFC Hapannu” Children’s Savings Accounts in order to create and reinforce the habit of saving among the country’s future leaders. “AFC Hapannu”, with its attractive interest rates and rewards program, will be available through the 86 Alliance Finance branches located throughout the island. During the launch, the members of the board of directors together with the AGM – Deposits, Ms. Champa Nakandala, presented their new “AFC Hapannu” passbooks to a few children and their parents. Alongside this event, “AFC Hapannu” accounts were simultaneously launched through the AFC branch network throughout the island.

AFC looks forward to continuing its unwavering journey towards a new era in the Sri Lankan financial industry, creating value for various stakeholder groups while focusing on its broader vision of making the world a better place through sustainable finance.

Timely Reports Incentive Grants Under Nasdaq Listing Rule 5635(c)(4) Fri, 16 Sep 2022 20:05:00 +0000

/EIN News/ — SAN CARLOS, Calif., Sept. 16, 2022 (GLOBE NEWSWIRE) — Oportun (Nasdaq: OPRT), a mission-driven fintech company, today announced that on September 10, 2022, it will had granted a total of 330,460 restricted stock units under the Oportun 2021 stock incentive plan to 56 new employees who joined Oportun. These incentive awards have a four-year vesting period and 25% will vest on the first anniversary of the grant date, with the balance vesting in twelve substantially equal quarterly installments thereafter, subject to continued employment. or service up to each acquisition date.

The incentive grants were approved by the Compensation and Leadership Committee of Oportun’s Board of Directors, as required by Nasdaq Rule 5635(c)(4), and were awarded as incentive material for use pursuant to Nasdaq Rule 5635(c)(4). ).

About Opportun

Oportun (Nasdaq: OPRT) is an AI-powered digital banking platform that seeks to make financial health effortless for everyone. Driven by a mission to provide inclusive and affordable financial services, Oportun helps its more than 1.8 million hardworking members meet their daily borrowing, saving, banking and investing needs. Since its inception, Oportun has provided over $14 billion in responsible and affordable credit, saved members over $2.3 billion in interest and fees, and automatically helped members set aside over $8.1 billion for rainy days and other needs. In recognition of its responsibly designed products, Oportun has been certified as a Community Development Financial Institution (CDFI) since 2009.

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A great way to save for your child’s education Wed, 14 Sep 2022 07:20:45 +0000
Confident mature African American mom helps her young adult daughter study for a college exam.

Sponsored ad

You’ve made saving for your child’s post-secondary education a priority because you understand that their education is the foundation of their career and future success. Now that they’ve graduated from high school, it’s a good time to get answers about Registered Education Savings Plan (RESP) withdrawal rules, limits, and tax strategies to make sure those savings are withdrawn with the best course of action.

When can funds be withdrawn from an RESP?

RESP funds can be withdrawn once the child has graduated from high school and officially accepted their post-secondary program offer from a qualified post-secondary institution.

What can RESP funds be used for?

RESP funds can pay for all educational costs at eligible post-secondary institutions related to:


What is a qualified post-secondary institution in Canada?

There are several options in Canada where RESP funds can be used, including:

  • colleges and universities

  • general or vocational college

  • business schools

  • religious schools

  • qualifying international schools

  • other establishments approved by the Minister of Employment and Social Development

What are the different types of withdrawals and the maximum withdrawal amounts?

There are two types of RESP education withdrawals, with varying maximum withdrawal amounts.

1. Post-Secondary Education (PSE) withdrawals are funds accumulated from Subscriber Contributions that come from after-tax funds. PSE contributions have no withdrawal limit.

2. Educational Assistance Payment (EAP) withdrawals are funds from investment earnings and government grants. In Ontario, government grants include the Canada Education Savings Grant (CESG) and the Canada Learning Bond (CLB). EAP withdrawals have a limit of $5,000 if the beneficiary is enrolled full-time and a limit of $2,500 if the beneficiary is enrolled part-time for the first 13 weeks. schooling. Once the 13 weeks have passed, any amount can be withdrawn.

How are RESP withdrawals taxed?

Withdrawals from the PSE portion of the RESP are tax exempt. Withdrawals from the EAP portion constitute taxable income for the student beneficiary, who, as a student, is generally subject to a lower marginal tax rate, since they generally have lower earned income and benefit from credits. tuition and education tax. Each student beneficiary cannot receive more than $7,200 in Canada Education Savings Grant over their lifetime.

What happens if RESP beneficiaries do not attend post-secondary school?

If the beneficiary decides not to pursue post-secondary education, there are options to consider:

  • Leave money saved in the RESP. Funds can be left in the plan for up to age 36, so you can leave the money as is in case the child changes their mind.

  • Replace the RESP beneficiary. In an individual plan, you can choose to designate another person as beneficiary. In a family plan, beneficiaries can share the grant and earnings. Either way, the money saved in the RESP can still be used to cover education costs.

  • Transfer RESP money to your RRSP. You can transfer up to $50,000 of non-taxable RESP income to your RRSP if the RESP has been open for at least 10 years, the beneficiaries are at least 21 years old and you have RRSP contribution room.

  • Close the RESP and keep your contributions. If you decide to close the RESP, the grant and bonds are returned to the government. You receive income if the plan has been open for at least 10 years and the beneficiaries are at least 21 years old.

  • Transfer RESP money to a Registered Disability Savings Plan (RDSP). Consider this option if the RESP and RDSP share a common beneficiary, the beneficiary has a severe and prolonged mental impairment that prevents them from completing post-secondary education, the RESP has been open for at least 10 years, the beneficiary is at least 21 years old and if the RESP has been open for at least 35 years.

FirstOntario Credit Union, in partnership with Credential Securities and Credential Asset Management Inc., has an experienced team of advisors specializing in various areas of wealth management, including retirement planning, investment management, estate planning and succession, individual financial risk management and more. These professionals are there to help you plan for the future and achieve your financial goals. Visit or call 1-800-616-8878 ext. 1700 to connect with a FirstOntario advisor and start growing your wealth today – your way.

Mutual funds, other securities and securities-related financial planning services are offered by Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered trademark owned by Aviso Wealth Inc. Mutual funds investment and related financial planning services are offered by Credential Asset Management Inc.

The Greenbelt Tour will take place on September 17 Sun, 11 Sep 2022 11:30:00 +0000
Attendees at a previous event. Photo by David Alden-St. Rock

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ESSEX – Cyclists wanting to visit as many Greenbelt properties as possible in one day can sign up for this year’s Tour of the Greenbelt.

The event will take place on September 17 and there are four different routes of 25, 40, 50 and 100 miles each.

“Cyclists will enjoy the routes that wind through scenic Essex County landscapes, passing more than 50 forever protected properties,” Greenbelt said in a statement. The organization has protected over 18,500 acres of land.

Rides are untimed and the 40-mile course is a “gravel-crushing” ride “suitable for cyclists with the right bike, which includes off-road excursions in protected forests and reserves.”

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The event begins at Greenbelt’s Cox Reservation, 82 Eastern Avenue in Essex, September 17 at 9 a.m.

Post-ride festivities include food from A&B Burgers (pre-ordered menu selection), drinks from Bent Water Brewing and music from Northwest Fox in the big tent.

Runners can pre-register at The registration day will also be open the morning of the event, from 7:30 am.

The primary sponsor of the 2022 Greenery Tour is the Savings Institution.

Be a budget-conscious bride with these money-saving wedding tips Wed, 07 Sep 2022 14:26:00 +0000

The key to not throwing your caution to the wind is knowing your budget and the number of guests, advises wedding planner Jove Meyer (via POPSUGAR). No matter what your dream wedding reception looks like, a cozy party around a bonfire on the beach, or in a glamorous venue that looks like it’s straight out of a Disney movie, you have to have a rough figure. And to make sure you don’t overspend, you should first establish an overall budget. After that, talk openly with your partner and family members to see who can participate and how much they can contribute to the wedding fund.

Once you have a rough idea of ​​how much you can spend, make a list of people you’d like to invite, using your budget as a benchmark. Throughout the process, you may want to narrow down the list to make sure you can afford the wedding. The easiest way to do this is to sort your guests into three groups; the must-haves (your immediate family and your best friends), the priority group (your colleagues and parents) and the negotiable (referring to those whose absence will not break the mood of the party). The science behind a rational guest list is that food and beverage expenses play a significant role in overall wedding costs. The fewer people you invite, the less money you have to spend on catering and other important things, suggests Hitched. Also, more people mean you need a bigger venue to accommodate everyone. Room rentals can also be very expensive.