BAI’s Managing Director Karl Dahlgren joined us on the show to share some research their organization conducted on how credit unions can improve digital banking capabilities for Gen Z.

Karl revealed what  Gen Z wants to see in banking capabilities -- enhancement to the mobile channel and faster payments and money transfers. He also included a few other highlights, as well:

• Nearly half, 48%, of Gen Z respondents indicated their willingness to pay for additional services.
• Gen Z engages more with their financial services organizations than other generations, averaging 68 monthly interactions. The most common channel is mobile banking with 11.2 monthly interactions.
• Gen Z also has more branch or drive-up interactions per month than other generations.
• Gen Z desires faster payments or transfers followed by automated savings as their top choices for how financial services organizations can help them manage money.
• 67% of Gen Z currently uses the same financial services organization as their parents, but more than two-thirds are willing to switch if they find one that is more innovative.

Check out our conversation for more details and let us know your thoughts.

Payments platform PayNearMe analyzed hundreds of thousands of bill payments made by U.S. consumers during the COVID-19 crisis between March 1 and April 17 to explore what consumer bill payment activity can tell us about their priorities, habits and behavior during the first months of shelter-in-place orders.

To get these insights, we invited PayNearMe Jill Bohlken on the show. Jill detailed some of the "Consumer Bill Pay Trends During COVID-19" report's top findings:

• Payment volume through the PayNearMe network rose dramatically — up to 40% above our expectations based on historical volumes — after the first stimulus checks reached consumer bank accounts.
• Debit card and ACH payments skyrocketed to nearly 50% above expectations days after the stimulus program direct deposits began.
• The largest increases relative to our expectations were for rent and auto loan repayments.
• In-person cash payments persisted, suggesting their necessity in spite of social distancing and shelter-in-place mandates.

Check it out and let us know your thoughts.

Deep Future Analytics CEO and Chief Scientist Dr. Joseph Breeden returns for part 2 of our conversation on the COVID recession model -- will it be a V, U, or W?

In this discussion Joseph talks about how AI will play a part in the recession model and the re-opening of our economy. He also touches on when businesses open up, will people show up. And lastly, what does all of this mean for credit unions and the impact on their members.

Another gem of a conversation with Joseph and his deep thinking on the future of finance -- in his beautiful backyard in New Mexico. Check it out and let us know your thoughts. And if you missed part one of our conversation, check it out here.

Digital Growth Institute’s Founder and CEO James Robert Lay stopped by the CUbroadcast virtual studios to share his new book hot off the presses: “Banking on Digital Growth: The Strategic Marketing Manifesto to Transform Financial Brands.”

Naturally, we asked James Robert why he wrote it, as well as providing key takeaways, goals he looks to achieve, and how he sees it benefiting today’s credit union marketers -- especially in these challenging times emerging from the COVID crisis.

James Robert talked about his book being presented in 3 sections:

1. Establish a strong foundation for digital growth
2. Build digital growth engine
3. Maximize digital growth potential

He also discussed the four fears that commonly hold back financial brands from fully committing to their digital growth journeys:

1. Fear of the unknown
   
2. Fear of change
   
3. Fear of failure
   
4. Fear of success

A very timely book, indeed. Check out our conversation when you get a chance and let us know your thoughts -- and don't forget to order it today.

During this time of crisis where "shelter at home" and "social distancing" orders have taken hold, most of us have involuntarily become quite the experts using Zoom and other video conferencing platforms. It's actually kind of exciting to use these tools to remain in contact with our peers, families, and friends.

The folks at Local Government Federal Credit Union have taken face-to-face video conferencing to another level by live streaming their Annual Meeting on Vimeo Live (something we here at CUbroadcast use, as well). We invited Local Government's President Mark Caverly on the show to share why they went this route, how they did it, member feedback, advice for other credit unions, and much more.

Mark added that the Annual Meeting turned into an event to remember, as the credit union really wanted to do this production right. They had pre-recorded videos, National Anthem, Q&A, polls, a greeter, etc. He says they will most likely keep this format for future meetings and events, making them a hybrid of in-person and online viewing and participation.

Another really cool and creative story from credit unions continuing to step up in challenging times. Check it out and let us know your thoughts. And, if you want to get a peek at what it looked like, here is a recording of the live stream meeting.