When the credit union movement gets in your blood, it stays in your blood -- and it even gets handed down to future generations from time to time. A very unique example of this occurrence is the mother/son CEO duo of Diana Michaels, CEO of Western Healthcare Federal Credit Union, and Brandon Michaels, CEO of JSC Federal Credit Union.
Both Diana and Brandon joined us on the show for a candid conversation how they help each other excel in their jobs as leaders of their respective credit unions, how Diana's credit union career influenced Brandon growing up, as well as the issue of the future of smaller credit unions today. This was a very special conversation on multi-generational credit union leadership at its finest. Check it out and let us know your thoughts. #1111: New Kony Index Survey Looks to Bridge the Digital Chasm for Financial Institutions...7/22/2019
According to Kony's new Digital Experience Index Survey ("The Digital Chasm"), businesses worldwide have invested $5 trillion in their digital transformations -- and yet many are still missing the mark meeting consumers' digital needs. In fact, the survey reveals that 47% of consumers will consider switching providers if businesses don't deliver the digital experiences they demand and expect.
This is the world we live in now and we invited Kony DBX Executive Vice President and General Manager Jeffery Kendall on the program to discuss some of the survey's many, timely takeaways to help businesses (FIs in this case) retain their audience. Jeffery also detailed six key steps companies can take to set a new agenda for an improved ROI from future digital investment. Check it out and let us know your thoughts.
Many recent studies have shown that nearly 40% of Americans do not have $400 saved to cover emergencies. That is an astounding number for a country whose economy is hitting on all cylinders right now -- and has been for the last few years. Spending money wisely is fine, but you have to balance it with a bit of savings, too.
One credit union is doing just that by helping its members adjust their behaviors to become super savers. Patelco Credit Union has recently launched a pretty cool savings campaign called "Play. Save. Win.," leveraging gamification to boost its members' savings rates -- while giving away $100,000 to incentivize its members in the process. Joining us on the show to explain how the program works, along with benefits, goals, etc., is Patelco's Senior Vice President/Chief Retail Officer Melissa Morgan. Melissa gives us the inside scoop on "Play. Save. Win." and some advice to other credit unions looking to launch similar savings programs to help their members build comfy nest eggs for the future. Check it out and let us know your thoughts.
CUNA Mutual Group just released its July 2019 Credit Union Trends Report based on May 2019 data. Listed below are a few highlights from the report:
Check it out and let us know your thoughts. And stay tuned for the next CUpdate.
NAFCU Director of Regulatory Affairs Ann Kossachev took time from her busy schedule to share the latest news regarding NCUA on CECL, CFPB’s recent rule making on payday loans, as well as other items on NAFCU’s regulatory agenda for 2019 credit unions need to be aware of. Check it out and let us know you thoughts.
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Mike Lawson, HostMarried to a beautiful and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple. Categories
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