#299: Why the 'Coming Credit Card Boomlet' is a wide open door for CUs -- Aite Group's Ron Shevlin explains (pt.2)...
Ok, we're back with part 2 of our chat with Aite Group's Ron Shevlin, who also writes the award-winning blog Snarketing 2.0, about "How Millennials Manage Their Money" and why credit unions need to open their doors to "The Coming Credit Card Boomlet" from those very same Millennials.
All this info stems from Ron's observation of the storm clouds looming on the credit union horizon if they can't pay attention and notice Millennials' surprising financial behaviors for future success. Once again, this talk is filled to the grande brim with key insights and first-hand data from Mr. Shevlin's recent analysis work.
Are credit credit unions missing the boat here? Are they too complacent or too wrapped up in regulations to fully address Millennial money management behaviors? Or are they on top of this issue and prepared to execute to capitalize for continued success down the road? Watch and find out -- and let us know your thoughts on this hot topic. Where is your credit union?
When it comes to Millennials and their money, there are plenty of experts out there willing to divulge their knowledge on the timely topic. Whether what they are saying is fact or fiction remains to be seen. Aite Group's Ron Shevlin, however, cuts to the chase when discussing such matters based on his extensive, first-hand research. Those of you who read Ron's award-winning blog, Snarketing 2.0, know what I'm talking about when I say he "cuts to the chase."
Ron's a realist, whether you like his takes on various topics or not. This pragmatic, and many times tongue-in-cheek, approach is why Ron's content is widely read, used, and footnoted in reports and presentations throughout the financial services industry.
In our two-part chat based on his recent report, "How Millennials Manage Their Money" -- along with the looming storm clouds on the credit union horizon, credit unions need to sit up and take notice regarding Millennials' surprising financial behavior (See his June 2014 report: "The Coming Credit Card Boomlet".). This talk is loaded like a Taco Bell Tostada Suprema with golden nuggets of knowledge o'plenty that CUs can use to prep for a prosperous future -- giving them a leg up attempting to harness those highly sought after younger generations.
Many thanks to Mr. Shevlin for taking the time to talk with us. Now it's time to get out your pad and pen and take notes. Enjoy! And let us you know your thoughts on this ever-popular topic.
Risk-Based Capital dominated the deluge of discussions at the 47th Annual NAFCU Conference held in Las Vegas, NV, a week or so ago. But so did payments, technology, security, and a myriad of other timely FI topics at this yearly gathering of credit union folks.
Feeling a little insecure and left out, we decided to pack up our camera, mics, and lights and ventured to this town that never sleeps -- oh wait, that's New York. But nobody sleeps in Vegas either -- especially when you have all those vital issues to cover. That's enough to keep you tossing and turning all night -- and the fact that you won $350 at the roulette table, devoured one or two of Gordon Ramsey's BURGRs, and saw the Blue Man Group show for the 12th time.
So without further delay, here's our "nearly complete coverage" of NAFCU's 47th Annual Conference from the Venetian in Las Vegas. (Still can't believe they have a gondola ride on the SECOND floor of the hotel.) Enjoy -- and many thanks to the folks at NAFCU for their hospitality. And sorry for cutting of the top of your head, Dan. Bad framing.
Short on time? Watch our abbreviated trailer below...
Mike Lawson, Host
Married 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.