Kenny Stivers, General Manager at GenAspire, joined us in the Studio Lounge to discuss teenage banking and GenAspire's values-driven teen banking app and financial literacy program that's trusted by 2,200+ schools, designed for families, and built for credit unions​.

Specifically, Kenny talked about how financial literacy is crucial for teens, and innovative methods are being explored to engage them. He said credit unions play a key role in providing education, using gamified experiences to make learning enjoyable.

Kenny addressed the emphasis in this arena focuses on adapting strategies to ensure teens grasp financial concepts and build lasting relationships within the financial community.

Q&A summary
What unique approach does GenAspire take to engage teens in financial education?
GenAspire partners with schools to provide a hands-on, gamified financial literacy curriculum that allows teens to learn by doing while using a fully functional digital bank.
How does GenAspire differentiate itself from other youth-oriented banking apps?
Unlike other apps, GenAspire is a white-labeled service that works on behalf of credit unions, ensuring teens remain brand loyal as they transition to adulthood.
What is the significance of the financial literacy workshops offered by GenAspire?
These workshops are designed to engage teens through interactive learning, helping them understand essential financial concepts like saving and budgeting in a fun and relatable way.
What challenges does GenAspire face in educating teens about financial literacy?
A major challenge is combating misinformation from social media, but GenAspire encourages teens to seek out accurate information and develop their own understanding of financial concepts.
What role do school partnerships play in GenAspire's strategy?
School partnerships are crucial as they allow GenAspire to reach over 2,500 schools, providing free financial literacy workshops that directly engage students in their learning process.
How does GenAspire keep teens engaged with their financial education app?
The app incentivizes ongoing engagement by rewarding teens for setting and achieving financial goals, making learning about finance more appealing and relevant to their interests.


Check it out and let us know your thoughts. And be sure to watch all our Studio Lounge episodes from Filene's big.bright.minds on our episode archive page -- as well as visiting our sponsors who support our conference coverage: Filene, Origence, Abacus, Backbone, and "Despite Impossible" podcast.

Colin Horsford, Co-founder of Muse, an AI-powered tax and financial intelligence for a financial institution's platform, joined us in the Studio Lounge to talk about how the Muse technology empowers credit unions to automatically deliver personalized tax strategies and financial insights directly to members in order to maximize their financial wellness.

In particular, Colin discussed how his platform can drive deposits and member growth through financial transaction analysis and tax situation assessments. The service includes integration options and a chatbot for tax inquiries, emphasizing financial education and collaboration with CPAs to enhance individual financial well-being.

Q&A summary
What is the main purpose of Muse and how does it assist credit unions?
Muse helps drive deposits and member growth for credit unions by optimizing their finances and tax situations.
How does Muse optimize an individual's finances regarding taxes?
Muse analyzes transactions and paychecks to identify if individuals are overpaying taxes and helps correct those financial decisions.
What unique feature does Muse offer to answer tax-related questions?
Muse has a chatbot called 'Ask My Uncle Sam' that can answer financial and tax-related questions for users.
How does Muse help individuals manage their finances throughout the year?
Muse helps individuals redirect their tax refunds into credit unions, boosting deposits and encouraging better financial habits.
What kind of rewards does Muse offer to users for their everyday spending?
Muse provides cash back rewards for everyday spending at places like Target and Walmart, keeping money within the credit ecosystem.
How does Muse enhance the capabilities of CPAs rather than replace them?
Muse augments the abilities of CPAs by providing tools that help credit unions advise their members without replacing the need for professional advice.

Check it out and let us know your thoughts. And be sure to watch all our Studio Lounge episodes from Filene's big.bright.minds on our episode archive page -- as well as visiting our sponsors who support our conference coverage: Filene, Origence, Abacus, Backbone, and "Despite Impossible" podcast.

Louis Hernandez Jr, Founder & Chairman of Black Dragon Capital, stopped by the Studio Lounge to share his thoughts and highlights from his conference session on "The Digital Tsunami" -- which is the title of his new book, as well.

Specifically, Louis discussed how digitization significantly impacts various industries, especially finance. Adapting to advancements like AI, blockchain, and cloud computing is crucial for credit unions.

He also recognized rapid industry changes and developing strategies to enhance services are essential in today's fast-paced business environment -- with data being a valuable currency, and maintaining strong community ties while leveraging technology is important.

Louis strongly encouraged credit unions to embrace these changes to improve member services.

Q&A summary
What is the main theme of the book 'Digital Tsunami' discussed in the podcast?
The book serves as a call to action regarding the next wave of digitization in various industries, emphasizing the need for adaptation and leveraging technology to enhance community engagement.
How does the speaker relate the concept of AI to the financial services industry?
Louis highlights that AI is a transformative tool being actively deployed in financial services for tasks like predicting payment needs and loan origination, emphasizing its role in improving efficiency and service.
What are the potential risks associated with AI as mentioned in the discussion?
Louis notes that while AI offers significant benefits, it also comes with risks, including concerns about data privacy and the potential for misuse, similar to past technological advancements.
What does the speaker suggest about the relationship between data and consumer behavior?
Louis explains that data is crucial for understanding consumer behavior and tailoring services, asserting that it can enhance the customer experience if used responsibly.
What is the call to action for credit unions as discussed in the podcast?
Louis urges credit unions to recognize the rapid digitization of the industry, develop strategic plans, and leverage technology to better serve their communities and sustain their operations.
What historical context does the speaker provide regarding the evolution of technology in financial services?
Louis reflects on past predictions about the internet's impact on banking, noting that similar fears surround AI today, yet both technologies ultimately enhance service rather than replace it.

Check it out and let us know your thoughts. And be sure to watch all our Studio Lounge episodes from Filene's big.bright.minds on our episode archive page -- as well as visiting our sponsors who support our conference coverage: Filene, Origence, Abacus, Backbone, and "Despite Impossible" podcast.

Steve Greig, Senior Vice President Marketing & Communications at Redwood Credit Union, joined us in the Studio Lounge to share highlights takeaways from his conference session on "Creating Connection: Reaching New Audiences Through Influencer Partnerships."

In particular, Steve talked about how influencer partnerships are crucial for credit unions aiming to connect with younger audiences.

He provided an example of one of the credit union's successful collaboration with influencer Erica ,showcasing how social media can enhance brand visibility.

Steve addressed how authenticity in influencer marketing is essential, as it fosters community engagement and builds brand trust. Credit unions can expand their reach and effectiveness by aligning with influencers who share their values and exploring more partnerships in the future.

Q&A
What is the main focus of the session that Steve Greig will be presenting?
Steve Greig's session is titled 'Creating Connection: Reaching New Audiences Through Influencer Partnerships', focusing on leveraging influencer marketing.
What were the key data points that influenced Redwood's marketing strategy?
The three key data points were: only 3% of checking accounts opened by credit unions in 2024, the average age of credit union members being 50 years, and Chase spending $5 billion on marketing.
How did Redwood Credit Union measure the success of their influencer marketing test?
The test with influencer Erica resulted in a 75% increase in Instagram followers and drove 30% of traffic to their join RCU page within the first 24 hours.
What unique approach did Erica take in her influencer role for Redwood?
Erica shared her personal experience as a member and involved her daughter in opening a youth account, creating an authentic and relatable narrative.
What advice does Steve Greig offer to credit unions considering influencer marketing?
He advises credit unions to explore influencer partnerships that fit their size and audience, emphasizing that even smaller influencers can be effective.
How does Redwood ensure authenticity in their influencer partnerships?
Redwood looks for influencers who share their values and can engage authentically with their audience, rather than just focusing on follower count.

Check it out and let us know your thoughts. And be sure to watch all our Studio Lounge episodes from Filene's big.bright.minds on our episode archive page -- as well as visiting our sponsors who support our conference coverage: Filene, Origence, Abacus, Backbone, and "Despite Impossible" podcast.

Heather McKissick, President/CEO at CUES, stopped by the Studio Lounge to share highlights and insights from her conference session on "Stretch, Hold, Snap: Elastic Leadership for Mission-Driven Organizations."

Specifically, Heather talked about how elastic leadership is crucial for organizational resilience, requiring leaders to adapt and manage tension during challenges. She added that organizations must be flexible to thrive, distinguishing between merely bouncing back and being elastic.

Heather also discussed how preparation and maintaining slack are essential for a healthy organization. That said, leaders should embrace vulnerability and admit uncertainty to promote psychological safety and creativity in their teams.

Q&A summary
What is the significance of the term 'elastic leadership' in the context of mission-driven organizations?
Elastic leadership refers to the ability of leaders to adapt and guide their organizations through change and uncertainty, emphasizing resilience and flexibility rather than simply bouncing back from challenges.
What role does 'slack' play in maintaining organizational health?
Slack refers to having enough resources, time, and flexibility within an organization, allowing it to adapt and respond effectively to challenges without breaking under pressure.
Why is holding tension considered important for leadership?
Holding tension allows leaders to foster creativity and momentum within their teams, as it encourages exploration and problem-solving rather than rushing to find immediate solutions.
What is the difference between 'bouncing back' and 'elasticity' in organizational resilience?
Bouncing back implies returning to a previous state after a setback, while elasticity emphasizes adapting and evolving in response to new challenges, acknowledging that the old state may no longer exist.
How can leaders create psychological safety within their teams?
By openly discussing uncertainties and vulnerabilities, leaders can foster an environment where team members feel safe to express their ideas and concerns, enhancing creativity and collaboration.
What practical steps can organizations take to implement the concept of elastic leadership?
Organizations can conduct scenario planning, engage in disaster drills, and encourage open discussions about tension and uncertainty to build resilience and adaptability.

Check it out and let us know your thoughts. And be sure to watch all our Studio Lounge episodes from Filene's big.bright.minds on our episode archive page -- as well as visiting our sponsors who support our conference coverage: Filene, Origence, Abacus, Backbone, and "Despite Impossible" podcast.