Workshop Discussion Topics
At the upcoming workshops, we’ll examine ways in which your credit union can improve performance, achieve sustainable growth, and position your organization for long-term success.
Some of the key areas we’ll be exploring include:
- Effectively managing risk: How can credit unions effectively manage the variety of risks that exist in today’s environment, including the economic risks of recession, deposit concentration risks, diversifying non-interest income and sustaining payments revenue, margin risk with rates once again dropping, the risk of over-relying on indirect growth, demography changes, attracting and retaining qualified employees.
- Thriving in a pre-recessionary environment: We’ll discuss what the next recession might look like, and what credit unions should be doing now to prepare their organizations and members for a possible economic slowdown.
- Dealing with continued earnings pressure: While reviewing your credit union’s financial trends compared to your peers (including those in your State and asset tier), we’ll talk about strategies for managing the cost of funds, finding new sources of non-interest income and effectively leveraging your investments to improve organizational efficiency.
- The impact of demography changes in the United States and what it means for your credit union: Managing the diverse needs of your membership as the 65+ age cohort is in the midst of significant growth due to the size of the Baby Boomer generation. At the other end of the age spectrum, we’ll explore some of our recent research on Gen Z, who are just now entering the financial mainstream and are showing different tendencies from their Millennial predecessors.
- Managing deposits in a fluctuating rate environment: As the Federal Reserve is in the midst of lowering interest rates, it is critical to develop a cogent deposit strategy which addresses both short term liquidity concerns but also addresses the longer term issues regarding deposits, such as the generational transfers which will accelerate over the next ten years. We’ll explore strategies and tactics to grow core funding, and highlight key steps to develop a sustainable deposit strategy.
- Diversifying loan growth: While indirect auto lending has driven significant household growth for the industry in recent years, it is generally not a path to deep relationships. We’ll discuss ways that credit unions are achieving growth in core lending areas such as real estate, credit cards, and direct autos – and strategies to compete with major banks and fintechs to win your fair share of the market. We’ll also explore how large of a threat the Apple Card may be to your credit union.
- Payments and channel risks and opportunities: We’ll discuss remaining relevant in a quickly changing payments landscape, and keeping pace with consumers changing behavior and expectations in P2P and mobile wallets.
- Characteristics of high performing credit unions: What are the keys to success and common attributes that we see among higher performing credit unions? Which of these attributes might be things you can deploy at your credit union?
The key element of this part of the program is the audience discussion. High performers are identified and tactics to improve growth and performance are discussed in an open forum. While discussion is voluntary, these sessions tend to result in a high level of interaction among participants and provide new insights, strategies, and tactics that participants are able to implement at their own financial institutions.