Raddon Report

Raddon Report

tiffany.nunez
Tuesday, April 28, 2020
Bill Handel

Although there are differing opinions and predictions about the long-term effects of COVID-19 on the economy, there is one undeniable truth: Right now, the consumer is in quite a state of concern. The focus and actions of financial institutions over the next several months – and perhaps longer – will be critical to our economic recovery process.

tiffany.nunez
Tuesday, April 21, 2020
Jan Trifts

By:  Jan Trifts and Marcy Scanlin, Strategic Advisors

As the COVID-19 pandemic unfolds, financial institutions are forced to shift priorities and protocols quickly as they protect the physical and financial health of their employees, customers and members.

tiffany.nunez
Thursday, April 9, 2020
Marcus Rothaar

As many small businesses struggle to navigate the COVID-19 pandemic, financial institutions have an opportunity to step in and extend a lifeline to small business owners, many of whom are relying on their financial institutions to provide resources, insight and stability.

By proactively reaching out to small business owners, instituting provisions to provide them relief, and connecting them with local, state and federal programs, financial institutions can make a meaningful difference now and create long-term loyalty among small business accountholders.

tiffany.nunez
Tuesday, April 7, 2020
Eric Wittekiend

By Eric Wittekiend and Rebecca Oeltjenbruns, Center for Practical Management

In the first quarter of a typical year, leaders face any number of changes in their organizations: acquisitions, reorganizations, new product launches, new management structure. But the COVID-19 pandemic has added a new level of organizational change, combined with unexpected stresses at home.

Managers are critical to helping employees handle the worry, stress and anxiety they may be experiencing so they can move on to acceptance and productive engagement. But how?

tiffany.nunez
Thursday, April 2, 2020
Karen Kislin

In the midst of “stay at home” mandates and social distancing strategies to limit the spread of COVID-19, leaders of financial services institutions are facing new management challenges.

tiffany.nunez
Tuesday, March 31, 2020
Bill Jordan

As America adapts to upended social and professional norms due to COVID-19, many are anxious about a multitude of things, including their financial well-being. This is an opportunity for financial institutions to build trust, by reassuring customers, clients and members that their institution is both financially sound and ready to assist them in their day-to-day lives. 

Thursday, March 5, 2020
Bill Handel

2019 turned out to be a year of solid if not spectacular economic growth coupled with continuing challenges for our industry.  Earnings were stronger for many financial institutions even in the face of flat or even declining margins.  Loan loss experience was at historically low levels for many institutions, while others were beginning to see slight upticks in this area.  Challenges to non-interest income continue to be apparent as the younger generations find less value in historically strong contributors such as overdraft protection programs. 

Thursday, February 27, 2020
Becky Summers

Use targeted marketing to present the right offer to the right customers at the right time

Strong relationships are a significant strategic advantage as competition for customers and share of wallet increases. Fortunately for customer-focused financial institutions, those relationships can grow even stronger with data.

Thursday, February 20, 2020
Marcus Rothaar

When the Great Recession ended in June 2009, financial institutions and the consumers they serve were eager for brighter days, after living through a period of staggering unemployment, unprecedented decline in real estate values, record levels of foreclosures, and an implosion of automobile sales. While there have been 11 recessions since the end of World War II in 1945, none impacted the consumer or financial institutions as significantly as the 2007-08 financial crisis.

Thursday, February 6, 2020
Bill Handel

How did we do in our industry predictions for 2019?  Here are the predictions we offered up one year ago, along with an assessment of our foresight. Overall, our crystal ball was good, but with a few notable exceptions, which were due to the Federal Reserve’s reversal of its interest rate course.

Thursday, January 30, 2020
Bill Handel

One thing is certain: uncertainty

For credit unions, a major theme in 2020 will be how well they contend with uncertainty.

Ambiguity and insecurity will come from an evolving economic environment, emerging demographic concerns and nontraditional providers' entry into key product areas, including checking accounts by Google and credit cards from Apple. Contending effectively with uncertainty will become the hallmark of well-managed credit unions.

Here are three trends we're watching for credit unions:

Thursday, January 23, 2020
Andrew Vahrenkamp

More consumers are shopping for banking products online. Financial institutions that attract online shoppers have a lifetime of opportunity to gain.

Thursday, January 16, 2020
Becky Summers

Gathering intelligence is the first step in a successful campaign
 

Among the trends we saw in 2019, one theme was constant: The financial services industry is as competitive as ever. 

New technologies, channels and competitors continually disrupted the market, creating considerable noise for credit unions to break through. Nontraditional players forced credit unions to compete on multiple fronts – technology, lifestyle and branding – in addition to having competitive products and rates.

Thursday, December 12, 2019
Andrew Vahrenkamp

At the end of this year’s Raddon Conference, I had the unenviable task of synthesizing into a single digestible package all that we presented and shared over the three days. The following is my attempt to summarize this amazing event.

Thursday, November 21, 2019
Lynne Cornelison

Financial institutions are aware it’s ideal to have their non-mobile banking customers and members use mobile banking. Raddon Research Insights has thoroughly researched and published data-driven strategic considerations on the depths of satisfaction, loyalty and value mobile bankers bring to their financial institutions.

Wednesday, October 30, 2019
Marcus Rothaar

“Apple Card is here. A credit card created by Apple, not a bank. Built for simplicity, transparency and privacy. Apply now on your iPhone, and start using in minutes.” – Apple Inc.

Thursday, October 17, 2019
Karen Kislin

Regardless of the industry, slow economic recovery has led to a greater need for company efficiencies. Becoming more lean and agile is a common trend, which is placing higher expectations on the workforce – with fewer resources. Such expectations are creating the perfect environment for employee burnout.

Thursday, September 12, 2019
Andrew Vahrenkamp

It’s that time of year! Time to prepare for next year and to plan for the annual Raddon Conference, held in Chicago on November 4th to 6th. Given all the uncertainty about the economy and rate environment, we hope to shine a light on the way forward for you. Here are five big strategic questions for us to answer as we plan for 2020:

Wednesday, August 21, 2019
Marcus Rothaar

Each year, Raddon brings together many of the industry’s top leaders and visionaries to our invitation-only CEO Forum. This year’s event took place earlier this month in Dana Point, California, with more than 75 executives collaborating for two days of engaging and interactive discussions with their peers. Join us as we reflect back on some of the key takeaways from the 2019 Raddon CEO Forum.

Thursday, August 15, 2019
Andrew Vahrenkamp

It is difficult, if not impossible, to serve customers in any industry without understanding how they view your company, products and service. The customer experience (or member experience for the credit union industry) is paramount for ensuring repeat business, and as we know from our Performance Analytics program, institutions that get repeat business are most likely to be high performers.