(Albany, NY) – Credit union leaders heard from investment experts, economists and industry leaders during the Credit Union Association of New York’s 2012 Economic Forum last week. Despite the ongoing impact of Hurricane Sandy, more than 100 attendees from New York, Massachusetts, New Jersey and Rhode Island made it to Albany for the event.
The Economic Forum kicked off Thursday morning with opening remarks from Association President/CEO William J. Mellin and a presentation titled “Investing in an Uncertain World,” led by Kristina Muller and Gregory Perry of Balance Sheet Solutions.
Perry emphasized how we are in and will continue to be in, a low-rate environment. He also noted that, in light of the current financial climate, it is important for credit unions to pay extra attention to their balance sheets and investments, and not sit on a substantial amount of cash.
“The information provided throughout the Forum was timely, as we are developing budgets and programs for 2013,” commented attendee Marilyn Marra-Crolick, CEO of Focal Point FCU.
Thursday afternoon, attendees had their choice of three concurrent breakout sessions. With topics including liquidity, a 2013 economic outlook and risk management, the sessions spurred both thought and discussion.
On Friday, two key presenters addressed the group: Alloya Corporate FCU’s resident economist, Dr. Nick Perna; and keynote speaker Mark Sievewright, president of Credit Union Solutions at Fiserv. Perna focused on how Federal Reserve policies will impact credit unions in the future, and Sievewright challenged attendees to adapt to changing consumer preferences and industry innovations.
“I thought that Dr. Perna and Mark Sievewright were both entertaining and engaging,” said attendee Lisa Whitaker, president/CEO of CFCU Commuunity FCU. “I, along with two executives from CFCU, discussed many of the points raised during our car ride back to Ithaca, proving that the time spent out of the office was worthwhile.”
Networking was also an essential component of the event, thanks to a Thursday evening cocktail reception and group lunches both days.
The Credit Union Association of New York has served as the trade association for the state’s credit unions for 95 years. New York credit unions have assets of more than $57 billion and serve 4.6 million members. To learn more about the Association, visit www.cuany.org.