CUInsight Weekly Minute with Robbie Young – February 11, 2022
Our favorites from the week in sixty seconds.
Welcome to the CUInsight Minute, sixty seconds from our Associate Publisher Robbie Young with our favorite reads from the week
Mentioned:
The value of thinking broadly about leadership learning
Being committed to talent development helps credit unions successfully execute their missions. Here’s how this idea extends to the charitable organizations that CUs support
by JOHN PEMBROKE, CUES
Leadership matters because leaders who inspire extraordinarily performing teams are the ultimate advantage for any organization—whether that organization is a business, a nonprofit or a sports team.
In this article from Inc. magazine, author Lee J. Colan, Ph.D., acknowledges that it might be hard to believe that one factor can have such a profound impact on performance. But, he notes, our daily experiences—and plenty of research—prove over and over that inspiring leaders boost organizational success.
Co-founder of The L Group, Colan cites a study “of 30,000 leaders that found the top 10% of leaders generated twice the net income as the middle 80%. The study also identified one critical competency that distinguished the top tenth percentile of leaders from the rest: the ability to inspire and motivate others to high performance.” [read more]
Inflation and how it impacts your credit union
Things have been good economically for so long it’s hard to imagine a time when they weren’t. Even in the face of a devastating global pandemic, asset prices performed well and delinquencies and defaults have trended in the right direction.
As a result, demand continued to outpace supply. Demand for building materials and contractors became so high that work wasn’t getting done. Demand for vehicles is so high that their values have started to appreciate! What we’ve recently seen is a general increase in the price of goods and services and a fall in purchasing power, commonly known as inflation.
Inflation hasn’t been much higher than 2.5% over the past 10 years, but rose dramatically in 2021, hitting 7% in December. That’s the highest it has been since June of 1982. [read more]
Where does innovation reside this year in the credit union space?
From Segmint’s Data Jam Session titled, “Using Your Data for a Competitive Edge.”
by Segmint
Ready to learn directly from peers and experts in the financial services space? Segmint’s “Data Jam Sessions,” are a refreshing, live, collaborative, micro-learning experience. A mashup between a podcast, a panel, and a roundtable discussion, Segmint invites a small group of professionals in the fintech and credit union space to discuss today’s current industry issues, and how to solve them.
To kick off the series, December’s Data Jam Session titled “Using Your Data for a Competitive Edge,” included a wide array of topics:
- Hot industry issues and how to use data to solve them
- 2022 credit union trend predictions
- How to ensure your team’s strategy is data-driven
- Tactics for digital channel spend, combating attrition, and outplaying the competition
Below is a snapshot from our industry experts related to trends, predictions and innovation for credit unions this year. Catch the entire session here. [read more]
