Posts

Showing posts from January, 2019

Do Miracles Really Happen?

Image
On the morning of January 19th, 2009, 150 passengers boarded a routine flight from New York La Guardia airport headed to Charlotte, NC.  As the plane climbed from the runway it collided with a flock of geese near the airport, critically damaging both of the airplane’s engines.  Captain Chesley “Sully” Sullenberger applied over 19,000 hours experience to safely land the A320 aircraft on the surface of the Hudson.  The tenth anniversary of what has now become known as “The Miracle on the Hudson” was just observed a week ago, celebrating the heroism of the crew and the fact that all 155 passengers and crew survived what should have been a catastrophe.  We call it a miracle because we all know that outcomes, like the one above, are rare to say the least.
Typically, when any decision maker is faced with a number of simultaneous system failures, it represents a crisis.  The success of any business rises and falls on the ability of leadership to manage crises.  These situations are rare, un…

Five Ways Credit Unions Can WOW Younger Millennials and Gen Z’s

Image
By Michael Cochrum, CUBI.Pro

Recently, my wife and I successfully launched our last child into adulthood.  I’m proud to say that all five or our children are college educated and gainfully employed in professional jobs, four are home-owners two are married, and they all own their own vehicles.  Anecdotally, I would say they have cracked the mold of how many researchers would categorize ‘millennials’.  This is one reason why I hesitate to generalize in this sense, but one thing that has stood out among my millennials is an extremely minimal understanding of personal finance and how to interact with a financial institution.  Perhaps, this is our fault as parents, but who’s to know whether they would have listened to us in the first place.  This lack of awareness makes it difficult to differentiate a credit union from any other financial institution.  But, if I’m right, this creates a unique opportunity for credit unions to build a high-level of trust with these younger adults by concent…