Musings from the CU Suite

Compiled by Anthony Demangone, Powered by NAFCU

NAFCU’s Annual Conference – Engage 2023 – is BACK!

I haven’t been to Long Beach, CA, so I’m looking forward to the visit. I’m going to see the Queen Mary. The Aquarium of the Pacific.  Attempt to look cool on the waterfront.  Oh, and Guy Fieri visited five restaurants in Long Beach. Boom! I hope to see you there.

• What’s on tonight? (Godin)
• Goldman sees U.S. house prices falling 5 to 10%. (Calculated Risk)
• FFIEC updates cybersecurity guide. (NAFCU Today) Remember, FFIEC = NCUA.
• The power of “third places.” (Tik Tok)
• Heavy truck sales up 20% YOY. (Calculated Risk)
• You’ll have to open your checkbooks to get consumers to change FIs. (Gonzo Banker)
• Mortgage volume drops to 25-year-low. (Mortgage News Daily)
• Weekly unemployment claims decrease again. (Calculated Risk)
• The state of grocery retail. (McKinsey) Interesting correlation to what we’re seeing in FI.
• How to target the best consumer segment for revenue growth. (FB)
• Why Mr. Beast turned down $1 billion for his YouTube Channel. (Gary Vaynerchuk) When Penn State beat Auburn, more than 4 million people watched the game. It was the most-watched game that week. Mr. Beast’s YouTube Channel has more than 100 million subscribers. Marketing is shifting under our feet.
• Office markets are the real estate crash to be worried about. (Bloomberg) But also see… Retail Real Estate  is enjoying its biggest revival in years. (WSJ)
• Is having too many choices the real problem for consumers? (Behavioral Scientist) One point of data – a CU CEO told me that they reduced the options of credit cards that they offered. Credit cards took off. Fewer choices. Easier cross-selling by staff. Curious if you have seen anything like that.