Through independent research and innovation, the Filene Research Institute explores issues vital to the future of credit unions and consumer finance.
In a famous academic study researchers set up two displays of jams in a grocery store. One display had 24 varieties of jam and the other display had only 6 varieties of jam. During the study, the academics (presumably in white lab coats behind a one way mirror with clipboards) observed how many consumers stopped to sample the jams and how many consumers actually bought the jam at each display. The results…
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At Filene we often hear from our members, “Your research/ideas are great, but how can I apply them to my organization?” as a result we have decided to embark on a plan to help credit unions go beyond the research. By the end of 2009, Filene is looking to hire a limited number of talented advisors for the sole purpose of applying research and innovation ideas within credit unions. These 18 month projects include:
Interested individuals should submit a formal proposal (outlined in RFP) to research@filene.org by September 29, 2009.
More ...categories » Collaboration, CU Tomorrow, Filene News, Innovation, Research in Motion
Seriously…did you? Last week’s USA Today got as close as you can get to ranting about credit unions. While you can argue the merits, fairness and balance of the article’s treatment, the credit union system suffered some bad PR. I came away with one positive message for credit unions.
More ...categories » Collaboration, Philosophy and Values
Earlier this year, we teamed with the Michigan Credit Union League to explore a critical issue facing all consumer finance organizations: home foreclosures. The results of this work were two reports: one which outlined ten policy recommendations to decrease the number of foreclosures and another which focused on the concept of shared-equity loan modifications.
More ...categories » Economic Issues - Credit Unions, Economic Issues - Policy, Research in Motion
We recently released a paper examining the single financial services regulator question . This paper summarized existing research and viewpoints on a hot button issue for the credit union system. On June 17 the U.S. Treasury Department will unveil their regulatory plan which is receiving conflicting reports about the direction this plan will take. There seem to be two distinct possibilities: modest re-organization or massive consolidation of banking regulatory bodies.
More ...categories » Regulation and Deposit Insurance, Research in Motion
Last week, I had the distinct good fortune to attend a gathering of behavioral economists where the call was loud and clear for rethinking financial regulation.
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Today, it is commonplace to hear policymakers, industry participants and analysts speak about how our financial services regulatory system has failed us. Recent events have underscored this sentiment with unprecendented actions by the NCUA and the U.S. Treasury. To ensure you are informed about the issues and decisions ahead of us, this report explores the much anticipated reregulation of the financial services sector in the United States with a special focus on the impact a single financial services regulator may have on the credit union system.
More ...categories » Economic Issues - Policy, Life Cycle and Evolution of Credit Unions, Regulation and Deposit Insurance, Safety and Soundness
Ever wonder what’s on the mind of the credit union systems’ leaders? Here’s an unadulterated sampling of the Research Council’s final reflections from the most our most recent meeting earlier this month.
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Typically, Filene’s Research Council convenes twice a year to review proposed and soon-to-be released research projects. Considering the times we live in, the Spring Research Council meeting took on an open format with literally no agenda. Using this open approach, we simply posed the question: “What are the future opportunities and challenges for the credit union system?” to a group of progressive, industry leaders.
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