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Filene: The Blog

Ushering In 2015: Lessons Learned From the Past Year

According to Capgemini’s World Retail Banking Report (WRBR), less than 40% of customers globally reported positive customer experiences with their financial institution in 2014. This signals a tremendous opportunity for your credit union to build on 2014’s successes to further improve the member experience in 2015. 

Failure, Future and Cooperative Finance

When we joined the Filene Research Institute’s prestigious i3 (Ideas, Innovation, Implementation) Group in late 2012, we were excited. That’s because we were invited to join a group of peers and colleagues from credit unions across North America to focus on innovating concepts, solutions and advancements in service of credit unions. And we didn’t mean to, but we started off by breaking some rules.

Edward A. Filene Social Media Maven

Edward A. Filene Social Media Maven

Edward A. Filene once said, "Advertising, then, which is the voice of business, must become primarily the Voice of the Consumer, which is a tremendously greater and more important role than it has ever played before." 

How Personality Traits Influence Saving Behaviors: Regulatory Focus Theory

How Personality Traits Influence Saving Behaviors: Regulatory Focus Theory

http://www.thisiscolossal.com/2011/04/new-currency-origami-from-won-park/Encouraging savings is a start, but you should also understand why your members are saving. Sometimes people save against a rainy day (prevention), and sometimes they save so they can vacation in Florida and avoid rainy days (promotion). Those of us who analyze often convoluted consumer behavior know there is a strong link between psychological factors (such as values and beliefs) and saving goals. In this latest research published in the International Journal of Consumer Studies, I studied the efficacy of Regulatory Focus Theory to understand how prevention- vs. promotion-oriented personality traits influence financial decision-making.

Brain Food from big. bright. minds. 2014

Brain Food from big. bright. minds. 2014

Dial up the heat. Tucson was even hotter than usual last week as credit unions from across North America landed at Filene's annual big. bright. minds. 

You can tell the groups apart easily: i3 innovators huddled in corners, obsessing over slides that would show -- in 10 minutes or less -- the results of six months of hard work; research council CEOs wore jeans (jeans!) because their board chairs weren't there; and Crashers from the young professional roamed in packs and made everybody else feel old. They all came for brain food, and they got it. Even if you couldn't come, dive into the slides below. And make your plans now to join Filene for next year's big. bright. minds. in Cambridge, Massachusetts.

Edward A. Filene and Economics

Edward A. Filene and Economics

Edward A. Filene once said, "Why shouldn’t the American people take half my money from me? I took all of it from them." 

The Next Generation and Edward A. Filene

The Next Generation and Edward A. Filene

Edward A. Filene once said, "There is always a little injustice, a little lack of sympathetic understanding, in the criticism one generation passes upon the practices of its predecessor." 

Sustainable Thinking and Edward A. Filene

Sustainable Thinking and Edward A. Filene

In Edward A. Filene's 1926 book The Way Out he states, "I have always dealt with matters of social justice, cooperation, general welfare, not on the basis of philanthropy or paternalism, but as essential factors in the development of successful business". 

Deep Thoughts by Edward A. Filene

Deep Thoughts by Edward A. Filene

In 1924 Mr. Filene said, "The moment a business ceases to be an experimenter and comes to regard itself as an expert, it may be sure that dry rot has set in."