FinovateFall 2014 - NYC. Finovate did not disappoint this year.
“An investment in knowledge, pays the best interest.” - Benjamin Franklin, The Way to Wealth, 1758
1 in 5 American students do not exceed a baseline of proficiency in applying their financial knowledge to everyday situations. In other words, young Americans struggle to understand the most basic of financial concepts, documents, and transactions that are central to personal financial management.
Prize-linked savings has been in the news a lot lately. (Here. Here. Again here.) The success of these programs drove eight states to pass bills that explicitly allow for savings promotion raffles. H.R. 3374: The American Savings Promotion Act, legislation to remove barriers to prize-linked savings accounts being offered, was introduced on October 29, 2013. This bill passed in the House on September 15, 2014 and goes to the Senate next for consideration.
Twenty credit union executives have joined Filene Research Institute’s i3 innovation program, which fosters the development of new ideas and innovations for credit unions. "This perfect storm of impacts requires that our industry adopt innovative thinking like never before. These i3'ers are going to lead the way," says Andrew Downin, innovation director at Filene.
We're looking for credit unions to test the True Link Card prototype—a tool to help elder members, their families, and their caregivers to prevent common sources of elder fraud.
Perhaps the most important governance decisions that a board makes deal with the board’s own composition. A board’s ability to add value is driven primarily by its success in identifying and attracting directors who are skilled, effective, engaged and available. Please help Filene study this important topic by participating in this governance survey.