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Filene: The Blog

The Accidental Credit Union Member

The Accidental Credit Union Member

I made $5.00 an hour when I was 9. Every Friday afternoon my mom would take me in to work with her to clean my uncle’s office building. After our strenuous workday, my mom and I would head over to the bank right down the road. It took a couple years of maturing and a few jobs later before I even noticed that the bank I went to wasn’t actually called a bank but rather a credit union.

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Why Not to Apply to Filene i3

Why Not to Apply to Filene i3

Why wouldn’t you want to apply to be around a bunch of energized, amazing professionals that are working toward something greater than oneself? Well, there might be a few reasons. It's going to be uncomfortable. You'll have to do things you're not ready to do. It's a lot of work. You'll gain weight...

But I think you'll find what's in the intersection of what's unexpected and what you're passionate about is all the more reason you'll need to say yes to Filene i3.       

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Filene @finovatespring 2017 - Day Two

Day two at Finovate Spring 2017 was packed with an additional 24 organizations who got a chance to demonstrate their solutions. Most of the themes from day one continued. Ease of use was king including biometric authentication to simplify the process, big data integration, investment solutions, and more big data and machine learning applications.  

The evening of Day One, we had the opportunity to host a CU Dine Around. Credit union folks had a chance to interact with each other in a relaxed environment, away from the vendor hall, and have a meaningful conversation of what they had observed during the sessions and build camaraderie by meeting a new friend of two.

To read more on what we thought the highlights of day two were, ckick here.

Awkward Family Finances

Awkward Family Finances

Sometimes families are just plain awkward. This awkwardness can take the form of family portraits, the “birds and bees” talk or a surprisingly common family activity: borrowing and/or lending money to each other.

What if your credit union could take the awkwardness out of one of these, and meet people's needs in a simple, cost effective and affordable manner? That’s exactly what we are trying to do with "Bank On Family."

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Filene @finovatespring - Day One

The first day at Finovate Spring in San Jose, CA is in the books! 36 promising start-ups had seven minutes each to demonstrate their solutions live in front of more than 1,500 attendees.  Often times at there is a theme or commonality that emerges throughout the day.  Not this year as pitches were across the board with startups pitching solutions for data security, to identification authentication, to customer engagement platforms.

Financial Education isn’t Working

Financial Education isn’t Working

Financial illiteracy is more pervasive than we think and education alone isn’t enough, according to Academic Director of the Global Financial Literacy Excellence Center (GFLEC), Professor Annamaria Lusardi.

While a credit union's efforts to provide financial education to their members is done with best intentions, many hurdles to the desired outcome stand in the way. The good news is, there are many solutions we (and others) are testing right now that credit unions can offer members to help reach financial success.

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We Are Smarter Together

We Are Smarter Together

60 credit union leaders convened last week in Palo Alto, California to kick off our annual research colloquium with Filene Research Fellow, Huggy Rao, a professor at the Stanford Graduate School of Business. What follows is a summary of the meeting, links to presentations and additional information. A more in-depth report of the proceedings will be available shortly. 

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Stronger Than Stones; Reflecting on Women’s Leadership in Credit Unions

Stronger Than Stones; Reflecting on Women’s Leadership in Credit Unions

My grandmother was not only one of my biggest mentors and supporters in life, but she was also a historian and a genealogist. During Women’s History Month I often find myself thinking about her and how she influenced my life. She frequently told me that the women in our family were born with “stones in the base of our spines.” This was her message of quiet strength that to this day I remember when times are tough.

Filene Research Institute did a series in coordination with the World Council of Credit Unions and the Global Women’s Leadership Network on women in leadership within credit unions. 

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Larky Helps Credit Unions Tackle Growth and Relevancy Challenges

Larky Helps Credit Unions Tackle Growth and Relevancy Challenges

I'm pretty good at buying shoes. I do it a few times a year, have a pretty solid idea where to shop and what's going to feel comfortable on my feet. 

Buying a car is the other end of the spectrum for me. I've only done it twice in my life. It feels overwhelming and intimidating. When I last purchased a car, I was so focused on the car itself, negotiating a price, and making sure that I could still play all of my mix tapes, that I hadn't thought much about how I would finance my purchase. The dealer was happy to help guide me toward financing, but my credit union wasn't an option they suggested.

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Slaying the Debt Dragon

Slaying the Debt Dragon

National student loan debt has reached more than $1.3 trillion, with 44 million borrowers. This type of debt differs from other types of debt such as home mortgages, primarily because borrowers don’t often see the full picture of what their debt will amount to and the impacts that it may have on their lives until it’s too late.

But your credit union can be the hero -- the financial partner -- your members need now. By signing on to test Debt Dragon, you can help your members tame the beast of student loan debt.

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