In case you missed Wednesday’s informational webinar where guest presenters addressed the economic and strategic issues affecting New York’s credit unions, it is now available on-demand on the New York Credit Union Association’s website.
During the webinar, participants heard from Brian Jones, an economist at the Federal Home Loan Bank of New York, who said economic activity is likely to rebound in the third quarter, but current estimates vary widely. “When all is said and done, GDP will probably clock in a little less than 5% lower than where we began the year,” he said.
Dr. Michael Hudson, a business strategist and founder of Big Idea Guru, LLC provided strategic questions and directions credit unions should explore as they plan for 2021, saying that current times are a “great time to look at things differently.”
He said that credit unions should take time to identify possible scenarios – best case, worst case and “someplace in the middle” to “rethink, redefine and refocus,” and to hone in on specific things to help engage and serve members.
“We are here because we serve; our value comes from serving them effectively,” Hudson said.
To access the on-demand webinar, as well as all previous membership webinars, visit the Association’s website.