Economic Update Examines Financial Well-Being for All Details

CUNA Chief Economist Mike Schenk takes an in-depth look into CUNA’s Financial Well-Being for All initiative in this month’s Economic Update video.

“In the old days, we could lean on anecdotes and stories and really advance the ball from an advocacy perspective by sharing those impactful stories. And we still need them and want credit unions to share those stories,” Schenk said. “On the other hand, we are increasingly seeing pushback from policymakers who want more than just stories. They want more than just traditional data like financial benefits and economic impact.

“Increasingly, they want to know how you are serving your members and how well you are serving people within your field of membership. That includes your members, but also those who are eligible who have not signed up to become members.”

Schenk also discusses how Financial Well-Being for All informs CUNA and League strategy, and how CUNA is approaching the initiative internally.