News
CUNA Economist Will Pitch “Double-header” at 80th League Annual Meeting — 4/1/16
PARKERSBURG, W.VA.—Mike Schenk is a “half-glass-full” kind of economist. Despite past economic downturns and historic low interest rates affecting credit union ROA, he is optimistic about the future of credit unions. The CUNA Economist doesn't rely on a crystal ball, but on historic economic data that provides meaningful insight, while making educated predictions about the future.
“We are excited about having Mike Schenk speak at our 80th Annual Meeting in April,” commented League President Ken Watts. “Mike has been with us in the past and has always been a favorite among our attendees. He is able to present economic facts and figures in a meaningful way that resonates with our credit union audience,” Watts explained. Schenk’s Economic Update will be the featured keynote presentation during the Friday morning educational session at the Embassy Suites on April 22.
Schenk will return in the afternoon with a review of the CUNA whitepaper, Five to Thrive: Strategic Guide for Small Credit Unions. The whitepaper, released last year, provides useful tips and case study on how smaller asset sized credit unions can become more competitive. Schenk is the staff liaison to CUNA’s Small Credit Union Committee which meets regularly to discuss common challenges and opportunities.
“Smaller credit unions reflect significant financial and operational challenges despite a recovering economy,’ Schenk emphasized. “The sad fact of the matter is that we continue to lose roughly one credit union per business day to merger – a total of 1,300 throughout the U.S. over the past five years. There’s no silver bullet that will reverse these trends – that’s painfully clear. But it’s also clear that more can be done to foster small credit union sustainability – and the unique position of credit unions as financial services cooperatives can be a powerful springboard,” he added.
Former credit union CEO turned author, and speaker, John Tippets will be the featured Friday luncheon speaker with his Hearts of Courage presentation. Following lunch, former CUNA and NCUA staffer John McKechnie will be on hand to provide a legislative and regulatory update in a Q&A discussion format with League President Ken Watts.
At the conclusion of Saturday’s awards breakfast sponsored by League partner CO-OP Financial Services, former American P.O.W. Jessica Lynch will address the group and share her dramatic story on overcoming obstacles in the face of adversity. On March 23, 2003, Lynch was injured and captured by Iraqi forces after her unit was ambushed in Iraq. She was rescued after nine days in captivity on April 1, 2003 by U.S. special operations forces. Jessica’s rescue was the first successful rescue of an American POW since World War II.
The 80th League Annual Meeting Official Call has been mailed out to all member credit unions and is available to view online.
Since 1938, the West Virginia Credit Union League Annual Meeting has become an annual spring tradition that joins together credit union officials and staff to forge new friendships, celebrate their cooperative heritage, and to recognize achievement among staff and volunteers.
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