Prepare for 2019: Access ‘Your Economy’ eTrain Videos

Credit union panelists, keynote speakers, and representatives from the California and Nevada Credit Union Leagues who helped host the 3rd annual “Your Economy—Your Credit Union” Conference.
Credit union panelists, keynote speakers, and representatives from the California and Nevada Credit Union Leagues who helped host the 3rd annual “Your Economy—Your Credit Union” Conference.

Full-length videos from the “Your Economy—Your Credit Union” Conference on June 20 are now available for purchase as your credit union heads into strategic planning season for 2019!

Hosted by the California and Nevada Credit Union Leagues, this annual one-day recorded event provides economic and demographic context as credit unions plan for the upcoming new year during the August – October season.

Click below for various purchase/access options of the conference’s three individual sessions, including choices for Power Learner Passport (PLP) subscribers, League member non-PLP, and non-League members:

  • "After the Fires and Before the Storm: Recovery and Rhetoric in California, Nevada, and the U.S. Economies"
    (Dr. Robert Eyler, economist at Sonoma State University and board member of Redwood CU)
    Local jobs, workers, mobility, high-cost housing, and the California-Nevada residential migration connection. California and Nevada’s business/consumer response to the next economic recession. California’s legislative/regulatory issues and consequences of political posturing by governments. Cannabis banking, the communities it affects, and the “shadow economy.” Congressional tax reform’s impact on consumer spending and borrowers/savers.

  • "Can the Long, Long Recovery Get Longer?"
    (Dwight Johnston, chief economist for the California and Nevada Credit Union Leagues)
    Financial market volatility, bond market movements, inflation indicators, and the Federal Reserve’s future monetary policy. Valuable peer-to-peer insight as you head into strategic planning season later this year.

  • "Forces of Nature: Our Economic Response"
    (Credit union executive panel: Erin Mendez, Tony Hildesheim, Todd Sheffield, and John Cassidy)
    This special afternoon natural-disaster panel spotlights individual credit unions’ economic reaction and recovery efforts in the local community after a fallout from wildfires (Redwood CU and Patelco CU), floods or potential dam breaks (Sierra Central CU), earthquakes (Community First CU), hurricanes (Patelco CU), and other incidents impacting your members or local consumers.

In Their Own Words: Attendee Responses

  • Vons CU—“This conference provides value to our industry by dispelling a lot of noise in the economic news that’s coming out these days,” said Controller Hugo Sanchez. “It gave us a clearer picture of how the national and state economies directly affect credit unions.” He said the outlook for Vons CU is “very bright.” It recently added some major grocery-chain employer groups to its membership and is pursuing others, as well as branch additions to serve members better and provide shared-branching.

  • Antioch Community FCU—CEO Anna Tellez said the afternoon panel on credit unions’ economic response to natural disasters “was extremely eye-opening and very beneficial.” The credit union has a disaster recovery policy plan but needs to make some changes and additions. Regarding the local economy, the City of Antioch has an extremely competitive financial services space all competing for approximately 110,000 residents. “We’ve been in asset-growth mode recently, which is good,” Tellez said. “But we need loan growth the keep up with share growth. We are looking to target those businesses, individuals, and areas of the city that others have not penetrated.” Overall, the conference gave her a roadmap for picking up on the warnings signs of a future economic recession.

  • Alta Vista CU—CEO RaAnn Wood said the speakers dispelled some myths her board of directors have been debating, such as the false perception that an “exodus” of people are moving out of California, or that rising interest rates will have an immediate negative effect on housing prices. “We still see challenges for our membership, even with low unemployment rates,” Wood said. “We still have lower-wage earners who need transportation for getting to work, so rising interest rates will definitely impact how much they can qualify to borrow. Overall, our focus is on becoming more efficient and keeping expenses under control as we build capital.”

  • Chaffey FCU—For CEO Kevin Posey, the conference “provided some great insights for the next three years and will help us in strategic planning in the coming months,” he said. “Some of the information was more optimistic than other forecasts I’ve seen, and that helps shape a range of scenarios for strategic discussions.” He said his credit union faces the same economic issues that most face—a strong economy with good prospects, but a level of risk if that growth is not properly managed. “We’re seeing good deposit growth and have been able to begin restricting our balance sheet to focus on core member loans,” Posey added. “A strong understanding of the macro forces of this economy is essential in risk management as we build a stronger balance sheet.”

  • Redwood CU—Tony Hildesheim, CIO and a natural disaster panelist, said his credit union’s outlook also remains “very positive.” The credit union is maintaining course on its current strategy in tandem with various possible economic scenarios. “The information from the economists is vital in planning and strategy,” Hildesheim added. “It allows us to create a variety of stress tests and gives some indication on what we can expect.”

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