Want More? Read more about the 'wonky' economy in the blog Wonkonomy.
In this episode…
[0:28] Meet Jack Imes
[2:41] Do you have any hidden talents?
[4:12] What is “wonky”?
[5:06] All of the financial institutions got caught flat-footed.
[6:55] We’re seeing credit card balances the highest they have ever been.
[7:52] FIs are budgeting for 5% growth [in 2024]. How are they going to get that 5%. That’s challenging in this market.
[9:00] How is technology affecting how FIs are positioning themselves moving forward?
[10:37] Credit unions are and should be proud of the fact that they are very cautious and conservative.
[12:40] What advice to you have to help FIs with their lack of liquidity?
[14:19] Are we out of the woods yet?
[14:43] With inflation and higher prices, at some point people are going to stop buying.
[15:48] It’s that repeatable approach to their members and communities so we can get through this together.
[16:06] I think we got lucky for a bit.
[16:45] I just want to avoid what they call the ‘R’ word [recession].
[17:21] We see credit unions do things that other financial institutions won’t.
[18:18] Remember, wonky doesn’t mean bad. Wonky is a great way to get someone’s attention.