Sessions -- 2019 Inclusiv Conference
Home | Sessions | Presentations | Speakers |Sponsors & Exhibitors |
Annie Vamper Helping Hands Award | 2020 Save the Date
MONDAY, SEPTEMBER 16, 2019
Site Visit to SCE, Boyle Heights Branch
Diana Dykstra, Cathie Mahon
TUESDAY, SEPTEMBER 17, 2019
Immigrants: Driving Economic Growth for Local Communities and the Nation
Bob Annibale, Marcela Celorio, Joe Duran, Linda Lopez, Manuel Pastor, Cathie Mahon
By 2060, the US Hispanic population will reach 111 million, representing nearly one-third of the US population. With more than $1.75 trillion in purchasing power today, the magnitude of Hispanic’s economic contribution is reflected in the revitalization of communities across the nation. This contribution can be significantly amplified with public policies that foster integration in local economies, promote access to resources, support entrepreneurship, and increase access to asset building tools through credit unions committed to serving Hispanic consumers. The City of Los Angeles, a founding member of Cities for Citizenship, and the Consulate of Mexico in Los Angeles are leaders in financial capability and work closely with Inclusiv’s Juntos Avanzamos program. Leveraging the impact of the Hispanic community will transform your credit union, your community, and the nation as a whole.
Diversity, Equity and Inclusion: The Credit Union Industry's 8th Cooperative Principle
Monica Davy, Carla Decker, Pam Owens, Angela Russell, Samira Salem, Maurice Smith
Every new generation becomes more diverse than the prior one. Our industry must evolve as the country is evolving in terms of culture, ethnicity, race and gender. Expanding our cooperative principles to include diversity, equity and inclusion represents the ultimate affirmation that these concepts should be embraced and that our industry welcomes everyone. It’s time for our industry to better reflect the people we serve. A focus on diversity, equity and inclusion is also an opportunity to advance economic justice, human dignity and community development in the communities we serve.
Morning Breakout Sessions
Building Wealth and Achieving Stability Through Homeownership
Daniel Garcia-Velez, Thomas Settino
Low and moderate-income homebuyers represent the most underserved segment of the mortgage market. Homeownership in minority communities continues to be a dream for many: only 47% of Hispanics and 43% of African Americans are homeowners. In contrast, 73% of Non-Hispanic Whites own a home. This session will cover many aspects of the mortgage and non-conforming housing market, from products to effective homeownership counseling programs to access to liquidity to meet loan demand while managing your balance sheet. A well-designed mortgage program can help increase earnings, drive growth, and provide long-term sustainability to members while also making a big community impact.
Using Technology to Engage a Younger Consumer
Carlos Garcia, Noelle Hylton, Fernanda Martinez
Social media and mobile advertising are highly effective for marketing to younger generations of consumers. They work best when there’s a clear social element and engagement strategy where products or services are not necessarily being pushed to the audience, but rather the content offers “teachable moments” that the viewer can then connect to the product or service being offered. FinHabits, a fintech start up that seeks to promote long-term savings habits in low and moderate income consumers has used social media to reach 60,000 participants in 3 years. The lessons learned will provide useful insights to any credit union considering how to develop or fine-tune their social media strategy.
Helping Members Save: Workshop with Common Cents Lab on Tools to Increase Savings
Nearly half of all people living in the US would not be able to live off their savings for 3 months at the poverty level. The Common Cents Lab focuses on solutions that address common but avoidable intention-action gaps: many households want to put a little money aside, but month after month, don’t manage to do it. The Lab builds and tests financial interventions that help low-income consumers make better financial decisions, and has worked with several credit unions on topics ranging from “Saving Moments” around tax time to the type of messaging most motivating for savers. This is a working session designed to help you build member savings based on behavioral insights and tested strategies for increasing financial security.
Presentation from MyPath Youth Counselors
Alexis Moore, Amadeos Oyagata
Understanding the Product Development Life Cycle
Kimberley Parsons, Heather Powell
Capital One’s Tech College is hosting a 2-hour Product Development Life Cycle workshop. This interactive experience will guide you through the product development process - from concept ideation through validation to development. You’ll gain fluency and awareness of the key business and user considerations that relate directly to the product development process, enabling you to confidently and effectively articulate a business problem and identify solutions to address and execute on that problem.
Reaching Rural Communities
John Bissell, Kathy Deloney, Joe Schroeder, Ed Sivak
Twenty percent of the US population lives in rural communities, which often have limited choices in financial institutions. Many of the states with the largest rural areas also have significant numbers of people of color living in these financial deserts. With limited banking choices, consumers in rural areas are more vulnerable to predatory lenders. This session gives visibility to the challenges facing credit unions serving people separated by geography , including the underserved in persistent poverty areas of the South, on reservations and among migrant workers, and provides solutions for reaching, lending to and improving the financial lives of people in rural communities.
Sharpen Your Digital Strategy: Digital Trends Shaping the Financial Sector + Going Digital – a Credit Union Case Study
Susie Brins, John Haslam, Stef Luck, Teresa Manning
Digital technologies are a strategic imperative for growth, but only 25% of financial services companies consider themselves “Digitally Mature.” The growth of fintech continues to have a massive impact on the financial services and insurance industry. Disruption has caused incumbents to double down on optimizing the customer experience, but embracing new technologies can be confusing and disorienting, as change often is. Join us for an exploration of the major digital trends impacting the financial sector, and a perspective on strategies to operationalize these complex topics to engage with customers and in more meaningful ways. Technology for technology sake will fail without meeting the customers where they are with the experiences they have come to expect in engaging with brands they trust. All credit unions are grappling with the challenge of how to make their service more digitally accessible and convenient and to maintain the relevance of their service as the public increasingly expect to be able to access their services online. This session presents a case study of Clockwise Credit Union in Leicester, which has adopted a pioneering and innovative approach to the digital challenge with impressive results – learn how they approached the digitization of their services and how you might do the same.
WEDNESDAY, SEPTEMBER 18, 2019
Annual business meeting for Inclusiv member credit unions.
CDFIs: Conduits for Scaling Impact
Promoting community development is an important function of the Federal Reserve system. Through a variety of programming and analysis, the New York Fed seeks to help advance economic mobility and resiliency of communities across the Second District. In 2017, the New York Fed launched the Community Development Initiative (CoDeFi), which has become the driver for the work the FRBNY has done in partnership with Inclusiv to aid in the rebuilding and economic revitalization efforts that CDFIs are doing in Puerto Rico. The New York Fed is now launching Investment Connection, a platform to channel resources between socially responsible investors and CDFIs.
CDFI Fund Update with New Fund Director Jodie Harris
With nearly 300 CDFI certified credit unions and collective assets of more than $100 billion, CDFI credit unions provide services to more than 10 million primarily low-income consumers. These institutions aren't defined by asset size or FOM, but by their commitment to financial inclusion and community development. This update will cover new developments at the Fund, 2019 funding levels, and the value that CDFI certification provides to our industry, particularly in the areas of advocacy and community impact.
Annie Vamper Helping Hands Award Luncheon
Sponsored by CUNA Mutual Group
Morning Breakout Sessions
Combating Payday Lending: Policy and Practice
James Hunter, Lucia Mattox, Winona Nava, Dawnnesha Smith
Payday lenders have become ubiquitous in low- and moderate-income communities. As mainstream financial institutions make small dollar loans more difficult to get or simply do not offer them, a growing number of people are being pushed to use abusive options. The problem is compounded by income volatility and the correlation between income and net worth. Low-income people’s median credit score is only 664. This session explores how credit unions can respond to this challenge that is also an opportunity. Supporting legislation to ban payday lending is critical, and shows that we are ready and able to combat abusive lending practices, important to our industry from both from a business and mission perspective.
Strengthening Micro and Small Business in Latino Communities
Martin Guerrero, Rob Meloche
Latino micro and small businesses are greatly overlooked by the financial services industry. The nearly 4.4 million Latino-owned businesses in the United States contribute more than $700 billion to the American economy every year, according to a study by the U.S. Hispanic Chamber of Commerce. Latino-owned companies have grown 31.6 percent since 2012, more than double the growth rate of all businesses across America (13.8 percent), the USHCC reports. Yet this growth has taken place despite the lack of access to financing opportunities and financial tools available to the business community. This represents a huge opportunity for credit unions, but they first must provide effective solutions to their payment processing needs. VISA and Square offer solutions and resources that credit unions can offer to establish a long-term relationship with micro and small businesses. That foundation can open the door for financing opportunities as well.
The CDFI Fund and You: Continuing the Conversation
Amber Kuchar-Bell, Terry Ratigan
The CDFI Fund is working closely with partner institutions to make smart improvements that will increase the strength, reach and impact of CDFIs. In the past year alone, the Fund has worked with Inclusiv to address the concerns of community development credit unions and – most notably – to expand support for CDFI cooperativas in Puerto Rico. Please join CDFI & NACA Program Manager Amber Kuchar Bell to hear what’s new with CDFI Programs and discuss your members, your community, and your experiences with the Fund. This will be a highly participatory session, so come prepared with your comments, questions and suggestions.
Bridging the Wealth Gap: Platforms and Tools from Mission-Driven Fintech Innovators
David Derryck, Margaret Libby, Cathie Mahon, Sarah Sable
As financial cooperatives that deliver returns to their members rather than shareholders, credit unions are uniquely positioned to bridge the growing wealth gap between “haves” and “have-nots.” But we are not alone in this work. The powerful new force of financial technology is beginning to transform our financial system. Can we leverage this moment of change to ensure that the needs of historically underserved communities are met with well-designed financial services that build wealth? Can fintech increase financial inclusion and reduce growing inequality? A growing movement of mission-driven fintech innovators believe it can. But greater inclusion and consumer financial health are not guaranteed outcomes of the fintech revolution. As nonprofits working at the intersection of financial technology and financial inclusion, these innovators will discuss how to leverage technology to build a financial system where consumers, regardless of their income, wealth, race, age, gender or location have access to affordable financial products and services. And in partnership with Inclusiv and the network of community development credit unions we can build tools that help generate economic stability and mobility.
Opportunities to Scale Up Community Development Efforts and Impact in Financially Underserved Areas
Aurelio Arroyo, Blake Jones, Jack Lawson, Rob Miller, Richard Romero
Brainstorming sessions to explore collaborative strategies for credit unions to leverage capacity and expertise to amplify their impact: commercial development projects; partnerships and loan participations. Inclusiv is also spearheading a conversation around clean energy and the role that credit unions can play to promote the adoption of energy efficiency technologies and alternative energy sources to help low and moderate income households become more economically sustainable and their communities more resilient.
Methodology for Small Credit Union Sustainability and Growth: Lessons from the Field
Deborah Boatright, Gregg Brown, Andrea Lally, Gloria McClendon, Sheilah Montgomery, Greg Perryman
Join veterans of small credit union leadership and consulting as they share expert insights and lessons learned from firsthand experience successfully driving credit union growth, leveraging strategic planning to bolster credit union sustainability, and introducing new products and services to better serve their members. In this interactive workshop, participants will explore ways small credit unions can plan for the future, with a strategic planning discussion focused on credit union operations though board development, lending, and community outreach through partnerships.
Creating New Opportunities with the Juntos Avanzamos Framework
Jim Coronado, Adam Lee, Erin O’Hern
The US foreign-born population reached a record 44 million in 2017. Since 1965, the number of immigrants living in the U.S. has more than quadrupled. Immigrants today account for nearly 14% of the US population, the highest percentage in over a century. The majority of immigrants, 76%, are in the country legally, while a quarter are unauthorized. This immigrant market is ignored by most financial institutions and represents an opportunity for credit unions to make an impact and drive growth. This session explores how Juntos Avanzamos provides an effective, market-proven framework to meet the needs of this segment in the US, half of which is made up by immigrants from Latin America.
THURSDAY, SEPTEMBER 19, 2019