Four Conference in Four Days

I just got back from a great trip. I attended four very different conferences in four days all in my timezone!

1) IT governance course in Vancouver

I took my first formal course as a new credit union board director. It was an IT governance introductory course offered by CU Source held in Vancouver on the first day of the Credit Union Central of Canada 2012 Canadian Conference for Credit Union Leaders (yes, that is the longest conference title ever). As information technology is now the second largest expenditure at most credit unions – human resources is typically the largest – it's becoming more and more important for board members to have a deeper understanding of what's going on with the technology in place at their credit union.

Take aways: The course was a good overview, if not a little basic. The focus was more about risk mitigation versus using technology to serve members better. I suppose this will always be the case in such a heavily regulated industry, but I couldn't help feeling that the typical, cautious wait-and-see approach contradicts the notion that credit unions are smaller and, therefore, more nimble. Because most credit unions now out source so much of their IT systems, they can't be nimble – they are at the mercy and time lines of large, expensive and slow-moving vendors that have hundreds of financial institutions to service. In Canada, we're starting to see the big banks really take the lead on implementing technology tools like mobile banking and personal financial management. On a positive note, I think a smarter, more connected board is a really good thing and I appreciated the overview.

2) Filene i3 in San Francisco

I was in invited by the Filene Research Institute to be guest at the i3 group presentations. What's i3? "Ideas, innovation and implementation. Filene i3 is a work group of innovative, insightful and energetic credit union professionals who have not yet reached the CEO level, but are in a position with substantial responsibility. This creative group reflects diversity in experiences, credit union positions, geography and credit union membership. i3ers strive to be transformational leaders in building the future of credit unions and to create new ideas, innovate and implement for the benefit of the credit union industry."

Eight i3 teams, made up of three to five credit union employees, presented their finished projects to an audience of approximately 75 people.

Take-aways: It was encouraging to see the Filene i3 model in action. The credit union industry is old and largely stuck in its ways, but here is a group of people working hard to disrupt and reinvent the credit union movement from the inside out. There were two expert panels made up of accomplished entrepreneurs, scholars and academics that provided feedback to four groups each. Each expert added insightful advice couched with fairly gentle criticism. The ideas were solid, but not necessarily ground-breaking or fully baked. This is to be expected – i3ers are volunteering time outside of their jobs and day-to-day lives.

3) FinovateSpring in San Francisco

I attended the first day of FinovateSpring. Imagine 63 companies all given seven minutes each to demo their working solution to a crowd of more than 1,200 connected critics. No PowerPoint. No faking it. Here are the words that come to mind. Huge. Intense. Fast-paced. Overwhelming. Impressive. Too much. Future. Innovation. Awesome demos and products. So-so demos and products. Zuckerberg-like, T-shirt-wearing geeks rocking their demos. A few ex-bankers trying to be cool, but instead come off slightly awkward on stage.

Take-aways: Going in, I was nervous for credit unions. I was thinking that I was going to witness enormous disruption aimed at toppling incumbents. This wasn't the case. Instead, what I saw was highly polished companies with amazing software looking for partners, investors, clients and distribution channels. These start-ups are well funded with millions sunk in development and now they are looking for a return. Most were pitching the financial institutions in the crowd to implement their white-label solutions. Here are the best of show winners as determined by audience vote (in alphabetic order):

• BehavioSec for its new security layer based on user typing/swiping patterns
• BillGuard for its card charge dispute platform, BillGuard FI
• Dwolla for its FISync service to enable banks to originate real-time payments
• iQuantifi for its new financial planning and advice tools
• MoneyDesktop for its PFM platform and integrated "deals"
• Personal Capital for its iPhone app and interbank funds transfer
• SoMoLend for its P2P lending platform

It was good to see a large contingent of credit union people there, thanks, in large part, to Filene. 

One sobering note: I was struck by the contrast between the i3 pitches and the Finovate pitches. Finovate is the big leagues. The solutions presented were fully baked and ready for market. You could tell that millions upon millions of dollars had been spent before anyone stepped on stage. The demos showed that the best technology minds in the fintech space are feverishly working at solving big problems. These firms are not regulated and are not stuck in their ways.

This is not a new wake-up call for credit unions – it's the same song I've been singing for years. But what was new for me was how in my face this reality was at Finovate. These solutions are real and they're spectactular! My hope is that credit unions get onboard and partner with the best solutions to offer their members more compelling reasons to stick around. I think Filene is well positioned to facilitate this connection between Silicon Valley and the credit union industry.

4) NCGA Marketing Matters in Portland

For my last stop on my whirlwind Westcoast tour, I was the keynote speaker at the National Cooperative Grocers Association Marketing Matters conference in Portland, Oregon. I did two talks:

1. The Young & Free Story
2. Integrated Social Media Marketing

Take-aways: I learned that there are a lot of parallels between credit unions and cooperative grocers. Shared challenges include awareness and understanding, selling member shares, economies of scale and confusion with competitors – community banks for credit unions and Whole Foods and Trader Joe's for cooperative grocery stores. And wouldn't you know it, cooperative grocers are also finding it difficult to attract Gen Y! I attended the reception on day one and it was like being in a credit union parallel universe with such similar conversations!

The highlight was someone telling me, "I can't believe you made me cry about overdraft fees." Ha!

In this International Year of Cooperatives, there seems to be a heightened realization that credit unions are cooperatives and that there is potential for cooperatives of different stripes to work together. This is a good thing.

I ended my second talk with some fun. Check it out (and pardon my shaky iPhone camera work).

Tim

SXSW and credit unions part 2

I knew my South by Southwest Interactive experience was going to offer more than "How to get more likes on your Facebook page" or "10 tips for better blog writing," but I didn't know how deeply the experience would make me think about the challenges that credit unions are facing and the opportunities that credit unions have in front of them.

It is getting harder and harder to make a noise and stand-out. Everywhere I turned there were start-ups, Internet companies and established brands performing stunts, wearing oversize space suits, flying banners, giving out food and drinks, driving around in buses with live bands on top, and handing out tons of stuff in the form of cards, hats, shirts, posters and passes to exclusive parties (and by exclusive, I mean anybody with a heart beat and a SXSW badge was a VIP). And this was all in the physical world. In the online world, new apps and services where being buzzed about and promoted like mad in a race to become the next SXSW poster child like Twitter and Foursquare.

I found all of this instantly forgettable. I was a nobody at this conference, and yet, I had free food and entertainment every night from companies that I can't remember the names of. Not because I was drinking, but because my eyes, ears and mind where so over stimulated that everything was mashed together.

SXSW is clearly a microcosm on steroids, but it points to that fact that we are inundated with so many marketing messages everyday that we tune out. Even the really interesting stuff can't get through. 

The importance of storytelling 

A major theme that I took away from my SXSW experience is the important role that storytelling plays in being able to rise above the noise. Ron Shevlin has often said that, "Your brand is the stories your customers tell about you." This couldn't be more true. There were a couple of sessions on this theme that I attended that really pointed to possible ways to break through on an emotional level.

Branded Documentary

Description: Procter & Gamble recently commissioned Flow Nonfiction to create a documentary film capturing one of its signature cause programs: Pantene Beautiful Lengths. PBL has donated over 272,000 ponytails for real-hair wigs to the American Cancer Society, and also generated significant ROI for the brand itself. How and why has the program succeeded in making good on doing good? Through communication innovation, like branded documentary film. Marketers and filmmakers, your union is at hand. Film-driven campaigns are setting a new standard of authenticity and ROI. PR and digital agencies are leveraging branded film assets through interactive, integrated campaigns – building brand platforms and driving user-generated content. Read more about the session.

Here's the film to give you an idea of what this is all about.

Why this matters to credit unions: I believe the challenge of marketing low-end, consumer shampoo would rank right up there with marketing banking in terms of sheer difficulty. Both categories are undifferentiated and not particularly memorable. However, as you can see from this branded documentary example, Proctor & Gamble has not only created a wonderful cause in Pantene Beautiful Lengths, but they've brought it to life with care and dignity in this terrific film. Plus, Pantene has significant built-in distribution channels with a large Facebook and Twitter following, a decent blog, a public relations engine and a significant national advertising budget.

Could credit unions do this? Potentially, but credit unions themselves are not a cause. There are organizations like the National Credit Union Foundation and the Real Solutions program that are involved in creating and capturing meaningful stories. Perhaps this is a place to start.

Whether collectively or individually, credit unions would really have to dig to unearth the deep, meaningful stories within their membership and then have the means and audience to get their branded documentary seen. The filmmaker, David Modigliani, talked about the importance of production value and that the current trend of shaky user-generated video that has become the norm is no match for professional-level production and storytelling. This obviously comes at a significant cost.

A great point made by the panel was that people must connect deeply with your cause and the cause that you are backing must align with what your brand physically delivers in the real world. Plus, there must be a universal climax to the story. In the case of Pantene Beautiful Lengths, it is that cutting moment. The point is not to exploit something like breast cancer and chemotherapy, but to celebrate humanity that transcends blattant marketing. Again, I am unsure if credit unions have a universal "cutting moment," but the session and the branded documentary concept were very intriguing.

Multiplatform stoytelling

Description: While the academics preach of the wonders and promise and “mechanics” of “transmedia” storytelling, there are pioneering producers on the ground really doing it. There are good days and bad. There is money and there is not. And then there are the fans. What does it take to pull off successful multiplatform storytelling?

We are at the birth of a new industry, an inflection point, much like the history of film or radio or television or even the Internet where technology gives rise to a new means to tell stories. It is a time before the “institutionalization” of the multiplatform industry. And just like the history of film or TV the early pioneers are stepping out now and taking a lot of arrows. They are experimenting, learning what works and establishing best practices. They are master storytellers using and in some cases inventing new tools. They have failed and they have succeeded. And these are their stories. Read more about the session.

Why this matters to credit unions: This panel was awesome with four wonderful case studies that were presented. I'll tell you about one called Robot Heart Stories that really points to how much more effective and immersive financial literacy could potentially be for credit unions. Robot Heart Stories is currently being produced by story architect and designer Matt Wieler of Reboot Stories.

Here's the synopsis:

Robot Hearts Stories is an experiential learning project that uses collaboration and creative problem solving to put education directly in the hands of students. Two classrooms, a continent apart, will work together to get a lost robot home, and they will need your help.

The experience begins when a robot crash lands in Montreal and must make her way to LA in order to find her space craft and return home. Two class rooms in underprivileged neighborhoods, one in Montreal (French speaking) and the other in LA (English speaking), used math, science, history, geography and creative writing to help the robot make her way across North America.

At the same time, Robot Hearts Stories extends beyond the classroom, as the project welcomes involvement from a global audience. We need participants of all ages to share their own passions in the form of a creative act involving a robot they can print, customize and document. For each photo or piece of art featuring the robot that is submitted, the “signal strength” of the robot grows stronger and helps her to get back home.

It is the producer's feeling that together they can empower endless creativity and, with the help of a robot, reboot education. It was a wonderful story about a story that's currently being created. Part scripted, part professionally produced, part improv and part user-generated content, it really points to an emersive experience that goes way beyond boring hand outs and Powerpoint.

In this, and the other case studies presented, I saw great storytelling strategies that could be applied to the financial literacy space.

What stories are you writing? What stories are you capturing? What stories are you telling and sharing? Can you use storytelling in a way that cuts through the noise? I think there are a lot of possibilities for credit unions. 

I'll continue with more SXSW highlights over the next few days before the memories of SXSW 2012 fade!

Tim

SXSW and credit unions part 1

Kevin and I are attending SXSW Interactive in Austin, Texas for the first time this year. It's been on my conference bucket list for at least four years and I am glad to be able to check it off. Being on the other end of the #sxsw Twitter hashtag sucks and I wanted to see what all the fuss was about firsthand.

If you are involved in or follow digital media and technology at all, you've heard of SXSW (South by Southwest). It is an enormous conference with three parts – music, film and interactive. The interactive portion is attended by 20,000+ people, is spread over five days and has more than 2,000 speakers presenting at venues all over downtown Austin. An attendee can only scratch the surface of possible sessions and topics.

As a newby, I decided to mainly take in large auditorium keynote speakers and interviews with successful start-up founders and venture capitalists. I've always been fascinated with the business side of technology and the social web. I often find myself trying to filter my interest in the tech world through my credit union lens.

I've attended two days worth of sessions and thought I would share my highlights. I've included these very cool Ogilvy Notes that were drawn on the spot by artists from ImageThink.net. The session descriptions are quoted directly from the Ogilvy Notes site.

Gamify and Socialize

Description: Bing Gordon knows how to spread magic dust: Look anywhere from Amazon to Zynga. A master of disruption, he's blessed with 20/20 vision into all things gaming and social. Go beyond the buzzwords as the former Electronic Arts executive, legendary video game pioneer, investor in online social gaming company Zynga, and partner at Kleiner Perkins Caufield & Byers sits down with Bloomberg BusinessWeek reporter Brad Stone to help us understand how both trends are changing the way people engage, behave and consume. Bing explores why gamification and socialization have moved into the mainstream – and into our bloodstream. He explains how these concepts and strategies are relevant to just about everyone, from entrepreneurs to marketing professionals to musicians and students. Bing also discusses how game and social design principles are used to heighten the "wow" quotient in products, services and change consumer experience.

Why this matters to credit unions: Gaming is huge and while gamification is a buzz word that has been hot for a couple of years now, game theory and techniques are starting to permiate everything. From health and fitness to education, technologists are figuring out how to motivate and engage people within their products. With the explosion of mobile smart phones and tablets, financial services is one of the next opportunities to be gamified. Credit unions and the technology vendors they rely on need to get active in this space now. 

The Start-Up of You

Description: Renowned entrepreneur and investor Reid Hoffman and entrepreneur/author Ben Casnocha present a new blueprint for managing your career. You will learn the best practices of some of the most successful start-ups on the planet (like PayPal and LinkedIn), and how these strategies can be applied to your career – no matter your industry or job function. You will learn how to launch career plans amid uncertainty; how to change jobs based on what you learn; how to generate breakout opportunities; how to take intelligent risks; how to develop real relationships and build an effective professional network. Most of all, you will learn how to think like an entrepreneur when steering the start-up that is your career.

Why this matters to credit unions: The idea of the Internet offers so much promise and opportunity for everyone, especially young, creative and energetic minds. Generation Y now has poster children like Mark Zuckerberg and other self-made technologists to look up to. They are hyper-connected and are prone to hop from opportunity to opportunity.

Credit unions are going to have a harder and harder time attracting, rewarding and keeping top-level, technology driven employees. Credit unions just aren't sexy or compelling. For those young professionals that do have an interest in innovative financial services firms, credit unions will have to do a lot more to stand out. American Express is all over this conference. If you opened a credit card account today and link it to its new Twitter service, you can go to a private Jay-Z concert Sunday night. And, there are rumors swirling here that Kanye West will perform as well. For real. 

This is what credit unions are up against and it's high time that the entire industry take finding the next generation of employees and leaders really seriously. I could be wrong, but I don't think any credit unions sent employees to this conference. That's a shame. The palpable buzz and energy in the air here is amazing. Credit unions need this fresh thinking and energy pronto.

I'll continue with more highlights over the next few days.

Tim

The importance of getting out of your bottle

Source: Justin Metz

"It's hard to think about your own business from the inside. It's like you are in a wine bottle and all you can see is the back of the label. You need to get out of the bottle from time to time."

– David C. Baker

I have been extremely fortunate to speak at more than 30 credit union conferences over the past three years. When I am in speaker mode, I concentrate on being prepared, getting there on time, making sure that the technology gods are on my side and delivering a coherent talk. If I am lucky, I may get to see a couple of other speakers before grabbing a cab to the airport. I had forgotten about the pure joy and educational value of being a conference attendee.

To listen. To ponder. To absorb. To think. To question. To talk to other people in your shoes. Without worrying about anything else. For those credit union employees reading, you should relish those opportunities to get out of your organization for a few days to learn and reflect.

I had that simple pleasure last week at the Recourses New Business Summit in Nashville, Tennessee. This three-day seminar had nothing to do with credit unions, but everything to do with my business. The curriculum is tailored specifically for principles and sales people at small marketing firms. The two main speakers – David C. Baker and Blair Enns – provided great information on positioning, marketing and selling. And two special guest – Mark O'Brien and Christopher Butler – delivered excellent advice on content strategy and thought leadership. 

The New Business Summit wasn't a typical conference where a parade of speakers give you a small taste of a variety of topics, it was more like being in a classroom setting attempting to drink from a firehose. I imagine it would be something like a CUNA Management School or a CUES Institute in the credit union world.

A major difference between this conference and a credit union conference was the lack of projected slides. Three days worth of information without one single bulleted PowerPoint slide. Just confident, expert speakers talking to their audience. It was a joyous contrast to what I am accustomed to!

I'm a long-time David Baker follower and a Recourses client. In fact, other than my father, no other individual has had more impact on my professional life than David. He has long advocated for marketing and design firms to specialize. To pick an industry or a particular service offering and get really good at that one thing. Blair Enns also believes in specialization and he has dedicated his consulting practice to helping firms stand out from the crowd in a new business setting.

This advice runs contrary to the popular thinking in the creative services field. Creative types are addicted to variety and new challenges. The thought of specialization is typically met with disbelief and deep disagreement.

I suppose the same can be said about most service industries. You are well aware that the financial services industry is populated by undifferentiated players who think that they all offer superior service! With more than 8,000 credit unions and 10,000 banks in the US and Canada all offering pretty much the same products and services, it's nearly impossible to stand out. 

Now imagine my industry. There are more than 40,000 marketing firms in the US and Canada staffed by creatives who truly believe they are the most creative!

David and Blair's advice is always simple, smart and direct. I've taken their advice to heart over the years. The more finely specialized I've made Currency in what we offer, the more opportunity has come our way and the more effective we've become at what we do. It just takes time and discipline.

If you are in the marketing business – whether it's design, interactive, public relations or advertising – you should attend the Recourses New Business Summit in 2013. It's a great way to get out of your bottle and start the year off right.

If you are in the credit union business, seek out a seminar or conference that delivers this depth of expertise and content. You'll thank me later!

Tim

Important thoughts about important things after #CUWCS

Something fired my brain up about 20 minutes into the first CUWCS speaker, Robbie Wright's presentation. He was expanding on a blog post he wrote in June of this year which stated, in part, "nothing important happens in the credit union blogosphere."

Obviously, as I am very active in the blogosphere, Twitt-o-sphere, Facebook-o-sphere—and at times have an inflated opinion of my contributions in this arena—I was in VEHEMENT opposition. Then I listened further (listening being something I appreciate more fully, being involved in many credit union 'spheres) and realized he had a point of sorts.

He said "important stuff is never really talked about online." He also mentioned a few things that flew at high speed OVER my head, such as member business lending cap and partnerships between some anagrams that sounded pretty important. One or two members in the audience spoke up to share stories of credit unions using social media platforms—such as Twitter—successfully as a marketing channel. I'm not going to go there, because there are both amazing and amazingly bad examples of social media use in every industry, not just ours.

What I am taking away is this: Let's all agree that social media is an amazing way to TALK to each other. Twitter specifically let over 130 people participate in the conversation during #CUWCS, which in turn kept those 130 networks informed and interested, and so on. The majority of the people who follow me on Twitter are there to 1) immerse themselves in my witty and insightful 140isms and share the same back with me; or 2) politely following me back for my follow, because unless one is a creeper, that is the Twitter etiquette. My use of Twitter is much more information sharing than sales, although I am the business development person for Currency.

So let's try using this platform for important conversation and sharing!

I'd LOVE to see Robbie (just to get things rolling) start up a Twitter # chat on those important things he says are not being talked about. How about the second Monday of every month around 11 a.m. Pacific time, called #importantstuff? I hereby promise to show up for that, hopefully to learn something, but also to lend support to the important stuff getting talked about. For those of you who are too shy to admit they don't have a clue what I mean by a "Twitter # chat" or how to participate, here's a super easy how-to:

1. Go to www.twitter.com
2. If you need to, create a new account. If not, sign in. (If you use a Twitter app or client, set up a #importantstuff stream)
3. In the search field, enter "#importantstuff" and click the search button.
4. Near the top of the results page you'll see a button that says "Save this search." Click that button.
5. Click on the Home page link. In the "Search" drop-down list (under your status field, 4th in the row beside "Timeline", "@Mentions" and "Retweets" if you're using the new Twitter) select #importantstuff
6. Read and participate
7. Nothing there? Nice, you're early. Come back at 11 a.m. Pacific time on the second Monday of the month

See? Easy-peasy, right?

There are a lot of websites out there—including ours—that focus on the credit union industry, and I assume the things people are comfortable talking about. If a number of people out there feel these sites aren't talking about the important stuff, then let's find a way to talk about the important stuff.

Who's in? I am—what do you say, Robbie?

Nala

Want to attend How Magazine's Mind Your Own Business Conference? I've got a code for you!

If you are a credit union marketer, this post is likely not for you. But if you are a marketing agency or design firm owner, then this post is definitely for you!

After being in business for ten years, I attended How Magazine's inaugral Mind Your Own Business conference in Cancun, Mexico in 2000. It was a watershed moment in my professional life. Up until that point, my business had grown like wildfire, but it felt like a handful of mud. If you've every tried to keep a handful of mud from slipping through your fingers you know what I mean! In design school I was taught how to design, not how to run a business and my first decade in business was an adventure in figuring things out in complete isolation.

I learned so much at that those three days in Mexico. It was amazing. I have attended three more MYOB Conferences since and each one has been incredible. It's not cheap, but worth every penny.

Fast forward ten years later and I've been asked to speak at this year's MYOB Conference in New York. I am totally honored and excited by the opportunity.

As a speaker, I’d like to invite you to join me at this year’s event being held October 12 to 14 at the Sheraton New York Hotel & Towers.

Tailored specifically to address the challenges faced by creative-firm principals and owners, this one-of-a-kind business conference offers ways to improve your corporate positioning, grow your bottom line and realize your firm’s potential. Trust me, you'll learn a ton and meet other people in your situation.

For complete session descriptions, speaker info and everything else you need to know, visit www.MYOBconference.com.

And be sure to use discount code MTM10 to get an additional $100 off the registration rate. See you in New York!

Tim

Young, Free and Super-charged

This past Friday morning I presented in front of about 1,500 credit union CEOs and directors at the 33rd Annual Directors' Convention. This was definitely the largest crowd I have ever been in front of. I am the little scared dot on the stage in this photo!

Here is my slide deck.

The subject was Young, Free and Super-charged: Building social media campaigns that work. It was basically an overview of my thoughts on social media marketing for credit unions and a recap of the lessons learned from our eight live Young & Free regions.

I promised the folks in the audience that I would have these slides online after my presentation. Suffice it to say that the flaky hotel Internet access had other plans for me!

Tim

There actually IS meat on bacon!

Most of you have probably seen that Cheryl and I have thrown our collective hat in the ring to be the CU Water Cooler Symposium WildCard Speaker.

When you work in marketing and advertising, surrounded by fun co-workers and fun clients, on an incredibly fun and innovative product (Young & Free) it's hard not to let that spill over into contest entry for a wildcard speaker’s spot (as evidenced by our most recent campaign video).

But we want to clarify something—our presentation isn't going to focus on funny videos and bacon, it's going to delve into research we are doing with Gen Y'ers in regards to their use of social media platforms.

We are asking a cross section of young people across North America about:
• Which platforms they use
• What they actually use them for
• What they would never use them for
• And how they perceive businesses interjecting in those spaces

(just to name a few)

We will be compiling these results and sharing 3 practical ways that Credit Unions can take this information and implement a social media strategy in these spaces that will be relevant and get results.

So here’s what you need to know: yes, half of us are young and both of us are silly, but we're going to deliver a fun presentation that will leave the audience with some insight into how Gen Y is actually using social media and share information on how credit unions can get involved and get bottom line results.

We’re really excited to have a conversation about this, and if you are too, you can vote for us here:

http://www.cuwatercoolersymposium.com/vote/

Voting closes Friday at 2pm PT.

All the best,

Nala (and Cheryl)

Co-op Vegas?

I attended the 1 Credit Union Conference in Las Vegas last week. The venue struck me as an odd choice. I wondered what kind of first impression Vegas would give the visitors from 60 countries. This tweet from Shari Storm summed up my initial thoughts, "Listening to the regal women of Zimbabwe marvel at how little clothing the young women in Las Vegas wear." Was Las Vegas the best way to show off the western world?

Then it struck me: Vegas is the perfect example of the power of cooperation. Don't believe me? Let's run Vegas past the seven cooperative principles.

Principle #1: Inclusiveness
Everyone is welcome regardless of how much cash they are carrying. From the penny slots to $5,000 minimum bets, Vegas has something for everyone. It does not discriminate. Vegas will take money from anyone!

Principle #2: Voice
Vegas is a democratically run ecosystem, entirely controlled by consumers' wants and desires.

Principle #3: Benefit
Consumers directly participate in the financial success of Vegas by emptying their pockets on gambling, dining, entertainment and taxis. Surpluses are returned to consumers in the form of an occasional jackpot to make everyone believe it's possible to beat the odds!

Principle #4: Independence
As your plane descends, you are struck with how isolated (and illuminated) Las Vegas is.

Principle #5: Education
Financial literacy in Vegas? Heck yes. There are gambling hotline posters displayed in every casino. This service is free and available to all.

Principle #6: Cooperation
Cooperation among casinos is vital. If there was only one casino or one show in Vegas, it wouldn't work. The whole is greater than the sum of the parts.

Principle #7: Community
Every visitor to Vegas shares a common bond and shares the famous motto, "What happens in Vegas, stays in Vegas!"

All joking aside, Vegas is a great example of people and organizations working together to make something much bigger than would be possible in isolation. All of the stakeholders in Vegas pool their money and market Vegas as a whole. There is real power in this co-op marketing model that credit unions could learn from.

Tim

The Symposium is back!

I wrote a guest post on the CUES Skybox on May 12 and Doug True at FORUM Credit Union left this comment.

"Your post also made me think how we really should bring back the Symposium. The foundation blocks are still there and FORUM Solutions would welcome the opportunity to host in Indy. If there is interest we just need to find out who the enablers will be and get together to work out the details. I only want to do it though if it adds value to an already crowded conference marketplace"

Further down in the comments, George Hoffheimer from Filene chimed in.

@Doug...Filene's in for next iteration of Symposium

I immediately emailed Doug True and Matt Davis and said let's make it happen. So, after a one-year hiatus, the symposium is back. We've got a new title, the CU Water Cooler Symposium, and a new theme, Bubbling up the best new credit union talent!

Here are some details.

• This will be a unique experience in the already over-crowded credit union conference space.
• It will be held in Fishers, Indiana on Thursday, October 28 and Friday, October 29. FORUM Credit Union has been gracious to donate the use of its wonderful FORUM Conference & Events Center.
• It's dirt cheap. The $199 early-bird price basically covers the costs of catering.
• Matt Davis and I will be your hosts.
• The other 11 CU Water Cooler editors are each responsible for recruiting a speaker with a new story. These speakers will be revealed two at a time over the next six weeks on the Liquid Lunch.
• There is a "Be a Speaker" contest. This is an awesome opportunity for someone with an interesting credit union story to tell. 
• There are sponsorship opportunities for a few select vendors.

This is sure to be a fantastic event and we want you there! Book your spot today.

+ Check the website out for all of the details.

Tim