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The League invites you to join us for our April Town Hall, featuring economist Mike Schenk. This Town Hall will highlight The New Economy: Forget the Fed—Ignore the Forecast.
In the good old days, Federal Reserve policy drove consumer behavior and directly determined the course of credit union operations. Forecasting was easy. Planning was fun. Today, however, the Fed is much less relevant. Underlying labor market weakness and broad increases in consumer prices raise the specter of stagflation. Uncertainty and instability rule. Black swans circle menacingly like vultures. Forecasting is now exceedingly difficult. Planning seems nearly impossible. This lively discussion outlines dangerous forces driving the “New Economy,” explores Schenk’s Dismal Dashboard of Doom, and provides a detailed action plan to ensure your credit union’s success—come what may.
About Mike Schenk:
Mike Schenk has over 40 years of experience in the financial services industry.
During his long career at the nation’s primary credit union trade association, Schenk led a dynamic team of top research professionals. In his role as Chief Economist, he ensured that America’s Credit Unions was first among all depository trade groups to harness the power of big data—spearheading the organization’s use of the 35-billion record Equifax database to prove the credit union difference and ensure policy makers recognize, embrace, and promote the transformative power of cooperative finance.
As Principal in People Not Profit, LLC., he consults and speaks about economics and depository finance nationally as well as for state leagues and individual credit unions.
Schenk also serves as a Strategic Advisor for Filene Research Institute—the credit union movement’s leader in insight and innovation. In this capacity, he helps shape cutting-edge research that advances the People Helping People philosophy and strengthens the ability of credit unions to improve their members’ financial well-being. His enthusiastic support for Filene’s mission grew from a close working relationship with the Filene team and from his tenure on the Filene Board of Directors.
He serves on the board of Summit CU in Madison, Wisconsin—a $7.5 billion financial cooperative with 250,000 members and a focus on helping women avoid poverty in retirement. In his 20 years on the Summit board, Schenk has served as Board Chair and has Chaired the credit union’s Asset-Liability Management and Risk Management/Internal Audit Committees. He currently serves as the credit union’s Treasurer.
Lauren Simonds will share a Teams meeting invitation for this Town Hall on March 9. If you have not been receiving meeting invitations for Town Halls and would like to add your name to the distribution list and/or attend this meeting, please email Simonds at lsimonds@mainecul.org.