Author: Chip Filson

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REAL Credit Union Stories

The stories we tell create our history.  They capture what is valued and honored.  They portray want we want to remember as individuals,  within an organization, or for a movement.

No two stories are identical for persons or firms.  Added together they are a kaleidoscope of what  credit unions have become and likely paths to the future.

Blogging is storytelling.  Today’s examples are from Day Air in Dayton, Ohio. They were selected by the CEO in his monthly update to  his team. The examples illustrate the credit union’s singular culture.

Using Stories

The CEO’s introduction: There were 25 service story nominations in December, bringing the total for the year to 232, just shy of the record set in 2021.  Please keep your eyes open to good news stories happening around the Credit Union – there are a lot of them….  Help us share those stories in 2023.

The Service Example

Palisha was commended five times this month by various members or associates. One of those comments included: “Palisha was very helpful and explained everything very well. She also gave me tips to help build my credit which I found out I was doing all wrong thanks to her.”

Partnering in the Community

We partner with various non-profits in the community.  One is the Artemis Center, which assists victims of domestic violence.  Their executive director sent this letter last week: 

“My name is <redacted> and I am an active participant in Artemis support group.

I was never involved in the finances in my almost 25 year marriage. I knew nothing about loans, money, mortgages or credit. My credit had been destroyed during my divorce. 

An advocate at Artemis referred me to Day Air. Not only did they (Day Air) take the time to help and explain to me what I needed to do with my finances but how to achieve them. For someone that was significantly financially abused for years, the help from Day Air has made a huge difference and impact in my life. 

As a single mom I am almost to the place where I am going to be able to get a home mortgage but would not be at this place if it was not for the referral to Day Air.

For people that have been significantly affected by Domestic Violence, this is such a huge relief to have businesses that are willing to help others in this situation. I just needed someone to give me a chance and guide me in the process of becoming independent. This will enable me to provide for myself and my children.

Thank you so much for partnering with organizations and businesses such as Day Air Credit Union.”    

Another Partnership: Trinity Success Story

We typically see success stories from Trinity Credit Management that result from associate’s referrals of members.  The following was the result of a member finding Trinity through our website.

“this was an outstanding outcome……$31,300.00 on 4 credit cards……26.1% interest we reduced to 7.2%……original monthly payment $1,112.28 (only $324.00 was applied to principal!!!!)….new payment down to $854.00 and this couple is on track to being paid in full at least 15 months sooner saving about $20,000.00…….”

This organization does great things negotiating on member’s behalf to reduce credit card debt.

The CEO’s Message

Mutually owned financial cooperatives and CDFIs (and Day Air Credit Union is both) play a tremendous role in the economic vitality of communities around the world.  The impact is measured in the number of loans made and number of people served, but also in many other, intangible ways. 

A mortgage or home improvement loan helps improve the quality of housing and can bring stability to a community.  A car loan or a car repair loan can be the difference in a single parent being able to get to work or take children to daycare or school.

A personal loan can help people avoid predatory payday lenders.  A small business loan can create job opportunities that improves the standard of living of the business owner, the small company’s employees as well as benefit its patrons. 

All of us at Day Air Credit Union represent the “George Bailey” (from the movie It’s a Wonderful Life)  in the lives of those who we help and serve.  Thank you for being part of someone bigger than each of us; a part of something that greatly contributes to the very fabric of our community; a part of something that really makes a difference in people’s lives. 

REAL Stories

These are REAL credit union stories to lead us into the New Year.   Daily we will read numerous reports and publicity about many cooperative’s milestones, and even sometimes, endgames.

The critical factor for each reader will be to discern for him/herself what is a REAL credit union accomplishment, or merely an event touted by “a credit union in name only.”

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The Most Powerful New Year’s Message-for Generations to Come

This 17-minute message from President Volodymyr Zelensky to his people and the world, is one of the most powerful speeches of my lifetime.

Listen, watch, and learn what transforms ordinary people into one common purpose.

(https://www.youtube.com/watch?v=XqNrvIHoY0g)

How Three Generations in a Family Cope with War in Kyiv (3 minutes)

(https://www.youtube.com/watch?v=3ikf-hTuIfE)

Today, we are all Ukrainians.

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A Poetic Thought Upon the Eve of a New Year

This poem by Jim Moore was written during the pandemic.  It references those experiences that give hope as we navigate the “light and darkness of our days and nights.”   A meditation for entering the New Year.

The Need is So Great

Sometimes I just sit like this at the window and watch
the darkness come. If I’m smart, I’ll put on Bach. 

I’m thinking now of how far it always seems there is to go.
Maybe it is too easy that I speak so often 

of late last light on a December day,
of that stubborn grass that somehow still remains green 

behind the broken chain link fence on the corner.
But the need is so great for the way light looks 

as it takes its leave of us. We say
what we can to each other of these things, 

we who are such thieves, stealing first
one breath and then the next. Bach, keep going 

just this slowly, show me the way to believe
that what matters in this world has already happened 

and will go on happening forever.
The way light falls on the last 

of the stricken leaves of the copper beech
at the end of the block is something to behold. 

 
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A Resolution for 2023

From the Fool in King Lear:

Have more than thou showest,
 Speak less than thou knowest,
 Lend less than thou owest,
 Ride more than thou goest,
 Learn more than thou trowest,
 Set less than thou throwest;
 Leave thy drink and thy whore,
 And keep in-a-door,
 And thou shalt have more
 Than two tens to a score.

Trow (v.) think, expect, believe

 

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AI Vs. the Author’s Joy

Randy Karnes served as CEO of CU*Answers and its multiple offspring in four decades.   He led during multiple technology revolutions.

He posted these comments on the role of AI and machine learning in general, responding to yesterday’s blog written by Playground.

AI and the Author-Artist’s Return on Work

Automation will be able to replace the delivery of such things by emulating the output from stored themes, patterned phrases, and just like students of millions of expressions of facts AI will simply string output together – a modern day scribe, typist, or plagiarist.

But while the output of work product for the economic return on work – the real return is for the author’s joy – the pride in the intellect on display – the heart in the translations of life’s learning and ideas interpreted. AI is a long way from capturing personal returns on being the owner of the work.

It will still be to the artist to generate the  moment of insight that sparks a genuine response amongst the noise of billions of expressions generated by endless data, tireless machines, and endless networks.

For all the noise it is the simplest of silence inspired thoughts–for thought that lights the soul on fire.

The Challenge for Today’s Technology Managers

But I am not sure many consumers today love the work to be the authors or manufacturers of value beyond telling machines to pump it out.

When you considered that my career changed from tech that readied the day for humans to interact around financial service delivery to one that where no humans are needed for 80-90% of the transactions or advice, you can see that less and less value generators or authors of ideas are needed.

Thinkers and dreamers no longer need apply.

Financial Tech was an exciting space of invention, creation, and innovation but more and more it is becoming simply a world of operation, maintenance, and tweaks.

Human workers are simply the lubricant of established systems today and mesmerized to overvalue the tech to be consumed and their role in supporting it – inflated on both sides of the artificial templated transactions.

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The Fastest Blog I Never Wrote

What are the events to pay attention to going forward  in 2023?

1. Economy: The global economic outlook for 2023 is uncertain due to the continuing effects of the COVID–19 pandemic. Depending on the speed of the recovery, inflationary pressures, and the effectiveness of monetary and fiscal policy, the economy could experience a slow recovery or a rapid rebound.

2. Possible Recession: It is difficult to predict whether or not a recession will occur in 2023. However, many economists are predicting that the global economy could be in for a slow recovery.

3. Domestic and International Uncertainties: In 2023, there will be a number of domestic and international uncertainties that will impact the global economy. These include the Brexit negotiations, US-China trade tensions, and the ongoing war in Ukraine. Additionally, the ongoing effects of the COVID-19 pandemic will likely have an effect on the global economy.

4. War in Ukraine: The war in Ukraine has been ongoing since 2014, and there is no end in sight. In 2023, the conflict is likely to continue, with both sides.

A Brief New Year Poem

The New Year‘s here and it‘s time to go,

New things to try and places to go,

The future‘s filled with so much hope,

Full of chances and a brand new scope.

A New Brand

What does Washington’s NFL football team’s new name,  Commanders, suggest?

The nickname for a team called the Commanders suggests that the team is strong, organized, and in control of their destiny. It evokes the idea of a unified group working together to achieve a common goal.

The Source for this Commentary

What is the new AI site Playground and how can a person can test out its capabilities for their use?

Playground is an AI development environment that enables users to create, train, and deploy machine learning models. It provides an intuitive, interactive interface that enables users to easily explore and experiment with machine learning algorithms.

It includes a wide range of examples and tutorials to help users get started quickly. With Playground, users can quickly create, train, and deploy machine learning models without having to write code.

The platform also provides an integrated development environment (IDE) that enables users to easily code and debug their machine learning models. Additionally, users can leverage the platform to create custom datasets and evaluate models using statistical metrics.

Playground also offers a library of community-contributed models, so users can test out models from other users and get inspired.

The final words:  These are is the only words of mine for this post.  Playground did the rest in response to my requests.  The examples are intended to show the site’s versatility and realism.  Now you can go write your own blog or use to post a comment below.

 

 

 

 

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Is Santa Real? The Most Famous Letter to an Editor

Yes, Virginia, there is a Santa Claus” is a line from an editorial by Francis Pharcellus Church in the New York newspaper The Sun on September 21, 1897.

The exchange became so well know that The Sun  republished it during the Christmas season every year until 1950, when the paper ceased publication.  The writer’s  response outlives the event and his paper.

Is there a message beyond this recurring seasonal query?

Here is the letter:

September 21, 1897

Dear Editor, I am 8 years old.

Some of my little friends say there is no Santa Claus.

Papa says, “If you see it in The Sun, it’s so.”

Please tell me the truth, is there a Santa Claus?

Virginia O’Hanlon

The Editor’s Reply Excerpted ( The full letter can be read here)

Virginia, your little friends are wrong. They have been affected by the skepticism of a skeptical age. . .

Yes, Virginia, there is a Santa Claus. He exists as certainly as love and generosity and devotion exist, and you know that they abound and give to your life its highest beauty and joy. . .

Nobody sees Santa Claus, but that is no sign that there is no Santa Claus. The most real things in the world are those that neither children nor men can see.  . .

Only faith, fancy, poetry, love, romance can push aside that curtain and view and picture the supernal beauty and glory beyond. Is it all real? Ah, Virginia, in all this world there is nothing else real and abiding. . .

A thousand years from now, Virginia, nay 10 times 10 thousand years from now, he will continue to make glad the heart of childhood.

Are Credit Unions for Real?

At a point every movement founded on goodwill will have sceptics.  Even credit unions.

Some today see the cooperative credit union model as only nostalgia.  Similar to listening to sports on radio, two-a-day newspapers, and created in an era when congregations were standing room only on Christmas eve.

Those times are gone.  Today the future for cooperatives is to match their bigger, stronger and more influential competitors.

These sceptics put their faith in numbers, the higher the better.  The idea that members should share in the first fruits of their collective effort is seen as naive in a competitive market.

Whether large or small, the founders’ belief that credit unions  should serve the well-being of all-even those who have the least or know the least about finances-is passe.  Especially when AI based lending can do it all–faster, cheaper, and more fair.

The Most Real Thing

The editor’s response describes a different reality.

Members’ faith and loyalty create trust, the foundation of any sustainable relationship-whether commercial or personal.  Credit unions empower with service that “makes glad the heart.”

Uplifting peoples’ and communities lives can be “the highest beauty and joy.“ This purpose  ignited tens of thousands of founders, differentiates still  and will be  relevant “a thousand years from now.”

Santa’s commercialization and consumerism is just one side of the story.  It invokes an image  to put a shiny veneer on profit making.

The editor’s letter  presents why this character’s symbol continues to fascinate children of all ages.

And that same understanding is what will make credit unions, at their best, a “real and abiding” movement for future generations.