CU2.0 Podcast Episode 202 Kirk Kordeleski Tells If You Are Paid Enough

 How much do you make? Is it enough?

A question for credit union boards: Are you paying your staff, especially c-suiters, enough to stay competitive in your marketplace?

We are in an era of intense competition for talent. You know how hard it has become to recruit to fill teller openings.

But do you know that a talent war is upending olden credit union beliefs about senior talent and compensation?

It is. And this will help decide what credit unions are left standing 10 years from now.

Telling us what is really going on in credit union executive compensation is Kirk Kordeleski, a onetime Bethpage CU CEO who now consults with credit unions about compensation especially SERP.  

If you think that has to do with search exchange results pages you definitely need to hear this show.

That’s Supplemental Executive Retirement Plans and they are emerging as a key tool in senior executive recruitment and retention at credit unions.

Kordeleski, by the way, is a past CU 2.0 Podcast guest – episode 46 in Season 1.        

Kordeleski did this show from a quarantine hotel in Amsterdam  after failing the Covid test required for passengers entering the US.  He is in a remarkably good mood and that may be a clue that this is indeed a guy who can help you untangle your institution’s antiquated comp practices.

Listen up.

Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email rjmcgarvey@gmail.com

And like this podcast on whatever service you use to stream it. That matters.

Find out more about CU2.0 and the digital transformation of credit unions here. It’s a journey every credit union needs to take. Pronto  

CU 2.0 Podcast Episode 189 Chase Neinken Chimney on Calculating Success

Boring. Old. Anachronistic.

Are those the words that come to mind when you think of calculators?

Guess what: maybe those adjectives apply to the calculators at your financial institution’s website…but that is not how Chase Neinken, a co-founder of fintech Chimney, sees them.

That’s because Chimney is in the business of creating calculators that engage members in looking at their finances in new ways.

Chew on the company’s mantra: Engage more customers. Fund more loans.

You know you now want to know more about Chimney.

This podcast will be the short course. Then go to the website – link in the show notes – click into the Chimney website and you will find some 30 templates that are there to try for free.

As in: at no cost.

Neinken in the podcast also reveals that the typical Chimney FI customer is billed under $1000 monthly. That’s for 10 calculators.  Fees are not based on institution size or number of members. And there is no minimum contract, no need for any time commitment.

You understand calculators. We all do. But the Chimney message is that there is a new breed of calculators that you won’t typically find on a credit union website but your members will find them at fintechs such as Nerd Wallet.

Can that member be won back?

Neinken says sure, with Chimney’s calculators.

Listen up.

Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email rjmcgarvey@gmail.com

And like this podcast on whatever service you use to stream it. That matters.

Find out more about CU2.0 and the digital transformation of credit unions here. It’s a journey every credit union needs to take. Pronto

The Retiree Startups

by Robert McGarvey

First comes golf, lots of it. Good Scotch. Some travel. Lots of TV … and then what? 

The surprising answer is that for many retirees, their answer is to work. Maybe more surprisingly still, lots of them turn to self-employment and that means a startup. That’s proven by numbers from the US Bureau of Labor Statistics (BLS), which show that the fastest growing age cohort in the workforce is 75 and older, and self-employment is chosen by more who are 65+ than by any other age cohort.

Around one in every six of those who are 65+ are self-employed. The next highest group, by the way, are those 55-64 where 9% are self-employed, per BLS.

Why? The reasons are as varied as are seniors, but a fact that comes through loud and clear is that the US is at the very beginning of a silver tsunami where retired seniors declare “not me,” and work again. Some do it for the money while others do it for fun. Still, others seek to solve a need they are passionate to address.

Here are there stories.

Continued at Startup Savant