According to the Chinese Calendar 2020 is the Zodiac Year of the Rat. Rats are clever and wise and are symbols of wealth and surplus (because of their fast rate of reproduction). Rats have to be extra cautious in the new year due to being at risk of losing money. They must learn to stand back and wait until opportunities arise and are advised to wait until the following year in making big decisions and keeping their financial situation stable. Rats will also find themselves losing their focus at times and becoming emotional. So each of us would do well to temper our prosperity trends regarding the economy going forward. Living with a bit of anxiety will be a harbinger for credit union leadership as we head into the year.With recent political, economic and regulatory changes added to the American landscape, the new year economy in which credit unions will have to navigate will slow down. Overall many aspects of these changes have caused many of us to shift and use more new technology and innovation in dealing with our financial situations and engagement in serving members.And with 2020 being a presidential election year, all business and financial marketplace predictions will be tempered by Uncertainty!However, this is not the year for credit unions to hold back. There is an opportunity to really continue to step up and help members respond to new changes and challenges (interest rate changes/cyber-security/ID theft/new technology/frictionless transactions) and not have a rat pack mentality like our competitors.I would offer these “Super 10 in 20”suggestions for setting a course to prosper in the New Year:Work Your CU Neighborhood. Focus on deepening relationships (more wallet share) with your current members. Get closer and really get to know your members. Offer one stop financial services shopping and don’t make your members jump through whoop s to do business. Continue to engage and expand in socially responsible causes showing the credit union difference in the community.Review your Fee structures for market place adjustments. I am not suggesting we gouge our members, only that we alter fees based on the local marketplace. We still will be the best deal in town.Have a Collaboration, Partnership, Alliance and Merger Policy/Strategy.Train staff to cross serve and wow members at every touch point opportunity 7x24x365. Embrace being a “Member-Centric” CU. All staff, volunteers, vendors and members should be advocates for your credit union.Have a well-defined Member Experience Program. Use Good On-Boarding practices to Reconnect and Engage current/new members by offering incentives–(Buy local Groupon/ miles/reward programs/prepaid cards/cash back/free credit scores/reports/co-brand products) and concierge services to empower them to connect. Reach out to Hispanic/New Immigrant communities and show them how credit unions are a welcoming financial institution. Give members real reasons for being a member, not just a customer. Membership should have its privileges. Offer Certificate of Member Ownership/Toll Free 800 Member Care Hotline.Embrace Innovation/Mobile Strategy: Mobile/Tablet Technology and Social Media. Be Appilicious–Utilize innovative ideas to create “Apps for This and That”. Form Strategic Partnerships with Fin-techs (Google/Amazon) for first payments/digital interaction options. Teach members to serve themselves via technology. A CU Alexa has now joined the Apple watch to members households and vehicles and “Face Payments” could be the next Big Thing!Offer Suite of Retirement Services to help Senior Members–Tax/Legal (Wills) Services/End of Life (Burial) Loans/Long Term Care. Consider offering Life-style Products/Services that your members could really benefit from (braces/Invisalign treatments/hearing aids/plastic/Lasik surgery) personal procedures that are not covered by traditional insurance.Reach out to young adults/women and early retirees via Micro Lending and Small Business Services. These members are the fastest demographic starting their own business.Make it a strategic imperative to appeal to and attract more Youth and Young Adults. The under 30 Demographic is your next generation of lending business and lifelong members for your CU. Find ways to help young members ease their burden of student debt and offer Financial Counseling Fitness programs to help them get on track with sound life-long money budgeting practices.Explore Cannabis/Hemp/CBD Oil Banking as potential new Small Business opportunities for your credit union. 38SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,John Vardallas John A. Vardallas CAE, CUDE is Founder/CEO of The AmericanBoomeR Group, a Madison, Wisconsin based speaking/consulting firm. He is also Senior Faculty Advisor/Project Evaluator for SCMS and … Web: www.theamericanboomer.com Details This is not the time to sit back in your den about your credit unions mission to thrive in the future. Focusing on maintaining our differentiation–why we do versus what we do in our communities will distinguish us from the rest and help us prosper.Our Credit unions will need to step up, promote our purpose, focus on our uniqueness and commitment to members to stay ahead and avoid getting caught up in the financial services rat race in 2020.
– Advertisement – “The resort bubble would let guests leave their rooms and enjoy on-site amenities while completing the mandatory quarantine while wearing GPS-monitored bracelets,” he said, noting that should Hawaii reinstate the mandatory quarantine for all travelers, these bubbles would make it possible for the resort to remain operational for inter-island travel and for locals.The staff at Timbers is made up of locals and their safety is essential, Mr. Moore said.“Our employees go home, many have large families and they are with parents and grandparents and children, and keeping them safe is essential to everyone’s well-being,” he said.- Advertisement – “What the data suggests so far is that here in Hawaii, testing has been the key to safely reopening,” he said. “We now understand the data and the importance of testing. Testing provides a high level of protection for visitors, staff and residents.”The hotel used to have an in-person welcoming process that included staff members putting leis on guests as they arrived and checking them in with a cocktail in hand. Now, a key is waiting for guests when they arrive, and capacity is capped at 60 percent. Each of the hotel’s 72 suites has its own heating, ventilation and air conditioning system.Gary Moore, managing director at Timbers Kauai at Hokuala, said that the reopening has been “anything but clear,” but what is clear is: “We have to find a way to live with the disease.” Mr. Moore said that despite various challenges, the lessons learned at his property about distancing people, mask enforcement, temperature checking and even separating guests and putting them in “bubbles,” could be applied at other resorts.- Advertisement – Mr. McMillan added that he believes that “in some markets, especially for international travel, until a vaccine is more widely available, testing will become part of the norm.”For Jonathan McManus, the owner of Hotel Wailea Relais & Chateaux in Maui, testing presents a way to reopen safely after months of carrying an empty property. He says it will let him keep employees in jobs.- Advertisement –
Opening on February 15, 2010, The Ritz-Carlton, Los Angeles will be the first luxury hotel of its caliber in Downtown L.A. and will be a cornerstone of L.A. LIVE, the $2.5 billion sports and entertainment center, which is at the forefront of the renaissance of Downtown Los Angeles.The Ritz-Carlton, Los Angeles will feature 123 well-appointed guestrooms, including 14 suites with contemporary décor, as well as the downtown district’s only full-service hotel spa, The Ritz-Carlton Spa, providing a luxurious, 8,000-square-foot sanctuary. Steps away from Staples Center, The Nokia Theater, The Grammy Museum and an array of restaurants and nightspots, The Ritz-Carlton, Los Angeles will be at the center of one of the most exciting parts of the city.“L.A. LIVE brings a much-needed dimension to Downtown Los Angeles, with many dining and entertainment options that simply were not available previously, while The Ritz-Carlton, Los Angeles provides an oasis in the middle of this rejuvenated area,” said General Manager Javier Cano.The Ritz-Carlton, Los Angeles will partner with a celebrity chef on its signature restaurant and lounge, which will be situated on the 24th floor. Guests will be surrounded by panoramic vistas of downtown and surrounding Southern California. A private dining room and wine cave will complete the offerings of this exciting new destination restaurant.The 3,400-square-foot signature Ritz-Carlton Club Lounge will also boast spectacular views from the 23rd floor. In addition, guests can enjoy the city sights from the 26th floor as they lounge by the exclusive, private rooftop pool and bar. Cabana and conversational seating arrangements will allow guests to enjoy the outdoors both day and night. For those interested in more active pursuits, a 2,000-square-foot fitness center on the 26th floor will allow for productive workouts while enjoying the city views.The Gallery Collection will offer the most efficient meeting space in Downtown Los Angeles, with more than 77,000-square-feet of ballroom and meeting room. With the size and flexibility of the event space, The Ritz-Carlton, Los Angeles will serve as the long awaited headquarter hotel supporting the Los Angeles Convention Center.The hotel’s location in the heart of the L.A. LIVE project will give guests direct access to a unique collection of entertainment and sporting options, including:-STAPLES Center – The world’s most successful arena, STAPLES Center is home to five professional sports teams in addition to serving as the premier venue for musical performances, family entertainment and televised award shows, including the GRAMMY® awards. -NOKIA Theatre L.A. LIVE – A state-of-the-art 7,100-seat venue for live performances and events, NOKIA Theatre L.A. LIVE is the new home to two of the most highly coveted awards shows, the ESPY Awards and Emmy® Awards, not to mention the upcoming American Idol finale shows. -Club NOKIA – Expected to host 150 events a year, the 2,200-capacity Club NOKIA will be the perfect venue for emerging acts and cultural shows, while providing excellent space for corporate events and private parties. -ESPN Broadcast Studios and ESPN Zone – The broadcast studios will be home to a number of live shows and original programming, and the ESPN Zone is the nation’s most popular sports-themed restaurant and bar. -The GRAMMY® Museum – Developed by The Recording Academy (NARAS) and AEG, the museum will offer visitors a one-of-a-kind museum experience paying tribute to music’s heritage and rich cultural history. -Conga Room – The legendary venue will relocate from its mid-Wilshire location to open at L.A. LIVE. The intimate performance venue is owned by a group of high-profile celebrities, including Jennifer Lopez and Jimmy Smits. -Lucky Strike Bowling Center- In addition to 18 bowling lanes, the popular Lucky Strike will feature a café, bar, billiard tables, darts and private function rooms.L.A. Live currently offers guests a multitude of dining options from the city’s top restaurateurs, including:-Katsuya – The sushi and robata bar concept created by nightlife guru, Sam Nazarian -Wolfgang Puck – A California cuisine concept brought to life by the culinary icon himself -Rosa Mexicano – A fine dining concept of traditional and nouvelle Mexican food in a contemporary David Rockwell designed space -Fleming’s Prime Steakhouse and Wine Bar – Located on the bustling corner of Olympic Blvd. and Figueroa St., the well-known steakhouse will occupy approximately 7,250 sq. ft. -The Farm of Beverly Hills – An American restaurant from one of Beverly Hills’ most popular operators that serves breakfast, lunch and dinnerThe Ritz-Carlton, Los Angeles will share space with The Ritz-Carlton Residences at L.A. LIVE and the JW Marriott at L.A. LIVE in a one-of-a-kind, distinctive 54-story tower designed by Gensler that will be LEED certified.www.ritzcarlton.com