Typically, Buy Now, Pay Later (BNPL) is an option that allows consumers to make installment payments on purchases over $100. There’s a quickly growing demand for it.
Have you heard of the Dunning-Kruger Effect? It describes a tendency for people to misevaluate their own knowledge or competence on a subject. Experts underestimate themselves—and for laypersons to assume they know way more than they do.
Like most Americans, I use rewards cards almost exclusively. Whether cash back, travel perks, or discounts at national and local businesses, I some of the money I spend to come right back to me.
I remember distinctly the pit in my stomach the first time I overdrew my bank account. I was 16 and working as a bank as I prepped to start a high school bank. It was highly embarrassing and humbling. I was a teller. I was supposed to know how to reconcile my checkbook. I was supposed to be leading the student body.
This piece is based off of a roundtable discussion at the CU 2.0 Brainstorm Event in July 2021. It is not intended to be comprehensive—rather, it will provide a cursory introduction to credit union CEO strategy.