PayThink

There can be no doubt we are in challenging economic times. The question is, "How will we navigate these times?" I truly believe we have the opportunity to do much more than just survive, but to thrive.

Another tip for big banks trying to improve their images: Don’t let your top executives skip out on a speech by the President. It’s a simple suggestion that is apparently news to many bankers whose absence from President Obama’s speech to Wall Street on Monday has not gone unnoticed.

It’s not a secret that the Bush administration’s first foreclosure prevention plan, Hope Now, was a failure, but now the flop is immortalized in print—by one of the administration’s own ex-staffers.

Wells Fargo forecloses on the home of a couple who lost their fortune to Bernard Madoff’s Ponzi scheme and a bank executive is then caught living and partying in the empty Malibu mansion? Come on.

This week marks the one-year anniversary of an earth-shattering week for the financial system, in which Lehman Brothers failed and AIG received an emergency bailout. Washington-related events will be a mix of reflections on the past and examinations of possibilities for the future, with regulatory restructuring hearings in the House.

Editor's Note: CURE (Credit Union Retired Executives), a resource for free, confidential management advice, is offering Credit Union Journal readers a glimpse into its with "Advice from the Brain Trust." CURE selects from among its user questions and publish the advice that was offered in response. CURE responses are put together by the group's think tank of retired credit union leaders.

April 2009: I file my taxes. In spite of the economy, my finances aren't too bad. I'm one of the lucky ones. I'm employed, and my income is trending up. I'm motivated to do even better in 2009. I'm going to move my checking and savings accounts to a community bank or credit union — finally!

Given the digital, information-laden age in which we live, it is odd that so many electronic fund transfers are still carried out via data message strings that contain very little information. After all, businesses today are so data savvy they can predict consumers' spending habits even before they make purchases based on the historical data collected about them.

Democracy forever teases us with the contrast between its ideals and its realities, between its heroic possibilities and its sorry achievements.

Here are several questions organizations should ask themselves to prepare for IAT: