What The Heck Is An Exogeneous Variable, and What Does It Have To Do With My Credit Union, Anyway?
By: David Frankil, NJCUL President/CEO 

For those of you that can remember way back to macroeconomics in ECON 101, an exogeneous variable is an economic variable that affects economic activity, but which is independent of that activity. In layman’s terms, things like interest and unemployment rates over which you have no control, but which can have a major effect on your business.

The general economic environment within which we operate falls into this category. As individual actors, credit unions have no control over it, but understanding current conditions and trends is critical for CEOs and Boards charged with making well-informed strategic decisions.

Convention Blog
Looking Ahead to the 2018 NJCUL Annual Convention
By: David Frankil, NJCUL President/CEO

We’ve just opened up registration for the 2018 NJCUL Annual Convention, and it promises to be bigger, better, and more focused on your needs than ever before.

Highlighting the program is our CUNA Mutual Group Keynote – Jonah Berger, Professor of Marketing at the Wharton School and best-selling author. You may recall Jonah making his inaugural credit union appearance at our 2017 CU Reality Check, and he was the highest-rated speaker among an all-star cast. Since then, he has been picked-up as a speaker by numerous other credit union groups.

My only regret about that meeting was not being able to feature Jonah more prominently – and the 2018 NJCUL Annual Convention gave us the chance to remedy that.

His presentation at CU Reality Check was focused on one of his bestsellers – “Contagious: Why Things Catch On,” with a message that is directly relevant to credit unions, i.e., how we can better communicate the value of our business model to uninformed consumers. See my interview with Jonah here.

This year, Jonah’s presentation is going to focus on another one of his bestsellers – “Invisible Influence: The Hidden Forces that Shape Behavior.” This message is also meaningful – why our members do what they do, and why we do what we do.

But it doesn’t end there – we’ve pulled together a tremendous roster of speakers.

Convention Blog