Callahan & Associates and Understood Connections Announce New Behavioral Economic Workshop for Credit Unions & CUSOs
Washington, DC — Callahan & Associates and Understood Connections are excited to announce the first in a series of behavioral economics workshops for credit unions and CUSOs that directly serve credit union members. The inaugural event will be hosted in Washington, DC on June 5 and 6, 2018.
The workshop, Understanding Behavioral Economics: the truth about decision making, will connect industry management with behavioral economic (BE) insights on messaging, pricing, and the member experience to be more effective in serving their credit union member/owners.
“For too long, companies have used insights gained from the study of behavioral economics to influence consumers to act in ways to benefit the corporation, not the consumer,” said Alix Patterson, Partner at Callahan & Associates. “We are thrilled to partner with Understood Connections who turns that dynamic on its head. They help credit unions apply the concepts of BE to help credit union members make choices that benefit THEM.”
Attendees will come away with practical and actionable tools to apply to their organization for better results that benefit the members and their credit union. Hands-on projects are interspersed throughout the 1.5 day workshop so that credit union executives can work with each other to bring new ideas and tangible outcomes back to their institution.
“Behavioral economics deals with issues like friction, as well as defaults, framing, and loss aversion. These supposedly irrelevant factors have a huge impact on the way we analyze choices, make decisions and behave,” said Rick Leander, Understood Connections Co-founder.
“Those factors can be designed in such a way to create an environment that nudges members towards a beneficial decision. It’s known as choice architecture, and it’s an exciting way to influence for good,” said Michele Wille, Understood Connection Co-founder.
Registration is limited to just 24 attendees to create an intimate and hands-on workshop. More information can be found online at www.callahan.com/BEWorkshop.
Callahan & Associates As Featured In
Who Should Attend
While there is value in learning the concepts and practices of behavioral economics across the credit union, we recommend these roles register to join us. If you work outside of one of these functions, and are interested in attending, that's okay too!
Apply these principles to influence employees to act in their best interest – for example contributing to their 401(k) or participating in wellness programs.
Use these principles to guide agents and members to be more efficient in how they talk to members, and handle business via your phone channels.
Learn how consumers can be influenced to participate in financial wellness initiatives, how to position your products and services to appeal to consumers.
Product Teams (lending, payments, deposits)
BE techniques will help you design product features that appeal to consumers way to processing choices.
Foundation of Behavioral Economics Topics
Once you understand the different concepts, we will provide a framework that participants can use to put all this powerful intelligence to good use. Hands-on projects are interspersed throughout the workshop so that credit union executives can work with each other to bring new ideas and tangible outcomes back to their institution.
Decision Making (Anchoring, Framing, and Choice Architecture)
Power Hour (Social Norms, Social Contract, Reciprocity & Defaults)
Application: How the Account Opening Process Can Increase Savings
Not an Oxymoron (Nudging, Creating Environments, Testing)
Newton was Right (Friction, Status Quo, Loss Aversion, Hyperbolic Discounting)
Meet the Team
Rick Leander, Workshop Presenter
Co-Founder and Development Director, Understood Connections
Rick Leander has 30 plus years in the financial services space, running businesses for some of the largest financial services firms in New York, Tokyo and London. 10 years ago he transitioned to the credit union movement where he found a business model more respectful of the consumer. In a variety of roles he has worked with some of the leading Behavioral Economics experts in the US and Europe, focusing on using BE to improve the business results of his companies and the financial well-being of employees and consumers. Now he has created a firm heavily focused on bringing the science of behavioral economics to the credit union Industry. Connect With Rick On Linkedin
Michele Wille, Workshop Presenter
Co-Founder and Creative Director, Understood Connections
Michele Wille is Co-founder and Creative Director for Understood Connections (UC), a behavioral insights consultancy. UC teaches credit unions how to leverage the science of behavioral economics to better connect with their members and employees. Michele has over three decades of media experience, ranging from video production in live and studio formats, launching video capabilities in marketing departments, and leading communication teams and efforts through written word, presentations, photography and graphics. Connect With Michele On Linkedin
Alix Patterson, Workshop Host
Partner, Callahan & Associates
Alix Patterson is a partner at Callahan & Associates and oversees the firm’s Client Success Unit as well as serves on Callahan’s Board of Directors. She is a lifelong credit union member and has more than 17 years of credit union industry experience. Alix has a keen ability to “see the story” within the data and has a firm grasp on the numbers credit unions need to make important decisions. She is talented at pinpointing strategic patterns and applying her data-grounded insights at both micro and macro levels to guide credit unions’ success. Alix is an accomplished presenter across multiple channels including industry conferences, moderating strategic planning sessions, facilitating Callahan Roundtables, and hosting webinar events. Connect With Alix On Linkedin
What Workshop Attendees Are Saying
Our BE workshops are powerful, engaging, informative and game changing for your business. But don't just take it from us . . . listen to what our BE workshop students are saying.