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Category: CUbit (Page 1 of 10)

GameStop Saga Is An Enormous Education Opportunity

By now, you’ve likely heard about the “battle” between the “regular people” of WallStreetBets on reddit and the “industry” of hedge funds. GameStop, a struggling retail store, found themselves in the middle of a crazy event.

Put simply, a bunch of people in that subreddit group noticed that the GameStop stock (among some others) was heavily shorted. Without going into details, it means people were betting on the share price to fall.

And it wasn’t just a little bet; the exposure was massive (over 100% of the shares, which is legal and possible).

Short Squeeze – Putting on the Pressure

So this online community made a plan to take on the Goliath of hedge funds. They would collectively buy up shares of GameStop. This makes bets that it will fall go south. In fact, it means the hedge funds are on the hook for paying the difference.

This is why shorting stocks is an extremely risky strategy that you should only do if you really understand what’s happening.

What they did is called a “short squeeze”, and it put the pressure on the hedge funds to sell out of their shorts. To do so, they end up buying back the shares, making the stock price rise again.

Since shorts are the traditional market in reverse, the “crash” it caused made the price go up. Thus, the crazy begun.

Get the (Stock) Info

Plenty of great sites have entertaining and informative analyses of the whole episode. By the time this is published, they’ll be more, as I’m sure it will change by the minute. So I’m not going to go into any more detail here.

Education Opportunity

What matters for us in the credit union world is the exposure. People are talking about the stock market. It has memes galore. It’s trending on every social media network. People. Are. Interested. In. Stocks.

So take advantage of this opportunity! Advance your mission of financial literacy and education (and get a bit more member cred) by talking about it.

  • Help members understand what is happening
  • Show them how they could do the same (responsibly)
  • Connect them with your own investment solutions or advisors
  • Create mini-quizzes to present stock concepts
  • Let members discover “what kind of investor are you?” through questions

You have your member’s attention. Use it for good.

Let Me Explain

To make it easier, I said most of this in a video. Watch, learn, share, and act!

Geek Representation

Yes, that is most definitely a Weeping Angel on my shirt. Don’t Blink.

Why Senior Photo Sharing Can Risk Your Data (And More!) [Video]

Everything is strange now. If you’re reading this after we’re out of the weeds, congratulations. Because right now? It’s strange.

One disappointment for many is graduation. It just won’t happen. Or at least not how seniors expected. So, as support, a social media movement arose to share your own senior photo. I don’t get it, either.

A teenage certainty is that old people are not cool. So old people showing how old they are by sharing photos as teenagers? Yeah, as I said, we’re in strange times.

Anyway, it’s just a whole bunch of scared and restless people trying to help. Which I respect. We’re all in this together, in totally different ways.

So, Data Security?

Yes, sharing your senior photo (along with supplemental info, for some reason) is bad. And that data is getting scooped up for nefarious uses. Like what? Well, that info tends to answer a lot of security questions.

And don’t get me started on those Facebook personality tests that you have to tap Play and allow your info to be shared. Don’t. Do. Them! It’s literally handing your data over to someone you don’t know at all.

Definitely watch below to hear my perspective on security questions.

In fact, watch below to get the story. Ok, not the whole story, but the part that I could fit into a few minute video. Data security is important, and as a financial institution, it’s in your best interest to extend good practices far and wide.

Oh yeah, there’s captions for your muted enjoyment.

FYI: The shirt is from an annual run put on by local high-schoolers to raise money for a children’s cancer hospital. I’m a huge fan of the irony. And these teenagers are consistently awesome. I’m really sorry they’re missing graduation.

Is Your Credit Union Living Your Why? [Video]

In 2009, Simon Sinek hosted a TED Talk called “How Great Leaders Inspire Action”. It was there he showed the world the “Golden Circle”. And everything changed.

Ok, that’s an exaggeration. But we did now have a simple tool to evaluate how a person or company could connect to your emotions.

Today, that’s more important than ever. Marketing is always a challenge, and we’ll be facing economic hurdles for months, if not years, to come.

Beyond marketing, I had some thoughts on actually living this why. I know credit unions are community-focused, member-owned, and all that.

So are their services and practices all living that why?

2021 Update: Ally Removes Overdraft Fees…Permanently

Ally Bank Overdraft Fee Removal

It’s like they listened to this video and took the guidance to heart. I’m sure that’s how it happened.

So, are your credit unions operating at this level of financial empowerment?

Watch, then decide. And comment below about how your institution is living your why.

PS – Yes, I did call out Filene for their fabulous research and truly engaging the why everyday.

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