Skip to main content

Cheer Up and Change: "Wait and see is not a plan."

I posted this a year ago and thought I would bring it back to see if any of his predictions came true. Take a look and tell us what you think.

Grant Sheehan CEO

Cheer Up and Change: The Demographic Mandate

At a conference I recently attended Monday morning started off with a great session by demographer and futurist Ken Gronbach, who laid out his predictions on where we’re going and what we can expect as demographics change. I was pleasantly surprised that the future isn’t sounding as bleak as the news might have you believe.
Gronbach offered lots of predictions for where our society and our world is headed. His predictions were given with a purpose: To help associations build their vision and plan for the future. As Gronbach stressed, "Wait and see is not a plan."
I’ve decided to arrange this recap into a list of my takeaways rather than a narrative recap. I hope you get as much out of this information as I did!
Things to Expect:
Big Changes in Retail: Gronbach explained that Generation Y, who are now ages 10-29, are a generation that shops primarily online. We can expect to see a shift in retail, especially away from the big box stores of today.
3-D Printing: I’ll be the first to say that this technology blows my mind. I don’t get it, but Gronbach said that I should. He also said manufacturing industries especially need to watch out for this trend.
Remote Everything: From robotic surgery to drone aircraft operated from another continent, Gronbach says this is just the beginning in terms of remote operations. This also applies to education, and colleges are already seeing a declining enrollment, supporting this trend.
Elderly on Steroids: With improving healthcare in our country, Gronbach says in the near future it won’t be unheard of to find people living to 120. Is our society ready to support the needs of this growing group of elderly people? (Gronbach says my home state of Florida should especially be watching out.)
Cars that Drive Themselves: Now, call me cynical but I don’t see this. I was promised flying cars back in kindergarten and those haven’t come to fruition, maybe that’s the root of my cynicism. Gronbach says that these cars aren’t far away, and explained that we can expect them to make us safer on the roads.
Homogenization of Culture:  Today 35 percent of the U.S. market is a minority. That statistic paired with the statement by Gronbach that Generation Y seems to be the first that does not see race or color will level the playing field for minorities, leading to a more homogenous culture.
Smaller Housing and Hotels: Walk around your nearest IKEA store and Gronbach says you’ve just seen the future. He says homes will be smaller, more energy efficient and will feature more sophisticated security systems. He also predicted a rise in new home construction as more Gen Y members leave home, get married and start their own families.
Entertainment at Home: Think Netflix and video game culture. Gronbach says fewer of us are leaving our homes for entertainment like movies and even recreation like riding bikes. This may give us a clue as to where the obesity epidemic he also mentioned is stemming from.
Car or Internet: Which would you choose? Perhaps not surprisingly Gronbach says if given this choice most young people today would choose the Internet. In fact, 25 percent of teens who are eligible to get their drivers licenses, don’t.  (Interestingly, Gronbach took this opportunity to point out that teen pregnancy today is on a decline.)
Succession Planning: "Baby Boomers can’t just walk out," Gronbach said, pointing to the huge amount of knowledge, both experiential and operational, that this generation is holding on to. Sharing that knowledge with the new generation, is key to the survival of our businesses and industries, he said.
Recruitment Strategies: Interestingly, the goals of Generation Y and the perks that attract them are being able to help others, being a good part, and building a successful marriage. Goals like being rich and famous fall lower on the list. Gronbach also stressed that Gen Y, "will not work for mean people." It’s important to know what this generation is looking for if you’re going to attract the best and the brightest.
Immigration Reform: While many people think Latin America when they think of immigration reform in our country, Gronbach says to look to the east instead. He predicts rising numbers of immigrants from the European Union and Asia. The typical look of these immigrants is different than you might imagine, with many being rich, young entrepreneurs.
I’ve thrown a lot at you here but I thought they were all interesting points. Which one jumped out at you most? I’d love to hear what you think about these future predictions.

Comments

Popular posts from this blog

Bipartisan Bill Would Expand Federal Credit Union Investment Authority

WASHINGTON—Reps. Janelle Bynum (D-OR) and Young Kim (R-CA) introduced bipartisan legislation Thursday that would significantly broaden the investments available to federal credit unions, including giving them new authority to invest in corporate debt and asset-backed securities. Young Kim The Credit Union Investment Authority Act would amend the Federal Credit Union Act to expand federal credit unions’ investment authority. Under the bill, federal credit unions could invest in marketable debt obligations issued by companies and other organizations that are not limited to serving credit unions. The legislation would cap a credit union’s investment in the obligations of any single issuer at 10% of its paid-in unimpaired capital and surplus. The measure would also expressly authorize investments in asset-backed securities as defined under the Securities Exchange Act of 1934. Kathleen Coulombe The bill would require the NCUA board to issue implementing regulations within one year of enactm...

Liquidity Resources

Liquidity Resources Liquidity is a credit union’s capacity to meet its cash and collateral obligations at a reasonable cost. Adequate liquidity is necessary to efficiently meet both expected and unexpected cash flows and collateral needs without compromising the credit union’s daily operations or financial condition. Effective credit union management identifies, measures, monitors, and controls exposure to liquidity risk. Primary Risks In managing expected cash flows, a credit union may experience situations that increase its liquidity risk. These situations include mismatches between sources and uses of funds, market constraints on the ability to convert assets into cash or to access sources of funds (market liquidity), and contingent liquidity events. Changes in economic conditions or exposure to credit, market, operational, legal, and also can affect an institution’s liquidity risk profile. None of these risks are mutually exclusive, and interrelated risks may contribute to increase...

Senate, 51-47, has confirmed John Crews to the NCUA board

WASHINGTON—The U.S. Senate, 51-47, has confirmed John Crews to the NCUA board, clearing the way for him to succeed Kyle Hauptman and return the agency to a single-member board following the Trump Administration's removal of Democratic board members Todd Harper and Tanya Otsuka earlier this year. Maintaining the foundational stability of the credit union system Supporting efficient, risk-based regulation that accounts for institutional size and operational differences Preparing for technological advancement while safeguarding member assets Encouraging the growth of new credit unions to serve underbanked and military communities Preserving an open, accessible, and collaborative dialogue between the NCUA and the credit union movement Crews, who most recently served in the Treasury Department, has said his priorities include reducing regulatory burden for smaller credit unions, encouraging innovation and supporting the chartering of new credit unions, while maintaining the safety and s...

Just What Is Our Gross Domestic Product

    A core measure of a nation's total economic activity, gross domestic product represents the value of all final goods and services produced within a country's borders in a given year. Economists can calculate a country's aggregate economic activity by adding together its total consumer spending, business investment, government spending, and net exports. As of June 2026, the US' inflation-adjusted GDP was about $24.2T. > The three different ways to calculate GDP. ( More ) > How "nominal" GDP differs from "real" GDP. ( More ) Since the concept was popularized by Nobel laureate Simon Kuznets in the 1930s, GDP has become one of the most important economic indicators in both domest...

Dolphin Debit, Enters into Partnership With CUSI

 HOUSTON–  Dolphin Debit , a full-service ATM management company, said it has entered into a strategic partnership with Credit Union Services, Inc. (CUSI), the Service Corporation of the MD|DC Credit Union Association. “Through the strategic partnership, CUSI adds a budget-ready, industry-leading ATM management program to its portfolio of solutions for credit unions in the Maryland and D.C. region,” Dolphin Debit said. According to Dolphin Debit, its ATM outsourcing service includes purchase and deployment of new ATMs, purchase of the financial institution’s existing ATMs, terminal driving, transaction processing, ATM maintenance, armored car service, communications, monitoring and dispatch, and cash management. “We welcome this oppor...

Not Your Mother’s Credit Union

“Stablecoins aren’t a speculative play. They’re the next evolution of payments — and a chance for credit unions to lead, not lag. It starts with connecting members to DLT rails - the digital wallet. Without that, nothing else can happen. It’s just a new payment rail - embrace it or lose the relationship. It’s that simple.” While ‘ stablecoins ’ were the prevailing buzzword across Money20/20 this year, the credit union industry had a significant presence. Small financial institutions have staked a place in the future of payments. Credit unions  received a significant boost this summer with the enactment of the stablecoin bill into law. The Guiding and Establishing National Innovation for U.S. Stablecoins Act authorizes subsidiaries of federally insured credit unions, such as credit union service organizations, to become issuers. Not Your Mother’s Credit Union A Money20/20  fireside chat  with the regulator for credit unions that I moderated focused on the rulemaking task a...

CFPB Issues Final Rule on Remittance Transfers; Proposes Changes As Well

On January 20, 2012, the CFPB adopted a final rule amending Regulation E (Electronic Fund Transfers) to include consumer protections for various types of remittance transfers. The rule was originally proposed by the Federal Reserve Board last May; however, authority to finalize the rule-making transferred to the CFPB on July 21, 2011  ****More At;  CFPB Issues Final Rule on Remittance Transfers; Proposes Changes As Well : Written by Bernadette Clair, Regulatory Compliance Counsel   

Interest-bearing stablecoins could siphon deposits from community banks and credit unions

  WASHINGTON — Warning that interest-bearing stablecoins could siphon deposits from community banks and other traditional financial institutions, the American Bankers Association joined 52 state bankers associations from across the country in submitting a   letter   to the U.S. Department of the Treasury urging strong implementation of the GENIUS Act’s prohibition on interest for payment stablecoins. The letter, which responds to Treasury’s advance notice of proposed rulemaking regarding implementation of the GENIUS Act, emphasizes the need to preserve the law’s core intent: ensuring stablecoins serve as payment tools, not investment vehicles. iStock-Gri-spb “The GENIUS Act’s prohibition on a payment stablecoin issuer paying interest or yield on payment stablecoins reflects Congress’s intent for payment stablecoins to be used for transactions and not as investment vehicles,” the associations wrote. “Treasury must reinforce this intent.” The associations warn that wit...

How to Prepare for a Recession

  By Ray Birch IRVINE, Calif.—There’s little chance the Federal Reserve will steer the U.S. away from a recession in the next 12-18 months, says one economist, who adds delinquencies among the nation’s lenders could become an issue in the near future. Elliot Eisenberg, chief economist for economic consultancy GraphsandLaughs, said during a recent Origence webcast he does not think the recession will be deep. But he also urged credit unions to revisit loan loss reserves built during the pandemic and to shore those up again. What the growth of inflation will come down to, explained Eisenberg, is whether the Federal Reserve, as it adjusts rates upward to curb inflation, will be able to engineer a “soft landing” for the econo...

Become your kid's mortgage lender

Between slumping prices and low mortgage rates, it's a good time to look for real estate bargains. But thanks to tightened lending standards, legions of young would-be homebuyers aren't exactly in a position to take advantage of the opportunity. That's where their parents come in: One in three first-time buyers received either a gift or a loan from their families to help buy a home in 2011, according to the National Association of Realtors. **** More At; Become your kid's mortgage lender :