Are checking accounts financial services ‘film’?

Credit unions need to offer tools that solve our problems going forward.

A still life of accessories from old film cameras: camera, lens, film cassette, piece of film, film container.

In the past, photography relied on film and printed photographs. Today, it relies on electrons to capture and distribute images to our family members and friends. The tools we once associated with photography became obsolete at the exact same time the concept of capturing and sharing images with family, friends and people we may never have actually met expanded at a magnitude previously unimaginable. Could that same thing be happening in financial services?

Just like babies don’t have innate photography preferences, we are not pre-wired at birth to manage our money in any particular way. In both cases, we instead observed the behaviors of those around us and mimic the solutions that appealed to us as we grew older.

While in photography we capture the moments of our lives to share now and for posterity, in managing our money, we have four basic needs:


continue reading »