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 http://www.callahan.com/BEWorkshop .