Archive for Other Fun Stuff

Inheriting Debt: The Impact of Debt on Loved Ones Should the Borrower Unexpectedly Die

By Nikki Griggs, Marketing Manager, NAFCU Services.

What do Thomas Jefferson, Judy Garland, and Michael Jackson have in common? They each left a tremendous amount of debt behind when they died. With their wealth and assets, it’s easy to imagine the red tape and the burden this put on their loved ones.

But perhaps you’re thinking that a founding father and a couple of wealthy, out-of-touch celebrities may not be the most relatable trio. Fair enough. Then what about debt that is left behind by the average American today? Is it forgiven when someone unexpectedly dies?

It’s widely known that consumer debt has touched all generations culminating with 2009’s Great Recession. From Baby Boomers affected by the mortgage crisis to the Millenials’ huge student loan debt to the staggering credit card debt across the boards, many Americans find themselves in precarious financial straits. But what may be equally alarming and less known is the significant impact that a loved one’s debt can have on his or her survivors if arrangements had not been made for post mortem coverage. Read more

Adult Kids Are Returning to the “Nest” in Record Numbers, But Do They Know Its Financial Impact on Their Parents?

When one of my friends recently told me her nephew who’s in his mid-20s was temporarily moving with his girlfriend to her parents’ home to save money and pay down their student loans, I had flashbacks of my own family doing the same through several generations. My brother temporarily moved back to my parents’ house with his very pregnant wife and very large dog back in the late ‘80s, and my parents did the same when they were new parents.

In order to give my friend some unsolicited (!) advice for her nephew, I called my mom to ask what their financial arrangements were way back when. Turns out both my brother and parents were freeloaders! All kidding aside, my parents did not pay rent to my grandparents and, in turn, my parents gifted rent-free accommodations to my brother and sister-in-law. Read more

One Thousand Pound Pumpkins Don’t Grow By Chance (Nor Do Executive Benefit Plans)!

Guest post written by Tyler Quigley, National Director of Marketing, Burns-Fazzi, Brock (BFB). Tyler and his family tend their field of dreams in Mountain Green, Utah.

 

Burns-Fazzi, Brock (BFB) is the NAFCU Services Preferred Partner for Executive Compensation and Benefit Consulting.

As you may recall, my last blog post in August compared growing giant pumpkins to growing a world-class executive benefit plan. I wanted to follow up with an update on how the 2013 season ended up for me and my family. Well, it turned out very successfully with a 1,238 pound pumpkin!! This weight was good enough for a first place finish at our Utah Giant Pumpkin Growers annual weigh-off which was held last Saturday.

Have you ever seen a 1,238 pound pumpkin before?

A few takeaways from this season (that work equally for both pumpkin growing *and* for growing an executive benefit plan): Read more

Why Aerating Wine Is Like Implementing Predictive Analytics

Guest post written by Kristin Locklear, wine enthusiast, avid fan of Sonoma, new believer in aerating, and Account Executive for Credit Unions at SAS, the world leader in predictive analytics. 

SAS is the NAFCU Services Preferred Partner for Business Intelligence, Predictive Analytics Software & Risk Assessment.

Sonoma. The backdrop for some of the nation’s most beautiful scenery and wine was also the backdrop for this year’s NAFCU CEOs and Senior Executives Conference.  And what a backdrop it was! With pristine rolling hills, deep green valleys, and row after row of immaculate vineyards, it was hard to not feel as if you had just stumbled upon pure heaven on earth.

As more than 120 of us gathered to discuss such topics as regulation and leadership, it was hard to suppress my excitement for the scheduled group activities at hand. On Day 2, several buses departed for the ever-so-popular wine tour. What was expected to be just a day sipping fine wines, turned into a day of unexpected education (coupled with a little wine-sipping of course).

One of the ideas my tour group seemed to get hung up on was aerating (or letting the wine “breath” to enhance flavors), and for my sake, I’m glad they did. As it turns out, many of us had been doing it all wrong! Our tour guide, Heather, was a wealth of knowledge on this subject matter. She enthusiastically walked us through our lesson on what makes for good aeration and why it is often a necessary step to enhance red wine. Read more

Great Strategy and Great Wine

Originally posted on CUInsight.com

No, this is not a post about how strategic discussions can be improved with fine wine, although that is probably true, and it would be fun to test the hypothesis. This post is about the best of both worlds, and combining a vocation with an avocation.

I love my job, which often involves thinking strategically on behalf of credit unions and with our Partners, and have also become a fan of wine, in particular California Cabernet. My chance to blend the two and share with all of you as well is coming at the NAFCU CEOs and Senior Executives Conference (Sonoma, CA, April 24–26, 2013).

NAFCU Services sponsors a welcome reception every year at this Conference. Given that we are in wine country, we wanted to do something special that would be a more interactive and interesting experience than just having house wines for a “typical” reception. We’ve all been to plenty of them, where you grab an anonymous glass of non-descript wine and look for the next hors d’oeuvres tray.

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