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  1. Resource Center
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  3. Lending in Limbo: Decoding the Wonky Financial Forecast

Lending in Limbo: Decoding the Wonky Financial Forecast

  1. Resource Center
  2. Podcasts
  3. Lending in Limbo: Decoding the Wonky Financial Forecast
November 15, 2023
In this episode, we discuss the wonky economic and financial challenges that financial institutions are facing, such as interest rate fluctuations, technology's influence, liquidity concerns, and the need for growth strategies in a rapidly changing financial landscape with Allied Solutions' Chief Lending Consultant Jack Imes. 

 

Jack Imes, Chief Client Lending Consultant at Allied Solutions

 
Jack Imes, Chief Lending Consultant, Allied Solutions
 
Jack has years of executive lending experience with both credit unions and banks. Prior to Allied, he served as the Chief Lending Officer at JSC FCU, a $2.65B credit union. Before that, he was the CLO at Honda FCU and the VP of Commercial Lending at US Bank, among other top lending roles spanning over three decades. At Allied, Jack brings his credit union and bank experience to serve as a consultant and advisor to our clients and sales team.
 

Want More? Read more about the 'wonky' economy in the blog Wonkonomy.


 

In this episode…

[0:28] Meet Jack Imes

[2:41] Do you have any hidden talents?

[4:12] What is “wonky”?

[5:06] All of the financial institutions got caught flat-footed.

[6:55] We’re seeing credit card balances the highest they have ever been.

[7:52] FIs are budgeting for 5% growth [in 2024]. How are they going to get that 5%. That’s challenging in this market.

[9:00] How is technology affecting how FIs are positioning themselves moving forward?

[10:37] Credit unions are and should be proud of the fact that they are very cautious and conservative.

[12:40] What advice to you have to help FIs with their lack of liquidity?

[14:19] Are we out of the woods yet?

[14:43] With inflation and higher prices, at some point people are going to stop buying.

[15:48] It’s that repeatable approach to their members and communities so we can get through this together.

[16:06] I think we got lucky for a bit.

[16:45] I just want to avoid what they call the ‘R’ word [recession].

[17:21] We see credit unions do things that other financial institutions won’t.

[18:18] Remember, wonky doesn’t mean bad. Wonky is a great way to get someone’s attention.

 

 

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