At VentureTech 2023, our Silvur CEO Rhian Horgan sat down with Joshua Barclay and Jonathan Taylor to share how Silvur's data is helping credit unions navigate wealth transfer, defend direct deposits and grow their share of the retirement wallet.

Listen to the podcast here --> https://cdn.buttercms.com/7ZrgIJZaS6qEMxiVUQm0

Rhian answered Joshua and Jonathan's question about how data could be used by credit unions to meet their goals in 2024.

• Why does a credit union care when your members are electing Social Security?  Social Security is your members largest retirement asset.  When members elect Social Security they switch their Direct Deposit deposit.  Credit unions can capture this 20+ year income stream by guiding members through their Social Security Election
• Why does knowing a member's retirement date matter?  Most credit unions don't hold this data in your core.  But this data element is a better predictor of key retirement decisions (consolidating IRAs, switching direct deposit) than date of birth.  Knowing this data point helps position the credit union as  members consolidate their retirement savings accounts.
• Are Boomers rate sensitive? Much less than a younger generation!  They want to pursue their retirement dreams and won't wait 10 years. They are still buying boats, rvs and retirement homes.  They just may have sized down their expectations to match the current rate environment.