I have a lot of questions for credit union executives, marketers, tellers and pro- and anti-credit union lobbyists. And for this column I'm taking a break from Dodd-Frank, peer-to-peer payment trends and any credit union employee that has been busted for fraud this week.

It's finally summer and I'd like to lighten things up (because I'd like to get outside and do some yard work). I love trivia and I love to research statistics and facts that answer the question, “Did you know?”

The summer months (or weeks in Wisconsin) brings us SPF 100, lousy summer blockbuster movies, summer work hours, cookouts, mosquitos and kids at home saying, “I'm bored,” and it gives me time to lose some of the brain weight I've gained during the winter and wet spring months.

I apply much of my life and time to thinking about credit unions and questions surrounding how it all works, what issues we are facing and what if every credit union offered a taco bar? The following are some “Did you know?” questions I think about during my off-time when it comes to credit unions. And, honestly, it's what leads to some great conversations with others while I'm watching my son play baseball.

Did you know that bank robbers are caught 54% of the time? For the criminally-minded, they might not realize this, but it's almost a coin flip if they'll be caught. The FBI, thankfully, keeps stats like this. And I dug in a bit deeper to this question and found out that there are typically three styles of bank robberies: A note-passer who shows no weapon, a note-passer who shows or alludes to a weapon, and the takeover style. The latter is considered by law enforcement officials as “the most dangerous type of bank robbery.” The takeover style typically involves more than one person with guns out, demanding money and forcing people on the floor during the heist. Think of “Point Break” or “Dog Day Afternoon” as a visual reference. Unfortunately, this year Cleveland has seen an uptick in these kinds of robberies at banks and credit unions.

According to the latest data collected by the FBI, in 2015, there were 186 takeover style robberies out of the more than 4,000 bank robberies nationwide.

Did you know that you can refinance your student loans? At the time I was a college graduate, no. And that's sickening to me as I'm looking at my oldest head to college this fall. Back then, I was paying off student loans with 32% interest. It was a nightmare. Since 2009, the federal government has allowed students (who have graduated or just dropped out) to refinance their federal loans. This doesn't make sense for everyone and it's unclear where this program will end up once, or if, the Trump Administration passes a budget. All signs point to the federal student loan forgiveness program going away. For now, it's something to look into and consider.

Did you know it's estimated that we swear more than 32,000 times during our lifetime of driving a car? Obviously, that number is an estimation and for some of you, that might seem low. Which made me wonder how often tellers in the drive-thru window experience one or several of those swear words from drivers/members trying to do a transaction. Anyway, people are ticked on occasion and at times it's difficult to offer services to those people. According to AAA, there are roughly 1,200 reported cases of road rage incidents each year. Now, that's just reported cases. Insurers are taking notice because of a 2014 case, United Services Automobile Association v. Speed, where the court basically ruled that insurers do not have to cover accidents caused by a policyholder who has committed a road rage incident. And take some comfort in that fact when your staff might be dealing with a drive-thru rage incident. Speed, by the way, is the defendant's last name.

Did you know Sears launched the Discover card? It was during a Super Bowl commercial in 1986. The non-sports knowledge part of me had to look this one up – that was the game between the Chicago Bears and New England Patriots. The Bears won, 46-10. Since then, we've become a credit card nation. According to a 2014 report, credit card companies spend on average about $80 to get us to use their specific credit card. How much is your credit union spending on credit card marketing per member? Another report, this one by FINRA, shows that women carry more credit card debt than men. I couldn't find the hard data to back that up, so I'm skeptical. Regardless, it leads me to wonder how credit unions communicate or if credit unions communicate differently to different sexes and ages concerning credit cards. If you do, let me know.

Did you know the first lawnmower was patented in 1830? While patented by an English gentleman, by 1832 American parents were yelling at their kids to get off the couch and mow the lawn. I assume it went something like this: “I say, Obadiah, get yourself up off of the davenport this instant and trim down the grass around our house.” With the kid responding, “I hate you! I hate this house and this … EVERYTHING! You all are sooooo 1700s!” and stomping outside.

Maybe you can use this article to relax your brain and use some knowledge to talk to your awkward neighbors during a cookout. Just do me one favor as you enjoy this summer – make sure that you keep the potato salad refrigerated until you're ready to eat it.

You don't want to know the answer to the question: Do you know how many cases of food poisoning are caused by spoiled potato salad each year?

Michael Ogden is executive editor for CU Times. He can be reached at mogden@cutimes.com.

Instant Insights /

Did You Know? CU Edition

Related Stories

Recommended For You