If I were to make a list of the things I'd least like to do, shopping for life insurance would rank somewhere between watching a weeklong marathon of Jersey Shore and piercing my own tongue with a rusty drywall screw. Nonetheless, here I am just over two days from the birth of my second child, and that's what I find myself compelled...err obligated to do (the life insurance part).
Without going into the particulars associated with this chore, I wanted to show you a feature that I noticed on New York Life's website. On the bottom-right of their homepage, they have a graphic that shows "Promises Fulfilled." It shows the amount that the insurer paid to policy-holder beneficiaries during the current day and year. While it's kind of a morbid thought (either lots of people died or just a few really rich people), it's certainly a direct way to illustrate that New York Life is making good on the services it claims to offer.
Although I likely won't buy life insurance from them (would have, but they make "bankers hours" seem oppressive), I love this feature and think credit unions could implement a similar graphic to quickly communicate impact. A few years ago I suggested that credit unions disclose their impact on members with transaction receipts, which would certainly work on an individual member level. But what if you were to display a daily count of, I don't know, dividends paid, dollars saved, dollars lent, bank fees our members didn't have to pay, and/or taxpayer bailout dollars received? Part American Debt Relief Challenge and part McDonald's' "90 Million Hamburgers Served"...there's an idea here, I swear.