Skip to content

Economic & Investment Conference

Wednesday, October 20, 2021 - Bloomington, MN

Alloya Investment Services Logo

Presented in association with Alloya Investment Services, a division of Alloya Solutions, LLC. - A CUSO wholly owned by Alloya Corporate FCU

By attending this event, you will gain a better understanding of the following:

  • What lies ahead for the U.S. economy in regard to economic growth, inflation and interest rates.
  • How the post-pandemic economic outlook will shape credit union operations both nationally and in Minnesota.
  • How the economic crisis sparked by the pandemic changed the political and financial landscapes in addition to altering consumer behavior.

Where: Crowne Plaza AiRE | 3 Appletree Square, Bloomington, MN 55425

When: October 20, 2021, from 10:00 am to 3:00 pm

Who: CEOs, CFOs, portfolio managers, financial officers, ALCO and board members

Cost: $100

CPE Credits: Earn up to 4.0 CPE credits.


Times shown are in Central Time.

10:00 - 10:15 amRegistration and Coffee
10:15 - 10:35 amMark Cummins, MN Network Update
John Collins, Corporate Update
10:35 am - 12:00 pm Tom Slefinger, The Post-COVID Economy | A Contrarian’s Perspective
12:00 - 12:45 pm Lunch
12:45 - 3:00 pmSteven Rick, Economic Outlook and Credit Union Forecast

Topic Descriptions


The Post-COVID Economy | A Contrarian’s Perspective

Presenter: Tom Slefinger

“When all the experts and forecasts agree, something else is going to happen.” – Bob Farrell, Wall Street Veteran

On the back of unprecedented monetary and fiscal stimulus, we have experienced a V-shaped recovery from the COVID pandemic. While the recovery is welcome news, the bigger story is that all of this is happening on borrowed money from the government.

Massive and unprecedented transitory rounds of stimulus have provided the glue for this recovery, but this is artificial and not long lasting. The “stimulus” is like your boss giving you a bonus one year and then taking it away the next year. In other words, nothing taking place today is permanent; it is all very temporary.

Yet the view of booming growth, inflation and rising yields has become a widespread narrative within the Wall Street community. Some suggest that we will have a redux of the Roaring ‘20s. However, while mainstream economists posit that the stage is set for lasting robust economic growth, no evidence supports the claim.

In this session, we will discuss why the aforementioned consensus views will quickly collide with the secular dynamics of excess debt, aging demographics and disruptive technologies, which will continue to inhibit economic growth, inflation and interest rates.

CPE Credits: 1.5
Field of Study: Economics


Economic Outlook and Credit Union Forecast

Presenter: Steven Rick

The greatest economic crisis since the Great Depression has changed the political and financial landscapes and has altered consumer behavior – perhaps for generations to come. While the worst may be over, the shifts that began as the pandemic mounted will have enduring effects on depository institutions. This presentation will assess how these shifts and the changing economic outlook will shape credit union operations both nationally and in Minnesota. The session will help you understand the coming pressures on your credit union’s financial results.

CPE Credits: 2.5
Field of Study: Economics


Tom Slefinger
SVP, Institutional Fixed Income Sales
Alloya Investment Services

Tom’s primary role is to develop and manage operations associated with Institutional Fixed Income Sales with ISI. In addition to providing strategic direction, Tom is heavily involved in analyzing portfolios, developing investment portfolio strategies and identifying appropriate sectors and securities. The ultimate goal of this activity is to optimize investment portfolio performance at the credit union level. In total, Tom has more than 32 years of combined success in fixed income analysis, trading and portfolio risk management. He has a proven track record of delivering superior investment



Steven Rick
Director and Chief Economist
CUNA Mutual Group

Steve is a director and the chief economist for CUNA Mutual Group. He is an economic researcher, analyst and forecaster with an expertise in consumer markets and the credit union industry. Rick's forecasts are the starting point for the strategic planning process and help create a clear understanding of the underlying trends and links between the general economy, the financial services industry, and CUNA Mutual Group's policy owners. Rick was previously the senior economist for CUNA's Economics & Statistics Department for 22 years. In addition to his work at CUNA Mutual Group, he serves on the Board of Directors of the University of Wisconsin Credit Union (UWCU).

He holds a B.S. in Finance as well as a

Alloya Corporate FCU is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

Scroll To Top