Corporate Central Credit Union, a $1.7 billion institution based in Muskego, Wis., and the Wisconsin Credit Union League are collaborating on a program called the Wisconsin Ideation & Local Development (WILD) Initiative, which is seeking participants and credit unions for a nine-month process that will develop financial products, services and business models that “increase credit unions' relevance as Americans' best financial partner.”
The Wisconsin Credit Union League and Corporate Central CU will coordinate and fund the program, while the Filene Research Institute will engage the participants and credit unions in the ideation, development and implementation of the program.
The goals for the program include:
- Significantly impacting a credit union's strategy and member service, rather than presenting a short-term fix
- Immerse participants in a leadership opportunity that clarifies a vision for their credit union
- Instill in participating credit unions a deliberate, comprehensive and disciplined approach to innovation
- Develop new capabilities for innovation that empower teams over the long term
- Stretch and build internal competencies that continually foster solution building
- Help credit unions realize their potential offering programs and products that correspond to the league’s REAL Solutions program
- Strengthen credit unions as promoters of financial wellness in Wisconsin.
The initiative will commence in August and will continue into 2019. Applications and/or nominations for the initiative are due by August 10. The selected participants must belong to the Wisconsin Credit Union League they must represent credit unions of diverse sizes, geography and fields of membership.
Elry Armaza, impact director & analyst at the Filene Research Institute, described how organizers hope the initiative will work: "You'll go from observing and identifying problems to creating the type of innovative solutions that your members can’t clearly articulate today, but when they see them, are going to say, ‘This is exactly what I needed,’" he stated.