MADISON, Wis. (9/17/15)--Filene’s i3 Innovation Program, which has produced a litany of groundbreaking ideas that credit unions now use daily, accepted 16 new credit union executives into the program this week.
Charged with fostering development of new ideas and innovations for credit unions, each member will serve a two-year term, which kicks off in December at Harvard University.
“Credit unions face non-traditional competitors, disruptive technologies, and increasing demands from consumers,” said Andrew Downin, Filene innovation director. “Our industry needs to challenge conventional thinking and processes in order to compete in today’s market and meet member demand. Filene i3 innovators are going to lead the way.”
Only 20% of all applicants are accepted into the i3 program, according to Filene. Those who are must commit to conceiving, building and testing several innovative concepts, which they must then pilot at their credit unions.
The group also must attend two national meetings a year and participate in regular group work.
“If you want to get better, you’ve got to play with the best,” said Steve Webb, chief operations officer at Neighbors FCU, Baton Rouge, La., and former i3 innovator. “Historically, Filene, especially i3, has been considered the brain trust for our industry. They think bigger, they think broader and these attributes are very appealing to me both personally and professionally.”
More than 30 former Filene i3 innovators have gone on to become president/CEOs of a credit union or system organization, Filene said.
The new class of innovators are: