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August 30, 2012
Mary Beth Spuck, vice president of organizational development for TwinStar Credit Union, is one of 18 credit union executives selected by the Filene Research Institute to join the institute's i3 (Ideas, Innovation, Implementation) program, which fosters the development of new ideas and innovations for credit unions.
Each member serves a two-year term, with half the membership turning over annually. Members participate in semi-annual meetings arranged by Filene and are responsible for piloting new ideas at their credit unions. Filene received more than 70 applications from credit union executives.
“I am looking forward to working with others from around North America to develop and implement new ideas that will benefit credit union members,” Spuck said, adding that she was specifically looking forward to working with and learning from i3 members coming from the Canadian credit union movement.
"Mary Beth brings to our i3 program the unique combination of leadership, grit, and intellectual curiosity that makes innovation work for credit unions," said Filene Research Institute innovation director Matt Davis. "Her track record at TwinStar and The Paragon Group clearly reveals her gifts of building teams, identifying problems, and creating solutions, which is exactly what we are trying to accomplish."
Spuck sees innovation as being more important now than ever, as credit unions must stay on the cutting edge in order to keep up with an unprecedented variety of competitors.
“In this environment, we no longer have typical competitors where we would look at banks [alone],” Spuck said. “We’re now looking at Google Wallet as a competitor, Wal-Mart is a competitor. It’s across the board. Costco offers financial services, so we now have to go up against those kinds of competitors.”
i3 has helped launch programs such as Save to Win (prize-based savings accounts), nationwide Savings Challenges (reality TV meets wallet improvement), and Debt in Focus (an anonymous, online financial assessment tool), which have improved the way credit unions provide financial guidance to their membership. Credit unions can learn more about all these ideas by e-mailing firstname.lastname@example.org.
"While the struggles of consumers and financial institutions are all too real, this environment is perfect for innovation," said George Hofheimer, Filene's chief research and innovation officer. "We're confident that this new group of i3ers has the skills, passion, and grit to transform the lives of consumers through credit unions."
The i3 team will meet for the first time in its new form in October.
Questions or Concerns? Contact Matt Halvorson, Anthem Editor: email@example.com.
Posted on 08/30/2012View All Articles
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