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Delivering Exponential Growth through Member-Centered Innovation

This week’s event explored the concept of exponential growth from three angles: members, DEI and innovation. We discovered that financial providers that center the member experience first, then amplify innovations around the idea of meeting members’ needs both in every-day situations, and long-term moments of need and life transition, are seeing their growth grow faster over time.

Ed Filene famously remarked that "progress is the constant replacing of the best there is with something still better." At the heart of progress–or the theme of our event, growth–are the insights you gather and use to replace the best there is with something better. Over the last three days, we brought together three Centers of Excellences to talk about how credit unions can gather insights in a way that allows them to understand what members need, how to incorporate those insights into daily conversations and planning practices and ways to start looking at growth as more of a mindset and a culture. A culture that is engaging, inclusive and innovative.

My colleague, Taylor Nelms, Sr. Director of Research, reminded us at the start of this event that the word exponent originally comes from Latin, meaning to put forth, to expose, to reveal, or explain. So when we talk about exponential growth, we're also talking about what lies behind the growth. As we reflect on the last three days, remember to approach your growth strategies with exponential possibilities in mind. I hope these three highlights help you tap into that mindset.

There are real opportunities for credit unions to grow once we understand the shifts facing consumers’ financial lives using a co-creation approach. This is what will allow credit unions to more easily identify the most impactful solutions and products. 

Don't forget to join Filene for our second research event of 2022, Building your Future through Infrastructures and Ecosystems, where we will bring in our remaining 3 research topic areas to build off of what we learned this week and help prepare your organization for the future by activating partnerships, ecosystems and infrastructures. Register now to join us on August 1-2.

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