Innovation

Innovation goes beyond having the latest technology, it's the degree to which an institution delivers a member experience that is creative, pioneering, and leading the market. Also, creating differentiation based on having unique solutions that benefit society and the environment.

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Why it matters

Innovation matters to credit unions because it has a demonstrated relationship to member loyalty, which translates into better financial performance resulting from higher member retention and share of wallet. Credit union members are generally more loyal than bank customers, but more innovative credit unions have higher member loyalty than credit unions that are perceived to be less innovative.

Creating an Innovation Strategy that Drives Differentiation and Member Loyalty: Results from the 2nd Annual Credit Union Innovation Success Study

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Research in this topic

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Report #643 | Mar 13, 2025 | Members
Attracting and Engaging Younger Members Innovation Financial Well-being Benchmarking and Key Performance Indicators

Driving Financial Wellness through Gamification: A Pathway for Credit Unions
- Simon Blanchard
*20-Minute Read: This brief lays out the basic mechanics and psychology behind gamification, giving examples of solutions that have positively influenced financial behaviors. Driving towards increasing financial wellness and member engagement, the brief also discusses potential pathways for credit unions to leverage gamification.
Report #642 | Feb 20, 2025
Strategy and Planning Innovation Financial Well-being

The Ecosystem Advantage: Unlocking Entrepreneurial Potential Through Ecosystem Collaboration
Entrepreneurial ecosystems are naturally interconnected, with each component relying on the others to create an environment that fosters growth and sustainability— making credit unions essential to their overall health. This report serves as an action blueprint for credit unions seeking to take meaningful steps in building their entrepreneurial ecosystems—supporting the growth of small businesses and the communities they serve.
Report #639 | Jan 30, 2025 | Members
Artificial Intelligence Strategy and Planning Innovation Benchmarking and Key Performance Indicators

The AI Adoption Journey: A Survey of Credit Union Leaders
- Lamont Black
- Jessica Gamache
- Addison Davis
*20-Minute Read: Artificial intelligence (AI) is transforming the digital economy, and credit union leaders are navigating pivotal decisions on how to integrate AI into their business models. This report shares insights from a survey of 110 participants across 78 organizations, highlighting early trends, emerging strategies, and the positive potential of AI to empower members, employees, and leadership, while encouraging credit unions to evolve and refine their AI approaches.
Report #636 | Dec 20, 2024 | Members
Innovation

Introducing LoanNFT, a Blockchain Solution for the Secondary Loan Market
- Lamont Black
*25-minute read— This report introduces LoanNFT, a blockchain-based prototype developed over the past year through a partnership with Dr. Lamont Black and FiLab. LoanNFT seeks to enhance the efficiency of the secondary loan market, creating a decentralized, shared database for loan transactions, eliminating the need for centralized intermediaries and reducing costs.

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Blog | Mar 14, 2025
Innovation

Webinar: i3 Prototype Presentations (parts 1 & 2)
- McKaye Black
- Maddie Gunderson
Review the webinar materials from i3 Prototype Presentations (Parts 1 & 2), hosted on March 12th and 13th, 2025.
Blog | Feb 27, 2025
Innovation

Meet the Future of Credit Union Innovation: Filene's i3 Wave 21
At Filene Research Institute, we believe the future of credit unions is shaped by forward-thinking, innovative leaders who are willing to tackle the industry's biggest challenges. That’s why we’re thrilled to introduce the 23 visionaries selected for Wave 21 of Filene’s i3 program—our prestigious two-year innovation leadership experience designed to cultivate changemakers who will drive meaningful progress in financial services.
Research Event | May 7, 2025
Artificial Intelligence Innovation

EDGE 2025
Las Vegas, NV

Registration is now open for Trellance's EDGE event, in partnership with CUDX and Filene. This event aims to inspire and ignite innovative thinking by showcasing the latest advancements, cutting-edge trends and emerging technologies, thus enabling attendees to envision and create the future.
Blog | Feb 10, 2025
Artificial Intelligence Strategy and Planning Innovation Diversity, Equity and Inclusion Board Governance Benchmarking and Key Performance Indicators

Webinar: Highlights From big.bright.minds. 2024—Most Popular Sessions!
- Holly Fearing
- Jenny Armistead
Review webinar materials from "Highlights From big.bright.minds. 2024–Most Popular Sessions," hosted February 6th, 2025.

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Innovation

Why it matters

Research in this topic

Driving Financial Wellness through Gamification: A Pathway for Credit Unions

The Ecosystem Advantage: Unlocking Entrepreneurial Potential Through Ecosystem Collaboration

The AI Adoption Journey: A Survey of Credit Union Leaders

Introducing LoanNFT, a Blockchain Solution for the Secondary Loan Market

More opportunities

Webinar: i3 Prototype Presentations (parts 1 & 2)

Meet the Future of Credit Union Innovation: Filene's i3 Wave 21

EDGE 2025

Webinar: Highlights From big.bright.minds. 2024—Most Popular Sessions!

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