CEO Leaders Present for the CU*Answers Innovation Grant
GRAND RAPIDS, MI – November 30, 2012 – CU*Answers, the 100% credit union-owned cooperative CUSO, recently concluded its annual CEO Strategies Week held in Grand Rapids, Michigan. On Wednesday, CU*Answers led a CEO Roundtable which was highlighted by special guest speaker Jack Antonini, CEO of NACUSO.
The day also featured presentations from the four finalists of CU*Answers’ Innovator Investment and Grant Program, which is focused on credit unions developing potential strategies for delivering various new products or services to their member community. Each finalist was given 35 minutes to present their idea to the group, and was also asked to field questions from the attendees. Credit union CEOs were provided the opportunity to complete a ballot that would be presented to the CU*Answers Board of Directors for further consideration. CU*Answers said its Board will make its final decision and announce the awards by January 31, 2013. CU*Answers added that any winning idea may receive up to a $10,000 grant from the cooperative in helping implement their strategy.
CU*Answers CEO Randy Karnes suggested that while listening to each presentation, attendees focus upon several key questions:
- Is this a good business for the network to invest its money?
- Even if not a direct business, is it still a good idea; something that is worthy of the cooperatives financial support?
- Is it a repeatable business that could potentially be implemented in any community by other credit unions or network partners?
- Thinking as a venture capitalist, would you invest your own money in this program idea?
The CUSO noted that last year’s grant recipients provided a presentation to update the group on progress made from their winning proposals.
About CU*Answers, Inc.
CU*Answers offers expertise in implementing technical solutions to operational needs, and is a leader in helping credit unions form strategic alliances and partnerships. CU*Answers provides a wide variety of services for credit unions including its flagship CU*BASE® processing system (online and in-house) and Internet development services featuring It’s Me 247 online and mobile banking. Additional services include web development, network design and security, and image check processing. Founded 40+ years ago, CU*Answers is a 100% credit union-owned CUSO providing services to credit unions representing nearly 1.5 million members and $10 billion in credit union assets. For more information, visit www.cuanswers.com.