Corporate Central sponsors Filene’s research project on credit union innovation
MILWAUKEE, WI (February 1, 2021) — Corporate Central is proud to announce its sponsorship of a new research project launched by Filene Research Institute aimed at helping credit unions to be acknowledged as leaders in financial services innovation. Filene’s Center of Excellence for Innovation and Incubation will conduct academic and applied research to better understand innovation in financial services and improve the North American credit union system’s innovation capabilities and capacities. The new venture is set to launch in February.
The three-year project will supply credit unions annually with insights and resources to enhance their commitment to and leadership in consumer-focused innovation and product development. Through the work of this project, credit unions will have the tools needed to serve as a model for effective consumer friendly business and social innovation approaches.
“Innovation and technology play integral roles in the success and advancement of any industry. The credit union movement is no exception,” said Chris Felton, President/CEO of Corporate Central. “Given our current environment, collaboration within our movement is more important than ever. Credit unions must seize the opportunity to adapt and introduce new solutions and business models that support their growth and impact. Filene’s Center of Excellence for Innovation and Incubation will help credit unions find ways to expand their capabilities. Corporate Central is in full support of this initiative and very proud to be a sponsor.”
In collaboration with an advisory council of credit union leaders and a dedicated research fellow, the Center’s work will:
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- Define, measure, and landscape business model innovation in credit unions and the consumer finance system, identifying opportunities for credit unions to differentiate on innovation.
- Investigate models for creating and sustaining cultures of innovation, resilience, and organizational agility.
- Study and expand product development and service design strategies in credit unions and consumer finance.
- Explore new cooperative and consumer financial products, services, technologies, and operational approaches to build a playbook for the future of financial services.
- Work with academics on proprietary innovation index to benchmark credit unions and other financial institutions.
- Evaluate the impact of credit union innovation to gauge the effect of new products or business
models on business sustainability and member financial health.
- Interested credit unions can learn more on Filene’s website at https://filene.org/blog/new-research-aims-to-solve-consumer-and-business-problems-in-novel-and-sustainable-ways.
About Corporate Central Credit Union
Corporate Central Credit Union is a federally insured financial cooperative built on the values of commitment to service, fiscal responsibility, and respect for the individual. We cultivate a culture of respect, ethics, teamwork, and innovation. We are "Helping Members to be Wildly Successful" by delivering industry knowledge and expertise to help credit unions achieve their strategic objectives and compete in today’s evolving financial services industry. We are motivated to passionately serve our members and strive to learn, create, and innovate daily. Please visit corpcu.com to learn more, and follow us on Facebook, LinkedIn, Twitter, and YouTube.
About Filene
Filene Research Institute strengthens organizations through innovative research and incubation to improve consumer financial well-being. As an independent cooperative finance think tank, Filene’s membership network connects a community of leaders and bright minds to change lives through
innovation, truth, and cooperation. In addition to delivering cutting-edge, actionable academic research, Filene also provides incubators to test and scale solutions, events to spark organizations into action, and advisory services to help accelerate and implement innovation. For more information, visit filene.org and @fileneresearch.
