MEMBERS Development Company teams up with futurethink to offer innovation training to participating credit unions
Program helps organizations model innovative thinking and ignite positive change
MINNEAPOLIS, MN (December 7, 2017) — After considering dozens of specialized training providers, MEMBERS Development Company has selected futurethinkto offer innovation training opportunities to its owner credit unions. Based in New York, futurethink focuses on four essential areas to foster innovation: Strategy, Ideas, Process and Climate.
According to MDC’s CEO, Jeff Kline, creating an innovation culture is especially important at a time when the financial services industry, including credit unions, needs to embrace digital transformation to remain relevant.
“Today’s consumers are comfortable using smartphones, tablets or watches to do almost anything – order fast food, book a flight, find a doctor, or manage their money,” Kline said. “Retailers like Amazon, Groupon and Costco have set new standards for high-quality customer experiences, so people expect the same from service providers. To keep members engaged, credit unions must find innovative ways to simplify procedures, enhance member experience, and personalize interactions.”
Kline says credit union renewal in the face of digital disruption and heightened member expectations calls for transformational thinking, and futurethinktraining programs can help. The company was founded to help organizations motivate change and build innovation skills. But that may mean discarding some old notions.
“To thrive, organizations must be willing to challenge assumptions, kill outdated rules, create a mindset for change, and develop an innovation culture that encourages smart risk-taking,” said Lisa Bodell, Founder and CEO of futurethink, adding it needn’t be complicated. “Complexity is killing companies’ ability to innovate and adapt, making simplicity the competitive advantage of our time.”
To help companies integrate innovation into their organizational strategy and success, futurethink’s training participants learn best practices for innovation problem solving, as well as hands-on techniques for igniting and role-modeling a culture of innovation in their organizations.
Bodell points to an experience inspired by the firm’s “Kill the Company” technique as an example:
Two senior HBO leaders sent an email to a random cross-section of their teams, asking for ideas on how to ‘kill’ the company. (“Pretend you’re CEO of Netflix for a day; how would you kill us?”) The executives set up an email chain, requiring everyone to contribute and build upon ideas. In two hours, they generated a four-page document that proved to be an excellent thought starter.
To take advantage of futurethinkinnovation training, MDC’s 45+ owners may choose from a variety of training models, including two-hour microlearning programs; half- or full-day workshops; or more intense boot camps, which require additional pre-work and check-ins. All training is supported by a 24/7 on-demand, online portal of innovation resources. Futurethinkalso will build customized training programs to fit individual credit union’s budgets, time and priorities.
Since its founding in 2003, futurethink has helped organizations in more than 40 countries create innovation solutions, including Google, GE, Lowe’s, and Intel.
For information on MEMBERS Development Company and its research and development projects visit membersdevelopment.com or click on the links below.
About MEMBERS Development Company
MEMBERS Development Company is owned by 40 progressive credit union organizations, including credit unions, corporates and key business partners. MDC’s unified, collaborative approach provides participating credit unions affordable access to the research, development and delivery of superior, high-value member products and services. MDC also addresses current and emerging issues affecting credit unions, such as rapidly evolving technology, new competitive forces and member experience. Founded in 2000, MDC has grown to more than 40 owners, representing nearly $100 billion in assets and 7 million consumer members. MDC’s owners and professional staff have completed an extensive list of projects that have helped improve credit unions’ bottom lines and grow their membership.