SchoolsFirst Federal Credit Union supports Emerging Tech Center of Excellence
Funding supports new research; provides travel scholarships for small credit unions to attend events
MADISON, WI (February 12, 2018) — The Filene Research Institute announces that SchoolsFirst Federal Credit Union is sponsoring Filene’s Center of Excellence for Emerging Technologies. This Center of Excellence is also generously sponsored by CO-OP Financial with additional support from BECU and Coastal Credit Union.
“The rapid evolution of technology and the influence it has—and will continue to have—on consumer’s lives makes it necessary for credit unions to understand how to keep pace and integrate technology into the ways our Members interact and transact with financial services organizations,” said Bill Cheney, SchoolsFirst FCU President/CEO.
SchoolsFirst FCU’s support of this center not only enables Filene to continue working with leading experts and academics in the field of emerging and evolving technologies relevant to consumer finance, but also empowers credit unions, especially those under $100 million in assets, to learn from and engage directly with researchers and like-minded peers during the Center’s annual event.
“We are grateful for the passion SchoolsFirst FCU has for supporting the entire credit union system and its ability to effectively and efficiently evolve with the emerging technologies that consumers do and will continue to expect from their financial providers,” said Mark Meyer, Filene CEO. “It is essential that credit unions have access to the best information available on navigating the evolving technology landscape.”
The newest research from this Center, “Weighing the Risks of a Fintech Partnership” was released this week, authored by the Center’s lead Research Fellow, Richard Swart, visiting researcher at the UCI Institute for Money, Technology and Financial Inclusion (IMTFI).
“This is why we are excited and honored to support Filene’s Center of Excellence for Emerging Technology. Their important research will help credit unions make technology advancements that will better serve Members, improve operational efficiencies, and benefit the credit union movement overall,” said Cheney.
The first report under the Center for Emerging Technology was released in 2016. Led by academic thinkers from across North America, Filene’s five Centers of Excellence produce unique research and engagement opportunities for Filene members and the credit union system. Designed to address the changing needs of credit unions and their members, they explore critical and emerging topics regarding the future of consumer financial trends to encourage credit unions to think differently and do amazing things to change people’s lives.
About Filene Research Institute
Filene Research Institute is an independent, consumer finance think tank dedicated to scientific and thoughtful analysis about issues affecting consumer financial wellness, the future of credit unions, and cooperative finance. Founded 30 years ago as a 501(c)(3) nonprofit organization, Filene moves credit unions forward with research and incubation support. For more information, visit filene.org and @fileneresearch.
About SchoolsFirst Federal Credit Union
SchoolsFirst Federal Credit Union was founded in 1934 as Orange County Teachers Credit Union, when 126 school employees pooled $1,200 and established a cooperative financial institution to help improve each other’s lives. Today, SchoolsFirst FCU serves more than 790,000 school employees and their families in 10 Southern California counties with a full range of financial products and services—from savings and loans to investment, retirement and insurance products. The Credit Union ended 2017 with more than $14 billion in assets and remains the largest credit union in California and the fifth largest credit union—and the largest serving school employees—in the country.