Workers Credit Union joins MDC, sees member benefit in “comprehensive research” and collaborative model as a “force multiplier” for credit unions
MINNEAPOLIS, MN (May 16, 2016) — Workers Credit Union’s philosophy is to “do what’s right” for members, the community and employees, so it isn’t surprising that the $1.3 billion Credit Union decided to partner with MEMBERS Development Company. MDC is a CUSO that facilitates collaboration through shared R&D and cost savings among some of the nation’s largest credit unions.
Doug Petersen, Workers Credit Union’s President/CEO, says working with MDC and its other owners will translate to tangible benefits for WCU members and, in turn, enrich the communities it serves and local economy.
“Workers’ membership will benefit from the most comprehensive research available for dozens of short-term and long-term projects that coincide with our strategic vision,” Petersen said. “Moreover, the credit union will benefit from joining a professional group of progressive credit union executives dedicated to successfully addressing the common challenges faced by all of us,” he said.
Working together, MDC and its owner credit unions envision and implement better ways to do business, enhancing members’ experience and increasing their engagement.
“Our collaborative model saves credit unions considerable time and money, compared with going it alone,” said Jeff Kline, MDC’s Chief Executive Officer. “It also makes for a richer environment to nurture creativity and think through how we do banking.”
Robert Lockett, WCU’s Chief Strategy Officer, agrees. “By applying the cooperative model to strategic planning, research and development, MDC creates a force multiplier that will better enable Workers to address our strategic, channel delivery and product development goals,” he said.
MDC’s owners generate and prioritize projects, using a structured project-management approach, with 5-8 initiatives active at any given time.
About MEMBERS Development Company
MEMBERS Development Company is an interactive network of industry leaders serving as a catalyst for success in the credit union industry by identifying and connecting disruptors in financial services. MDC’s owners pool resources to enable relevant research, develop innovative products and services, create valuable vendor relationships, share knowledge, provide economies of scale and keep a consistent focus on the horizon. Combined,
our owners serve 14.5 million members, hold nearly $206 billion in assets, maintain over 1,800 branch locations across the nation and employ more than 37,000 employees. More information is available at