RANCHO CUCAMONGA, Calif. (6/30/10)--CO-OP Financial Services is calling for entries for the CO-OP THINK PRIZE, which is giving a $10,000 grand prize award for the best idea on how to grow the credit union movement. The new, annual contest is designed to inspire and reward innovative, shareable ideas. The competition will proceed in three rounds, with Oct. 15 as the deadline for round one. Entrants will complete a simple questionnaire that serves as a program proposal establishing the idea and its merits to the industry. With replies of between 25 and 100 words per question, the round one questionnaire asks participants to:
* Describe the idea; * Tell how it benefits credit unions; * List the benefits to credit union members; * Expand on how it exemplifies credit union values; * Detail how the idea will propel the credit union movement forward; and * Explain how it can be shared with other credit unions.
Round one entries judged to be among the best will be invited to participate in a second round. They will be asked to develop a business plan for the idea. The second round deadline is Dec. 31. In the third round, three finalists will present their ideas at the THINK 2011 Conference in May 2011 in Anaheim, Calif. The winner will be determined by conference attendees, online viewers and a panel of experts from the Filene Research Institute and CO-OP. “The THINK Conference was created to excite, energize and inspire new ways of thinking, and the CO-OP THINK PRIZE aims to encourage innovative thinkers in the industry to share their ideas for changing the credit union movement for the better,” said Stan Hollen, president/CEO of CO-OP Financial Services. “Our judges will be looking for ideas that help credit unions be nimble, progressive, innovative and smart, while upholding their fiscally conservative values and personal member service experience.” In addition to the $10,000 in seed money, the winning entrant will also receive pledges of financial support and business services from THINK 2011 sponsors and the Filene Research Institute. Credit unions or individuals employed by them can participate. The three finalists will be notified around Jan. 31. For more information, use the link.