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CU System
Filene i3 Collects Nine New Ideas for CU Innovation
MADISON, Wis. (10/7/13)--A new report from the Filene Research Institute presents "Nine of the Latest Ideas from Filene I3."

Filene's i3 fosters the development of new ideas and innovations for credit unions. Ideas developed in the i3 program since its inception in 2003 have gone on to change state laws, improve the financial lives of millions of consumers, save millions of dollars for credit unions and drive new members to the credit union system, said Filene.

New ideas presented in the report include:
  • Homease. A web application designed to ease the anxiety of home financing, Homease tracks key milestones for homebuyers during the confusing mortgage process, similar to a popular pizza tracker, helping to reduce mortgage-related call volume from members;
  • CUnited. Essentially a "dating website" for credit union leaders looking to collaborate with peers throughout the country, CUnited matches users based on an algorithm that compares expertise, interest and willingness;
  • WheelChoice. A national network that helps credit unions sell repossessed cars directly to dealers, arranges a dealer consignment relationship, and develops a short-term car sharing program for members;
  • Living Your Legacy. A Web application that provides unbiased, confidential, lifecycle-based insurance information to credit union members, providing access to qualified, helpful professionals;
  • The Credit Union Well-Being Incentive Program. A mobile app that rewards credit union members who make socially responsible choices, helping to develop a membership base that's less risky, highly aligned with the credit union's mission, and more loyal--all key components in helping generate revenues;
  • Future Forward. A mobile app that helps credit union members determine the future value of their savings if applied to retirement or existing debt;
  • MyDime. A tablet app that helps members choose loan terms on their own and reach out to the key 18-34 demographic, the peak demand group in consumer lending;
  • Interplay. The app makes the workplace fun by using gaming components that give job-related rewards and teaches skills to engage credit union employees, a first step in retaining talented workers and preventing turnover; and
  • Mobile Payments. An update to last year's i3 idea Flash Note, Mobile Payments is an agnostic form of payment that uses existing point-of-sale infrared scanning technology to help credit unions jump from traditional payment types to digital.
To download the report, use the link.
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