Jeremy Hayes, of Assemblies of God Credit Union (Springfield, Mo.), and 14 other credit union executives recently joined Filene Research Institute’s i3 innovation program. The program fosters the development of new ideas and innovations for credit unions. Each new i3 member serves a two-year term that kicks off at Filene’s big.bright.minds event this October at Princeton University.
Hayes is the senior vice president of Assemblies of God Credit Union.
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 countless millions of dollars for credit unions and drive new members to the credit union system. Blockbuster ideas tested through Filene’s innovation lab include Prize-linked Savings, Debt in Focus/SavvyMoney, SaveUp, Savings Revolution and minTuition.
“If innovation were simply about ideas, our job would be a lot easier,” says Matt Davis, Innovation Director at Filene. “Making ideas happen requires a rare skill set. We look for credit union professionals who are passionate about fixing problems for consumers, have a track record of breathing life into new ideas, can excite others about their ideas and have the best chance of leading credit unions for the next generation.”
More than 20 former i3 members went on to be CEO of a credit union or system organization. The program, supported by PSCU, develops an innovation competency for this next generation of credit union CEOs using the Filene Method, an innovation curriculum developed from a decade of experience in creating, testing and implementing ideas for credit unions and their members.
Historically, Filene accepts less than 20 percent of the applicants into the program. i3 members commit to ideating, testing and reporting on four innovation ideas, piloting two ideas in their credit unions, attending two national meetings per year, and participating in regular group work.
“This class has the potential to be one of our best, and most diverse, classes ever, with CFOs, marketers, and operations and compliance professionals from Alaska, Florida, British Columbia, and everywhere in-between,” said Davis. “This assortment is both intentional and exciting – innovation works best when divergent backgrounds, values and viewpoints come together.”
For more information on Filene’s i3 innovation program, watch this video.