DENVER.–How the Filene Research Institute is responding to the challenges either driving or hindering credit union growth is explored in the latest CU Daily Cast.
Hosted by Walt Laskos, the new Daily Cast episode features Mark Meyer, president and CEO of Filene, who offers insights into how the organization is working to live up to its mission of helping to improve consumer financial well-being.
Filene offers not just research, as its name makes clear, but also seeks to be an incubator for new ideas, offers advisory services and also seeks to identify emerging talent through its i3 program, as Meyer discusses during the broadcast.
Meyer shared some of the latest research Filene is undertaking on behalf of credit unions.
“We survey credit unions to ask what are most important strategic themes that impact them in foreseeable future,” Mayer explained, noting it defines that foreseeable future as the next three to five years.
Mayer also delves into Filene’s Centers of Excellence, paying particular attention to its Designing for Digital Center and its Next Generation of Member Growth Center.
“We’re examining this whole notion of the next generation of membership growth,” Meyer states. “We’ve got a problem. Credit unions aren’t growing. The average growth for the billion-dollar plus credit union for membership is right around 4%. You might say, ‘What’s wrong with 4%, Mark? And I say, ‘Well, that’s the average and who wants to be average?’ Second, we would not have the amount of disruption and fintechs coming in if they didn’t smell opportunity. So, there is a better way to meet a member needs around financial services and I think we’ve really got to get our arms around that that generational opportunity.”
The full interview can be found here.
