Efficiency Collaboration Opportunities
The goal here is to leverage the power of credit unions as a whole. We will identify existing and new opportunities for credit unions to leverage their collective strength to cut costs and create competitive differentiation against other FI's and non-FI's (e.g., Wal-Mart). Some examples include accounting, call centers, collections, data processing, mortgage operations, and technology. For more information, please contact Jeff Kline.



Payment Systems
Technology is rapidly changing the payment systems credit unions use. It's also affecting the ways members do business with their credit unions. Members still step up to the teller counter, but self-service devices and new technologies are transforming the financial services industry like drive-throughs altered the fast-food industry. As a result, credit unions must evaluate their current payment systems, determine short- and long-term plans, and begin implementing these plans immediately. For more information, please contact Sarah Lietz.

Predictive Analytics
As competition continues to increase in the financial services sector, credit unions must become smarter about everything we do. Data becomes more important to every decision-whether it's loan origination, collections, marketing, new accounts, or closed accounts. If data from multiple credit unions can be securely combined and human analytical expertise provided, statistically valid answers to important questions will become available that none of our owners can get to individually. As a result, we can serve our members better and run our credit unions better "together." For more information, please contact Jeff Kline.



Retirement Income Solutions
An MDC owner is offering to credit unions a unique immediate income annuity program which offers annuities to consumers at ½ of the standard commission rates paid by the consumer-that means more dollars staying invested and more money returned to the consumer over the course of their lifetime. If we determine that this is a superior product for the members, we can create a solution to offer this to MDC owners. For more information, please contact Jeff Kline.



Rewards Programs
Taking a deep dive into the psychology around rewards programs, our goal is to find a program that is differentiating for credit unions, that covers multiple products, and that incents members to desired behaviors. For more information, please contact Sarah Lietz.



Vendor Management
MDC owners have expressed the need for a centralized vendor due diligence process in order to avoid redundancy in evaluating vendors, provide consistency in process, and provide examples of RFP's for other owners to use. For more information, please contact Karrie Julian.



Web Source
Credit unions simply do not have a credible presence at the point of how and when consumers are searching for a financial product. We used Google analytics to understand the volume of searches for various financial products and where credit unions were listed in search results. The best result we found was on a search for "savings account." The first credit union was found on the 20th search result page.

MDC owners participating in this project will capture new leads, spend less money collaboratively than individually, and improve the visibility of credit unions as a whole. For more information, please contact Sarah Lietz.