At a recent MDC board meeting, a futurist guided the board and management through insightful discussions around trends impacting the future of credit unions. We talked about demographics, data-driven innovation, cognitive learning, and blockchain. The discussion was enthusiastic and eye-opening. As a result, MDC plans to do deeper scenario planning, create signal teams to identify early indicators of change, and dedicate more of our project budget to future-focused projects.
But we aren’t doing this alone. The MDC team recently met with our friends at CUNA Mutual Group in Madison to talk about the big ideas they are working on, and how we can work together on those efforts. We were impressed by their exciting initiatives and look forward to continuing an open line of communication. After all, collaborating is at the heart of the credit union movement!
While we were in beautiful Madison (GO BADGERS!…that’s from Sarah—not supported by the rest of MDC) we also met with the brilliant people at Filene to have a similar conversation. The complex issues of the future affect us all—and there is a lot of power in working together to solve big problems instead of everyone tackling them individually. We had great discussions around one topic in particular, innovation—a perpetually hot topic that is critical to credit unions. We are excited about all that we covered during our time in Madison.
In addition to our relationships with industry friends and partners, we are constantly building new connections with exciting companies and experts to share with our credit union owners. Come to our next owner meeting in August and you will hear insights on:
- Data analytics
- Artificial intelligence
- The changing approach to pre-paid
- Research about your small business members
- Collecting and leverage social media data
- Successfully partnering with fin-techs
Change can be something scary to run away from—or you can run toward the change with curiosity, optimism, and energy—at MDC, we choose the latter. Yo-Yo Ma said, “Every day I make an effort to move toward what I do not understand.” A defensive, wait-and-see attitude is the death sentence of an industry. At MDC, we believe the future is bright—we invite you to join us on the fantastic ride to what’s ahead!