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i3 Concepts

Our i³ (Ideas, Innovation, Implementation) counts more than 150 concepts since the programs inception in 2004. These product, service, and business model innovations help credit unions build operational efficiency, generate loans, mobilize savings, reach communities, and strengthen membership. Browse through them below.

All i3 Ideas

Interest Refund Loan

Conventional wisdom suggest that baby boomers are moving from the borrowing stage to the saving stage of their lives. While this has traditionally been true of consumer behavior, this generation may very well be a contradiction. According to a recent survey conducted by the Pew Research Center, “55% of baby...

Auto Resource Center, An Online Resource for Vehicle Owners

In 2006, U.S. consumers purchased approximately 16.5 million autos and light trucks. Yet, despite the massive size of this market and the sheer volume of transactions, consumers are relatively dissatisfied with the way they make auto purchases. Credit unions are known for their trustworthiness and service and because of this,...

First Step Program

The First Step Program targets people who are underserved by traditional financial institutions (and often gravitate toward check cashers and payday lenders) and assists them in reaching their dreams of getting “one step closer towards financial freedom.” The key to this program is for credit unions to partner with local...

Community Impact Center

The Community Impact Center is a shared resource business model to help credit unions partner with public and private enterprises to engage in community development projects in the spirit of “people helping people.” The idea is to provide a centralized resource to help credit unions intelligently approach CED so they...

Sandwich Generation Recipe

The Sandwich Generation Recipe focuses on providing online educational resources for the Sandwich Generation – those who are caring for aging parents while also supporting children or grandchildren. The “recipe” will provide an online single point of contact or entry to assist members with financial options to assist them with...

Hello

Hello is a new way of giving. It’s a place to connect, give meaningful gifts and grow dreams. Borrowing from the MatriMoney bridal registry concept, Hello is a baby registry account that starts to accumulate savings for a child even before the child is born. Friends, family, and co-workers who...

CUPay

The concept of cash substitutes is certainly not new, but the pace of development and acceptance of new payment systems has increased exponentially. As the willingness to trust different stores of value has increased, so has the ire of retailers who believe they are paying too much in interchange fess...

The First Credit Card

Young adults, responsible or not, are very likely to get at least one credit card during the transition period after high school. Credit unions that decline to offer or to market their own cards to young adults may miss the chance to build a relationship and a responsible credit user...

Credit Unions and Social Media,

Connecting people online has become big business. Companies, including some credit unions, have captured the popular imagination by allowing users to write their own opinions, film their own antics, or leave very public comments on the Internet. This new trend, called “social media,” has become a powerful marketing tool. Used...

Prize-Linked Savings

Prize-Linked Savings According to Peter Tufano of Harvard Business School, the average household spends $514 a year on lotteries. Imagine a scenario where credit union members deposit their $514, making them eligible for interest and prizes, preserving their initial investment, and developing life-long savings habits. Prize-linked savings (PLS) is the...