Innovation

Innovation goes beyond having the latest technology, it's the degree to which an institution delivers a member experience that is creative, pioneering, and leading the market. Also, creating differentiation based on having unique solutions that benefit society and the environment.

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Why it matters

Innovation matters to credit unions because it has a demonstrated relationship to member loyalty, which translates into better financial performance resulting from higher member retention and share of wallet. Credit union members are generally more loyal than bank customers, but more innovative credit unions have higher member loyalty than credit unions that are perceived to be less innovative.

Creating an Innovation Strategy that Drives Differentiation and Member Loyalty: Results from the 2nd Annual Credit Union Innovation Success Study

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Research in this topic

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Report #653 | Sep 18, 2025 | Members
Payments Innovation

Global Payment Innovations: A Research Brief for U.S. Credit Unions
- Ann Wessling
*25-Minute Read: Co-designed with the World Council of Credit Unions (WOCCU), this brief aims to deliver an in-depth report that compares leading payment innovations worldwide, analyzes the technological and regulatory drivers behind these advancements, and derives actionable lessons for U.S. credit unions by examining models and regulatory environments from selected countries.
Report #650 | Aug 18, 2025 | Members
Payments Attracting and Engaging Younger Members Artificial Intelligence Innovation

SIMPLE Payments: Six Consumer Payment Trends Credit Unions Must Embrace
- Lamont Black
The future of payments is here, and credit unions must move fast to keep up. The SIMPLE Payments framework reveals six important trends reshaping how members pay and interact with money. This brief shows how credit unions can embed payments into daily life, deliver real-time experiences, and thrive in a digital-first world.
Report #649 | Aug 13, 2025
Innovation

Year Three FiLab Results: IDgo
- Megan Freshour
- Bella Scott
To kick off the third round of tests, FiLab partnered with IDgo as one of six solutions for the 2025 testing phase. IDgo is a digital identity authentication solution that helps financial institutions verify members quickly, securely and efficiently. Here we explore IDgo's potential to improve call center authentication by saving time, reducing fraud risk and creating a better experience for both members and staff compared to existing methods.
Report #647 | Jun 27, 2025
Innovation Strategy and Planning Attracting and Engaging Younger Members

FiLab: Credit Union Landscape Report
Disruption has shifted from a trend to reality—our new norm! As growth continues to slow and consumer expectations accelerate, CUs are being pushed to rethink how they operate, innovate and deliver distinct value. FiLab's new CU Landscape report offers a powerful snapshot of today's most pressing challenges—and the clearest opportunities to move forward. This overview is the first in a series to help CUs make sense of the disruption, prioritize what matters and discover pathways forward.

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Blog | Oct 17, 2025
Attracting and Engaging Younger Members Artificial Intelligence Innovation Financial Well-being

Webinar: FiLab 2026 Tests Revealed
- McKaye Black
Preview webinar materials from "FiLab 2026 Tests Revealed," hosted October 15th, 2025.
Blog | Oct 17, 2025
Attracting and Engaging Younger Members Artificial Intelligence Strategy and Planning Innovation Financial Well-being

big.bright.minds. 2025: Transformative Sessions Await
Explore what to expect at Filene's biggest annual member event, big.bright.minds. 2025, happening from December 2–4 in Nashville, TN. Discover key presentations from our Filene Fellows that will equip your credit union to thrive in an evolving financial landscape.
Blog | Oct 16, 2025
Artificial Intelligence Innovation Financial Well-being

Seven Bold New Tests to Shape the Future of Credit Unions
Credit unions set 2026 testing agenda for FiLab.
Blog | Oct 10, 2025
Artificial Intelligence Innovation Financial Well-being

Webinar: The Future of Fraud Prevention—Credit Union Strategies That Work
- Megan Freshour
Review webinar materials from "The Future of Fraud Prevention: Credit Union Strategies That Work," hosted October 9th, 2025.

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Innovation

Why it matters

Research in this topic

Global Payment Innovations: A Research Brief for U.S. Credit Unions

SIMPLE Payments: Six Consumer Payment Trends Credit Unions Must Embrace

Year Three FiLab Results: IDgo

FiLab: Credit Union Landscape Report

More opportunities

Webinar: FiLab 2026 Tests Revealed

big.bright.minds. 2025: Transformative Sessions Await

Seven Bold New Tests to Shape the Future of Credit Unions

Webinar: The Future of Fraud Prevention—Credit Union Strategies That Work

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