Cooperative CUSO CU*Answers co-hosted Underground Collision on May 8 in New York City alongside staff at Mitchell, Stankovic and Associates, a global consulting firm that works with non-profits, credit unions, CUSOs, boards, and executives to build strategic partnerships. During this exclusive event, CU*Answers CEO Randy Karnes and other industry experts discussed challenging issues, pushing for real action to create radical change within the credit union industry.

Karnes spoke alongside Sarah Canepa Bang, EVP, CO-OP Financial Services, and Kathryn Davis, CEO, BALANCE, on “Innovation versus ‘Only if I Win’ Collaboration.” The topic covered challenges facing collaboration, suggesting that collaborating credit unions often care more about their own return than what’s good for the industry as a whole. Karnes disagreed with the notion that collaboration and self-interest are mutually exclusive saying: “Collaboration is a business, not a social mission. If we could teach and talk more about the business designs of cooperatives we might be better operators and collaborators.”

Other topics included “Big Getting Bigger, Small CUs Might Be the Giants,” “Celebration, Disruption or Extinction,” and a quick fire session covering member engagement, mergers, marijuana, and more.