As part of their 2019 Business Plan initiatives, CU*Answers recently kicked off a year-long research project to work with credit union leaders, business developers, and tactical units to solve today’s challenges around how credit unions act as internet retailers to sell products and services to their members. The goal is to determine a vision for internet retailing, imagine new ways for credit unions to sell loans via internet channels, and figure out how to stock the shelves of a credit union internet store.

During the CEO Strategic Developers Boot Camp, held the week of November 5-9, 2018, credit union CEOs brainstormed on the future of internet banking from a big-picture, strategic point of view. Starting after the holidays, CU*Answers intends to communicate the results of the CEO Strategic Developers Boot Camp to all interested clients, to start coordinating a virtual community to participate in the research, and to hold a series of webinars to explain the project goals and to provide data to help with the specifications for the product or products the CUSO will be building in the future.

On April 23-24, 2019, the CUSO will be recruiting 25 credit unions who are willing to engage in a 1.5-day Boot Camp Task Force event to pursue the questions from a more tactical perspective. In addition to recruiting subject-matter experts, the CUSO is looking for credit unions who are willing to engage the CU*Answers Lender*VP and forms generation teams to actively enroll in using existing and new online apps and forms. Applicants will take an entrance test prior to admission to this exclusive event, after which CU*Answers will make a final go/no-go decision, complete the final design specifications and start engaging developers and implementors for pilot projects.