The CU system has been a leader in providing first-to-market products and services. It can be more nimble than the big banks. However, its diversity can also pose a challenge when decision-making and governance involves such a large cast.
Some years back, the CEOs and Board Chairs of the largest fourteen Canadian CU with CUCC and Credit Union Atlantic (its membership represents approximately 57% of the $146B asset base, serving 53% of the 5.25M members) began meeting at what came to be called the Large Credit Union Conference (LCUC).
In 2010, they decided to assemble a group comprising the CIOs. Since then, this CIO team has been meeting monthly. Naturally, we can't do this all ourselves; we need all hands on deck, so we work closely with partners such as the Credit Union Central of Canada and the provincial Centrals (Central 1, CUPS, CUCM).
To use our collective knowledge and national presence to provide technology leadership and innovation to enrich the financial lives of our members, and strengthen the competitiveness of Canadian credit unions.
Because a key part of our mission is strengthening the credit union system, we take an R&D approach to explore opportunities and move on them, tapping into a pool funded by the participating LCUC members.
On Feb. 11th, 2015, a representative group of our CIOs presented a first CU System-wide webinar on LCUC activities, highlighting the background, purpose, projects, explorations, and desire to tap into innovative ideas from everyone. Response was very positive and future webinars are planned.
If you’d like to view the webinar, check it out. http://www.cucentral.ca/SitePages/Webinars.aspx.
We will be presenting at conferences in 2015. If you have one that you think would benefit by a speaker on the LCUC, let us know.