Crash

the

ACUC

June 2012

Unitus Community Credit Union

Crashers

15 Credit Union professionals, aged 30ish and

under from across the USA (and Canada)

Attend the ACUC (America’s Credit Union

Conference)

Plan a project from conception to paper prototype

After the conference, make the prototype a reality

The Under Banked/Unbanked

Interviewed 6 under banked/unbanked people

(gen-y to retirees off the street who responded to

Craig’s List add)

Common themes:

Trust (Bad banking experiences or distrust of system)

Wanting Education (Not knowing what to do next)

Transparency (Convoluted explanations from

banks/CUs)

Wanting to Redeem (Past mistake or life circumstance

holding them back)

What Should this Program Do?

For: People who don’t/can’t operate within the

normal CU/Banking System. People with a strong

support group at home.

Benefit to Person: Emergency relief, savings

accumulation, financial education, a side door into

the CU system

Our Goals: Regain public’s lost trust

Help people in a way we couldn’t before

Create something that can be tailored to different Credit Union’s needs

Create a member who will be profitable in the future

TRU Circle

TRUst + TRUth = TRU Circle

Group of 5 extremely close [IMPORTANT] people

Each person puts $X.XX into the pot every month, also

creating savings

If someone has an emergency need, the circle votes to loan

the money out

Facilitated by a CU representative, who provides financial

education to the group during their meetings

Similar to a Financial Alcoholics Anonymous

Graduation stages for circlers (like 12 steps)

Personal accountability

They Tried that Already, and it Failed

Why TRU Circles are Different:

Trust Contract – “Fluffy” (but crucial) piece of paper

explaining the TRU Circle in easy to understand terms, and

creating accountability

Example points

“I will attend all meetings”

“I understand that my actions here are affecting my family and friends”

“[The Credit Union] is here to give you guidance, and gives control of the money

to the Circle”

Credit Union and Circlers sign together

Vetted Circle Members – we really are looking for those

wanting to redeem, or those whose main issue is distrust of

the system

They Tried that Already, and it Failed

Why TRU Circles are Different:

Dedicated Guidance – from a passionate CU

facilitator

Accountability – to family members, friends

“Financial Alcoholics Anonymous” model –

based on personal accountability, accountability to

others, and recovery

Next Steps

Confirm compliance

Clearly show CUs how this program will translate

into new, profitable members

Make it easy to understand, clear, and as not

scary as possible to potential circlers

Find a hosting CU/passionate facilitator

Handpick an ideal flagship group (start very small)

My Key Learning Points

Design Thinking Strategies

Ethnocentrism

Judging another’s culture solely by the values and standards of

one’s own culture, especially with the concern of language,

behavior, customs, and religion

Learn from different perspectives, experiences, behavior, and

values

Research Steps

Research Types

Need Statements

Opportunity Statements

My Key Learning Points

Preparing to Present Your Case

Culture lenses to look through

Structure

Politics

Humanity

Symbolism

Ask the 5 Why’s

Remember your Prejudices

Know your Constraints

Assumptions are Deadly

Need to Remain Financially Stable

Limitations are usually self imposed

My Key Learning Points

Break Your Idea with “Death Threats”

Problem

Customer

Benefit Promise

Feasibility

Development

Legal & Regulatory

Investment

Price, Profit, & Sales

Proprietary

Passion

My Key Learning Points

Gaining Alignment with Innovation (GUBA)

Assumptions – What are your thoughts about the

situation that is driving you to take this action?

Goals – If asked in two years “Has this initiative been

valuable?” for you to say “Yes” what would you need to

point to it in order to illustrate that?

Barriers – What could prevent you from achieving the

intended outcomes described above?

Unintended Consequences – What could be some of

the possible side-effects of your actions?

My Key Learning Points

Collaboration is Powerful