crash the acuc
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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
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