December 15, 2018 About | Contact | CUNA News [ Log in ]

Article Tools

CUNA Research Reports

CU Snapshot

 September '18August '18
# of CUs5,6535,686
Members
(millions)
117.6117.6
Total Assets
($ billions)
$1,460.7$1,466.2
Total Savings
($ billions)
$1,231.6$1,236.7
Net Cap.
Assets
10.8%10.7%
Loans to Savings85.5%84.5%
Loan Delinq.0.7%0.7%

         Credit Union Indicators

Innovative ideas

Cultures that embrace and grow from failure are more innovative, says Filene's Andrew Downin.

If you want to be innovative, create a culture that doesn't seek failure but recognizes it and appreciates it and learns from it, says Andrew Downin, managing director of research at the Filene Research Institute.

"When you've got that psychological safety zone almost, people are willing to share more creative ideas. They're willing to kind of let their guard down in a way," he tells the CUNA News Podcast.

Prior to his current role with the credit union think tank, Downin oversaw the group's i3 program, which works with credit union leaders to tackle some of the industry's most flummoxing problems in innovative ways.

"There's nothing worse than talking with an employee at a credit union... and you hear from them, ‘Oh yeah, I had this idea a couple years ago, but I never thought my manager would care.' "

Downin is one of the authors of this year's CUNA Environmental Scan Report, a strategic planning resource for credit union leaders.

In the podcast, Downin discusses innovation and trends credit unions should pay attention to in the coming years.