CLAREMONT, Calif.–Western CUNA Management School (WCMS) hosted its annual ‘WCMS Innovators Challenge.’
Launched in 2021, WCMS said the full-day event serves as a “capstone during the organization’s rigorous two-week leadership educational program each year, which has become an essential foundation of professional development for credit union executives and managers across the western United States.”
“Our Innovators Challenge is both a culmination, and starting point, of our intensive education and team-building collaborations,” Dr. Michael Steinberger, dean and chief academic officer for WCMS, said in a statement. “It’s where theory meets practice, where our credit union leaders, hailing from diverse occupations and positions across the west, step up to tackle real-world challenges head-on. This year, we pushed the boundaries even further by focusing students’ innovations on financial viability and the member experience.”
Three Class Cohorts
This year’s Innovators Challenge included three class cohorts of credit union leaders WCMIS said is “not just important — it’s essential. The bonds formed among students during the day’s challenge will fuel a multitude of crucial endeavors, enabling them to translate their education into tangible results for their credit unions, members, and the entire industry.”
According to WCMS, students attended class in the morning and spent the afternoon in groups developing their solution to the year’s challenge problem.
Round one was the Meet Your Coach and pitch presentation round; Round two was the Coach’s Knockout Round, and round three was the Innovation Final Round, known as the “Frog Tank.”
The Final Round
“In the final Frog Tank Round, the top groups presented to the entire three-year WCMS student body (401 individuals) and the eight innovation coaches,” WCMS said. “Everyone voted again — and eventually, the winner was crowned.”
Innovation coaches were senior leaders from the California and Nevada Credit Union Leagues, Filene Research Institute, Origence, and TruStage, with the coaches spending time with each group, providing mentorship and feedback aimed to hone the group’s idea, pitch and delivery, helping prepare students for pitching new ideas back home at their own credit unions, WCMS said.
What Took Place During day
According to WCMS, the full day’s experience included:
- A lecture by Filene Research Institute/WCMS faculty members
- Networking and ideation lunch with year-one, two, and three classmates
- Class team-time for Innovation Challenge collaboration
- Dinner with year-one, two, and three classmates (networking and brainstorming).
‘More Than a Competition’
“The WCMS Innovators Challenge is more than just a competition,” Steinberger said in a statement. “It’s a microcosm of the actual here-and-now challenges that credit union leaders face daily. By encouraging students to think critically, collaborate effectively, and embrace calculated risks, WCMS continues to reinforce the life-changing principles upon which our school was founded. Win or lose, if every student feels more comfortable and is expected to innovate upon returning to their organization, then we all win.”