MANCHESTER, N.H–– Fiserv has announced two major pledges, the first to Sponsor the next Filene Center of Excellence, the second to America’s Credit Union Museum. Two credit unions have also announced support of the Filene Center.
Fiserv and the Filene Research Institute announced the company will be the lead sponsor of Filene’s Center of Excellence for Performance and Operational Excellence, with additional support from Alliant Credit Union and Christian Financial Credit Union. The research center, headed by Filene Fellow Hayagreeva “Huggy” Rao, Atholl McBean Professor of Organizational Behavior and Human Resources at Stanford University, explores progressive management practices and operational behavior, according to Filene.
It is one of five Centers of Excellence being launched throughout 2017. CUNA Mutual had earlier announced it will sponsor the Center for Consumer Decision Making; PSCU said it will sponsor the Center of Excellence for Organizational Entrepreneurship, and CO-OP Financial Services is sponsoring the Center of Excellence in Technology.
“Fiserv decided to support this effort because performance and operational excellence are key factors in the future success of all credit unions,” said Barbra Lowman, SVP Account Processing Solutions of Fiserv. “The research and engagement opportunities that come out of this research center will help build the credit union movement of tomorrow.”
According to Filene, the Center of Excellence for Performance and Operational Excellence will work on scaling the credit union model so that more consumers can benefit from the cooperative finance model. Some planned research activities include:
* Ambidexterity: Running current operations while innovating for advantage.
* Service Delivery Excellence: Identifying and addressing challenges of creating customer-focused cultures.
* Knowledge Sharing: Outlining mechanisms to foster the flow of ideas among credit unions to ensure that mistakes are not repeated, and innovations are shared.
The research center’s first report is expected to be completed later this year. Credit union leaders are invited to attend a research colloquium hosted by Professor Rao in Palo Alto, where he and other distinguished guests will discuss the research findings. Registration information can be found at filene.org
All three sponsoring organizations are long-term supporters of the Filene Research Institute.
“I am particularly excited about the launch of this research center as it focuses on the sustainability of credit unions,” said Mark Meyer, CEO of Filene. “Our generous sponsors understand the need for our industry to improve efficiency while meeting changing consumer demands and we are thankful for their leadership and support.”
Fiserv and Filene did not announce the amount of the sponsorship, but when CUNA Mutual announced its sponsorship it said its contribution was $1 million.
Meanwhile, Manchester, N.H.-based America’s Credit Union Museum here has announced that Fiserv has pledged its support to America’s Credit Union Museum Legacy Campaign. The campaign’s goal is to raise $3.3 million to expand the Museum and renovate an adjacent building into a credit union industry research library. The pledge brings the Campaign’s total to more than $2.5 million and 75% of its fundraising objective.
The Fiserv pledge will fund the Fiserv Exhibit Hall, which will house both a permanent and rotating collection of credit union archives and displays, according to the Museum.
Fiserv said its pledge is aligned to its social responsibility and corporate citizenship program, Fiserv Gives Back, through which the company provides financial and in-kind contributions and volunteer support focused in the areas of financial literacy, health and wellness, environmental stewardship and education.
“In a world that is moving faster than ever before, the focus of credit unions on meeting the needs of their members has not wavered,” said Vinnie Brennan, president, Credit Union Solutions, Fiserv. “Credit unions have adapted their services to stay in step with the way people live and work today while remaining true to their mission, and as a result are more relevant now than ever. The ability of credit unions to continue meet the unique needs of their members is a foundation for a bright future, which Fiserv is proud to support.”
“I would like to thank Fiserv for their support in memorializing the impact that credit unions have on millions of Americans,” said Stephanie Smith, Executive Director of the Museum. “Fiserv recognizes the importance of preserving and communicating the unique values and principles of credit unions. Our industry’s distinctive history clearly communicates the credit union difference and forms the foundation of our commitment to our member-owners both today and in the future.”
America’s Credit Union Museum is located in Manchester, New Hampshire, in the building where the first credit union in the United States first began serving French Canadian textile mill workers in 1908. The Museum was established in 2002 and visually tells the stories of the individuals instrumental in establishing credit unions in the U.S., the subsequent growth of credit unions throughout the country.
Launched in 2014, the Legacy Campaign is a three-year capital campaign with a goal of raising $3.3 million to create a new industry research center, add additional exhibit space, and provide renovations to the existing Museum building. The physical and electronic industry research center will make credit union history more accessible, while the additional exhibit space and upgraded conference facilities will help credit union professionals, legislators, and citizens experience firsthand the unique role credit unions play in the marketplace.