July 17, 2009

TORONTO - The Canadian credit union system is increasing its investment in innovation and research. 

Credit Union Central of Canada, the national voice and trade association for Canada's credit unions, has increased its membership level with the Filene Research Institute, a consumer finance think tank for the North American credit union system. 

In addition, executives from five Canadian credit unions have been selected for Filene's i³ (Ideas, Innovation, Implementation) program.

 "The need for innovation has never been more urgent and our closer affiliation with the Filene Research Institute will benefit all Canadian credit unions," says Cheryl Byrne, Canadian Central's Vice President of Knowledge Services.

 In addition to direct access to seven research reports each year, Canadian Central's membership also provides immediate access for all credit unions to Filene's CU Tomorrow Project, a 13-report series completed over two years that documents the emerging needs of young adult credit union members, professionals, and volunteers.

 "Credit unions across North America share remarkably similar challenges," says Mark Meyer, CEO of the Filene Research Institute, based in Madison, WI. "We appreciate Credit Union Central of Canada's confidence in the Filene Research Institute and we're excited to offer Filene's latest research and innovation expertise to more credit unions than ever before."

Credit Union Central of Canada will immediately begin work with Filene's i³ group and work closely with the Institute to identify important research topics for Canadian credit unions.

 The new i³ members from Canada are:

• Corey Bowes, Chief Operating Officer, OMISTA Credit Union,  Moncton, NB
• Dawn Collins, Project Manager, Mount Lehman Credit Union, Abbotsford, BC
• Louise Delaney, Manager, Marketing, Salmon Arm Savings and Credit Union,  Salmon Arm, BC
• Josette Gauthier, Senior Vice-President, Human Resources, Alterna Savings, Toronto
•  Domenic Vinci, Senior Vice President & Chief Operations Officer, Interior Savings Credit Union,  Kelowna, BC

They will join current i³ member Eric Dillon, Chief Operating Officer, Servus Credit Union, Edmonton. Each member will serve a two-year term and participate in semi-annual meetings. The next meeting will be held September 29 -- October 2, 2009 in Montreal.

 Currently i³ members are working on topics such as sustainability and income generation. i3's most recent blockbuster is an anonymous debt management tool for members. Credit unions can test drive the tool at DebtinFocus.org and tap into the service by emailing innovation@filene.org.

Credit Union Central of Canada is the national trade association and finance facility for 434 credit unions that serve more than five million members, control $114 billion in assets and employ more than 24,000 people.

The non-profit Filene Research Institute is a consumer finance think tank serving North American credit unions. Filene publishes objective research and fosters consumer-focused financial innovation. The Institute collaborates with leading researchers and academic institutions worldwide. Download a free sample report at www.filene.org/free/guestpass.