Tools and Ideas to Connect Credit Union Members to the Green

Innovation Brief
green
Tools and Ideas to Connect Credit Union
Members to the Green Movement
By Denise R. Gabel
Chief Innovation Officer
Filene Research Institute
Foreword by Coro Strandberg
Principal
Strandberg Consulting
Green Tools and ideas
About Us
The Filene Research Institute provides credit unions
with research, future-focused thinking, and practical
innovations to enable them to prosper today while
preparing for tomorrow’s opportunities.
The name of the Institute honors Edward A. Filene, founder of the
Filene’s Department Store chain, who has long been considered the
father of the United States credit union movement.
Since Filene’s inception in 1989, this 501(c)(3) not-for-profit
institute has collaborated with over 100 academic institutions
and credit union system partners to publish hundreds of research
studies. The entire research and innovation library is available
online at www.filene.org.
Progress is the
constant replacing
of the best there is
with something
still better!
– Edward A. Filene
What is Filene i³?
Filene i³ (Ideas, Innovation, Implementation) is committed
to strengthening the credit union system through the
development of new products, services, and business
models. The work is accomplished by a team of insightful
and passionate executive-level volunteers who are
supported by their individual credit unions to drive
innovation that benefits the credit union system.
The objectives of Filene i³ include:
• Develop and implement innovative ideas.
• Identify and evaluate innovations in other organizations that could be adopted
by credit unions.
• Provide a forum for cooperation, collaboration, professional development,
and industry succession planning.
• Act as ambassadors for change and innovation.
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Green Tools and ideas
Foreword
by Coro Strandberg
Principal, Strandberg Consulting
Some say we are in “overshoot”: humanity’s ecological
footprint is exceeding the earth’s biological capacity
by about 20%, according to estimates.1 It is calculated
that if everyone consumed at the average rate of North
Americans, we would need 4.5 planets to sustain us.
The Millennium Ecosystem Assessment,2 prepared
by over 1,360 experts worldwide to analyze the
consequences of ecosystem change for human wellbeing, concluded that 60% of the earth’s ecosystems
are in decline. Collectively we have to ask ourselves,
how can we live within our means?
This fundamental question makes Filene’s green consumer innovation brief very
timely. Their insights and calls to action should be required reading of credit
unions across the land. Credit unions tend to attract consumers who think local,
are concerned about collective solutions, and have broader interests beyond
their own. They are well placed to use their sphere of influence to engage staff
and consumers alike on simple steps to save money while saving the planet.
Filene’s paper capably demonstrates the linkages between the credit union and
environmental movements and the green consumer, to which I would like to add
one of my own.
It is notable that the “green movement” and the “credit union movement” were
rooted in turn-of-the-century American values. John Muir, American naturalist
and immortalized “Father of American National Parks,” popularized conservation
in the late 19th century, playing an instrumental role in President Teddy
Roosevelt legislation establishing America’s park system. The American credit
union movement, brought into being in the early 20th century by the pioneering
efforts of Edward Filene, Roy Bergengren and others, was born out of concern
for the plight of working people, subject to usury and the vagaries of the market.
So these twin concerns—for conservation and economic fairness—have been
operating on parallel tracks for over one hundred years. This paper challenges us
to think how we can merge these two interests into one common cause to advance
conservation in affordable and socially just ways.
Unquestionably we live in a consumer society. However, with increasing
awareness about the need to move to a smarter lifestyle, consumers confront a
number of barriers. Firstly, information is lacking about credible alternatives.
Secondly, people need reassurance that others are taking similar steps in order to
feel their efforts are worthwhile. Finally, there is a perception that green products
are inferior or more costly. Thus, greening efforts that provide information,
incentives, collective action, and local feedback can go a long way toward
mobilizing consumers to shift their spending towards more sustainable lifestyles.3
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Green Tools and ideas
The initiatives profiled in this brief model many of
these attributes. But they come with a caution. In order
for credit unions to credibly launch any of these green
consumer projects, they need to show they are walking
their talk. Measures to help consumers go green need to
be matched by credit union efforts to go green. Credit
unions that overlook this fundamental step run the
risk of alienating the very consumers they are trying to
attract, not to mention their employees who would be
the first to spot the values gap.
Coro Strandberg
But don’t despair. The benefits available to switchedon green consumers await credit unions as well. The
cost saving potential for those who reduce their waste
and energy, paper, and materials consumption can be
significant, not to mention the “feel good” factor that
comes with values alignment.
Coro provides training on corporate social
responsibility (CSR) to the Canadian credit union
system, and has helped over a dozen credit
unions develop CSR and sustainability strategies.
She is a global thought leader in the areas of
sustainable governance, sustainable purchasing,
sustainable human resource management,
and sustainable finance, insurance, and asset
management. Prior to her consultancy, Coro
was the Director of Social Policy for the BC
Government, and prior to that she was the Social
Planner for the City of Surrey, one of the fastestgrowing municipalities in Canada.
There is a further benefit to credit unions that find the
sweet spot of conservation and thrift for themselves and
their members: innovation. Much as Filene’s i3 process
fosters idea generation and leverages the opportunity
for creative destruction of outdated business models
and processes, so too can bringing a “sustainability lens”
to the organization increase profitability prospects. As
a September 2009 Harvard Business Review article
on “Why Sustainability is Now the Key Driver of
Innovation” demonstrates, “....sustainability is a mother
load of organizational and technological innovations
that yield both bottom line and top line returns.”4
Increasingly companies that commit to a strategic
sustainability approach are finding this a valuable
route to the uncovering of business benefits from
re-engineered products, technologies, processes, and
business models.
Coro Strandberg is the Principal of Strandberg
Consulting, which provides strategic, facilitation,
and coaching services to businesses seeking to
integrate social and environmental factors into
their governance, strategy, and operations. She is
a past Director and Chair of Vancity Credit Union,
the largest credit union in Canada and among the
largest in the world. There she was instrumental
in helping to position the credit union as a world
leader in corporate social responsibility.
Credit unions are a collective solution to savings, loans,
and transactions for communities and working people.
We need a collective solution to move from a four
planet rate of consumption to a one planet sustainable
economy. Credit unions, by mobilizing green consumers
while reducing their own consumption, are well-placed
to benefit their business and advance the planet towards
a more sustainable future.
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Green Tools and ideas
Executive Summary
by Denise R. Gabel
Chief Innovation Officer, Filene Research Institute
The financial services industry consumes massive
amounts of renewable resources such as timber,
metal, and plastics, and adds to the consumption
of a staggering amount of non-renewable resources
such as coal, petroleum, and natural gas. As more
evidence is made public of the harmful effects of this
consumption, the attitudes and expectations consumers
and regulators have toward corporate responsibility may
experience a seismic shift.
Consider the public perspective of cigarettes over the past few decades. It wasn’t until
research continued to validate the harmful effects of smoking on our health that
public opinion changed, igniting a wildfire of regulations, lawsuits, and outrage.
As more and more research on humankind’s effect on the environment continues
to shape public opinion, we may be at a similar watershed moment. As consumer
sentiments evolve, credit unions need to consider how they are positioned.
Deeply embedded in the core principles of the credit union movement are clues
to help us navigate this challenge. While personal and social responsibility have
been paramount in defining our industry, it is time to consider how we expand this
definition to explore larger global issues.
Indeed, a new generation of members has embraced a larger social conscience. Our
nation’s youth are leading recycling efforts, donating money, and making purchasing
decisions based on a new world view. In addition, these young consumers have grown
up immune to traditional advertising and have technology at their fingertips to spread
messages and causes that they believe in.
Discovering new approaches to tap into this mindset could manifest powerful
connections with future generations of members. Consider:
•
What role will credit unions play in helping consumers “go green”?
•
How will your credit union become a role model to embrace sustainability?
This brief focuses mostly on the issue of saving resources as a way to align the green
movement to inspire consumers and advance the credit union mission.
4
Green Tools and ideas
Consider these thought starters:
• How will your credit union engage green consumers?
• In what ways can credit union branches serve as focal
points for consumers’ own green initiatives?
• How can credit union employees become role
models in encouraging consumer attitudes and
behaviors that support sustainability?
• How can credit unions play an active leadership role
in sustainability for the local communities they serve?
• Is there a way to maintain the convenience of driveup banking yet eliminate its current carbon footprint
caused by idling cars?
Using these thought starters, Filene employed two
innovation processes to generate multiple idea concepts
for credit unions to consider. First, a Filene’s i3 team
delivers the concept of The Leap, a Web-based tool
that calculates and educates members on methods
of saving money by making smart, green choices,
thereby connecting thrift and sustainability. Another
team proposes a reward program for credit unions
that motivates members to make socially responsible
purchasing decisions with Green Feat Rewards. The
second innovation process tapped high-IQ individuals
through Mensa Process® to generate multiple ideas using
an online ideation method.
Denise R. Gabel
Denise R. Gabel is the Chief Innovation Officer at
the Filene Research Institute.
Denise joined the Institute in 2006 to continue
to build the innovation competency at Filene
and extend that capability to credit unions.
She is responsible for applying innovation
methodologies, overseeing innovation programs,
and developing processes to ensure an effective
pipeline of solutions to connect the past with the
future for credit unions and consumers.
Previously, Denise served as Vice President–
Strategic Direction for the Spokane Teachers
Credit Union, leading strategic planning,
innovation, and corporate governance. She is
a certified trainer for the Institute of Financial
Education and faculty member for CUNA’s
Management Schools.
Denise is a summa cum laude graduate of
Eastern Washington University. In 2008 she
graduated from Harvard Business School’s
Women’s Leadership Forum.
I would like to recognize and thank the
following individuals:
• Kelley Parks and Karen Hodgkiss for their
assistance in preparing this publication;
• Coro Strandberg for lending her expertise and
unique perspective;
• The i3 members who tirelessly volunteer their time,
including: C.J. Meyers, Teachers Federal Credit
Union, Farmingville, NY; Caroline Redmann,
Heritage Credit Union, Madison, WI; Kelley Parks,
Call Federal Credit Union, Richmond, VA; Tammy
Gallegos, America First Federal Credit Union,
Ogden, UT; Dave Brooke, Point Loma Credit
Union, San Diego, CA; Kim Vu, Technology
Credit Union, San Jose, CA; Mike Fletcher,
Giftango (formerly with Point West Credit Union),
Portland, OR; Rob Folsom, USA Federal Credit
Union, San Diego, CA; and Trish Shermot, CTCE
Federal Credit Union, Reading, PA.
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Green Tools and ideas
“We do not inherit the earth from our
ancestors, we borrow it from our children.”
—Native American Proverb
What is Sustainability?
Simply stated, sustainability is meeting the needs of the present without
compromising the ability of future generations to meet their own needs.5
Unfortunately, the way many people live their lives today—consuming
goods, using energy, and choosing transportation methods, for
example—contributes to the increasing inability of the earth to sustain
the demand for its resources.
For many businesses, emphasizing the future rather than the present
requires a shift in mindset and operating practices to consider
sustainability issues along with budget and financial resources. It is this
convergence of individuals taking responsibility for their choices and of
businesses reducing their negative environmental impact that will result
in significant social change.
Triple Bottom Line of
Sustainability
Coined by John Elkington in
1987, the triple bottom line
outlines a way for socially
responsible organizations to
measure ecological and social
performance in addition to
financial performance.
The theory is that a sustainable
society depends on a
commitment to the planet and
people, along with profit.
6
Green Tools and ideas
The Greening of America
As the sustainability imperative becomes woven into
our culture, consumers are re-examining their own
relationship with the Earth.
A February 2009 Cone Inc. study6 indicates:
• 35% of Americans have higher interest in the
environment today than they did one year prior.
• 35% of Americans have higher expectations for
companies to make and sell environmentally
responsible products and services during the
economic downturn.
Additionally, in an Edleman Good Purpose Study,
63% of U.S. consumers would recommend a brand
that supports a good cause, up from 47% in 2008.7
The study also found that despite the recession, 85%
of Americans are willing to change their behavior to
make the world a better place to live and redirect their
spending habits to reflect personal values.
The challenge: As Americans awake to these ideals,
how can credit unions position themselves as a resource
to reflect these values?
• 70% of Americans indicate that they pay
attention to what companies do with regard to the
environment today, even if consumers cannot buy
until the future.
Natural Allies
In addition to the conservation of resources and
personal responsibiliy, education and volunteerism
are pillars of both the green movement and the credit
union movement. Therefore, how credit unions reach
consumers and publicize their message could make
credit unions and environmentalism natural allies.
Education: Financial education is the hallmark of
community service for credit unions. According to
the National Youth Involvement Board, credit unions
reached over 300,000 students with financial education
classes in 2009.8 Environmentalism has similar
grassroots ties to education. According to the U.S.
Partnership for Sustainable Development, 17 national
associations and 20 national disciplinary associations
are creating initiatives on Education for Sustainable
Development.9 This activism within schools is crucial
to help students develop knowledge, values, and skills
to participate in decisions to improve the quality of life
now without damaging the planet in the future.
The Challenge: How can these two initiatives­—the
green movement and the credit union movement—be
linked to achieve synergy from their collective efforts?
Values
Credit Union
Movement
Green
Movement
Feels education of
youth is paramount
4
4
Infrastructure rooted in
volunteerism
4
4
Promotes saving
resources
4
4
Takes pride in social
responsibility
4
4
Volunteerism: Credit union governance is richly
rooted in volunteerism at the board level, as well as
by chapter-, state-, and national-level organizations
spearheaded by credit union employees. Similarily,
environmentalism is propelled by an army of volunteers
in all parts of the world.
7
Green Tools and ideas
Connecting with Gen Y
Millennials, also known as Generation Y, were reared on
concern for social and environmental issues that underlie
the sustainability concept. Since the message is ingrained
in this generation’s lives, they will likely spread the
message of sustainability with their choices, habits, and
dollars as they enter adulthood and the workplace.
A survey conducted by Cone Inc. shed some light
on Gen Y’s views on sustainability.10 Cone’s 2006
Millennial Cause Study conducted in collaboration
with AMP Insights found that:
• 61% of teens to young adults 13–25 years old feel
personally responsible for making a difference in
the world.
Members of Gen Y were
born roughly between 1980
and 1995, and number
approximately 60 million.
Gen Y’s spending power is
$172 billion as an entire group,
with about $61 billion spent
by young adults.10
• 83% trust a company more if it is socially and
environmentally responsible.
• 69% consider a company’s social and environmental
commitment when deciding where to shop.
• 74% are more likely to pay attention to a company’s
messages if the company has a deep commitment to
a cause.
Not only do Millennials do business with socially
responsible companies, they also want to work for
them. A recent survey by Experience Inc. of 2,774
college students and recent graduates found that 81%
say it is important to work for a green company,
meaning the company is green-friendly, green-conscious,
or green-certified.11 Similarly, 79% report that they
would be more likely to accept a job offer at a green
company over another company, when evaluating two
similar offers.
The Challenge: How can credit unions connect with
younger generations by employing sustainability as a
key business model and strategy?
The Innovation Challenge
Each sustainability idea in the following sections is a
response to the facts and data presented in the previous
sections and a general challenge: Build a game-changing
idea that engages green consumers and connects credit
unions to green initiatives.
Each idea is a starting point, and some may need a
regulatory review. But the challenge credit unions
should consider is taking the same thought starters
used by Filene’s i3 group and the Mensa International
members to address the sustainability challenge:
A Filene i3 innovation team (See Appendix 1) tackles the • In what ways can credit union branches serve as focal
points for consumers’ own green initiatives?
tie between thrift and sustainability with a Web-based
tool that calculates and educates members on ways to
• How can credit union employees become role models
save money through smart, green choices. Another
to encourage consumer
team proposes a reward
attitudes and behaviors that
program for credit
Each sustainability idea in the following
support sustainability?
unions to consider what
sections is a response to the facts and
motivates members
data presented in the previous
• How can credit unions play
to make socially
sections and a general challenge:
an active leadership role in
responsible purchase
sustainability for the local
decisions with Green
Build a game-changing idea
communities they serve?
Feat Rewards.
that engages green consumers
and that bridges the credit union
• Drive-up windows
Next are featured ideas
movement with the green movement.
encourage unnecessary
from a brainstorming
engine idling and wasted
collaboration between
fuel consumption. Is there a way to maintain the
Filene and Mensa Process (see Appendix 2), an
convenience of drive-up banking yet eliminate its
organization that taps into high-IQ Mensa members.
current carbon footprint?
8
Green Tools and ideas
Filene i3 Tool: The Leap
The Leap is a Web-based tool that transforms a
complex concept into simple, tangible steps. Credit
union members will learn how green they are, how
green they can be, and how they can save some of the
green in their wallets by making good choices and
taking advantage of
money-saving and
eco-friendly options
offered by a credit
union.
walks through various green/not green choices and
their financial impact, and summarizes those areas
where a member could be more green. Step by step,
it also calculates how much money could be saved by
implementing best practices. The output is a formal
summary that highlights ways to save green by going
green.
Member Education: Once completed, members
can find additional information about green
products their credit union offers. Icons will link to
services with green qualities, such as direct deposit,
e-statements, and bill pay.
The Assessment:
The calculator quiz
Get Started!
1.
See how much you can save by going green.
View the big picture and more ways to save.
Find out how credit union products help save
the environment.
Visit http://www.theleapforgreen.com
and try it yourself to assess how The
Leap will mesh with the credit union’s
green initiatives.
2.
Establish a link from your credit
union site.
3.
Contact [email protected] to
pursue options for modifications.
Help Members
Jump Into the
Green Revolution!
Credit unions have an opportunity to help members
take the leap into the green movement. The standalone Web site can link to a credit union’s existing
site, while the product page specifically highlights
electronic services that are available at most credit
unions to make it easy to implement. Credit unions
can also customize the
products and add other links.
The tool is available now
to credit unions. Contact
[email protected] to get
started.
9
Green Tools and ideas
Filene i3 Concept: Green Feat Rewards
Rewards programs have played an important role in
service delivery ever since their introduction in the late
1800s, when Thomas Sperry and Shelly Hutchinson
sold stamps to merchants. S&H Green Stamps (also
known as Green Shield Stamps) were earned by
consumers when making purchases at supermarkets,
department stores, gas stations, and other retailers.
Today, membership in U.S. loyalty rewards programs
has reached 1.3 billion, more than four times the
national population, according to COLLOQUY
research.12 Additionally, research conducted by
First Data, a credit card processor, indicates 76% of
consumers belong to credit card loyalty programs.13
An opportunity lies in taking the concept of reward
incentives and awarding members points for purchases
made at socially responsible vendors.
To further the cause, members
could also use these points to
support ecological groups, buy
green merchandise such as solar
panels or reduce their carbon
footprint by purchasing carbon
offsets. Identifying green vendors
and local partners in the program
remains a significant challenge.
10
The Green Feat Rewards program
is designed to reward members
with points for purchases made
at certified socially responsible
vendors. It encourages members
to become conscious consumers
by intentionally choosing to shop
at socially responsible retailers.
Members will be able to use these
points to support ecological
groups, buy green merchandise,
or reduce their carbon footprint
by purchasing carbon offsets.
However, efforts to certify businesses as green have
been growing in recent years. Businesses that follow
International Standards Organization rules or participate
in The Natural Step or similar programs should be
targeted.14, 15 Green Feat Rewards will draw urban
consumers who shop for organic food, locally produced
goods, goods produced from recycled material, and
those who use the Internet for social networking and
research. Strategies focus on green businesses in the
credit union’s region and on various online venues.
Green Tools and ideas
Mensa Process Concepts
Green Bonus Dividend
The Green Bus
The idea is to offer a year-end bonus dividend based
on how little paper was used in connection with a
member’s account. This could be related to paper
checks, deposit slips, paper forms, and statements. This
idea could be expanded credit union-wide to reward all
members for wise green choices and encompass how
many green services the members signed up for during
the year, such as e-statements, electronic bill pay, or
direct deposit.
Provide a green bus that runs on bio-diesel fuel or is
electric and wrap it in the credit union’s graphics. The
bus could pick up members and bring them to the
credit union for both everyday and more in-depth
transactions such as mortgage closings. Tips for going
green could be part of the bus graphics to educate the
community while in transit.
Repurpose
Branch Spaces
• When the credit union isn’t open,
allow local farmers to use the credit
union’s parking lot as a farmer’s
market.
• Foster a book or magazine
exchange in the lobby.
Bicycle-friendly Drive-Thru Lanes
Design drive-thru lanes specifically for bicycles. Offer
reward incentives or express services for those members
who use bicycles instead of motor vehicles. To further
reduce engine exhaust, post signage asking members to
turn off engines when idling in the drive-thru lanes or
design the drive-thru on a gradient so gravity can move
cars forward.
a sloped dri
ve-thru lane
!
• Create a community bulletin board
for ride sharing and carpool groups.
• Offer shredding services in the
lobby. Members can bring in old
statements and bills that can be
shredded and recycled.
The ROI of Sustainability
Aligning a credit union with the green movement is not only good for the environment, but there can
also be a healthy financial impact on the bottom line. Credit unions may experience:
•
•
•
•
•
•
Possible reduction in operating costs from eco-friendly solutions.
Stronger brand recognition and awareness.
Increased member loyalty.
Media attention.
Growth in market share.
Employee retention and attraction.
11
Green Tools and ideas
Recycled Paper Receipts
Green Employee Incentives
Implement a policy to only use recycled paper. This
could include all forms, brochures, envelopes, checks,
and receipts. This is a very strong “practice what you
preach” statement.
Offer incentives for employees who carpool to work.
Give them a set amount of paid leave to volunteer for
green causes. Have a contest and recognize employees
for their green initiatives both at work and home.
Name a green employee of the month and put their
photo and story in the newsletter. Have outside
speakers come in to hold “lunch and learn”-style
seminars to teach employees more about going green.
Bike to Work Day
Sponsor a bike to work day for your community.
Have employees set up breakfast stations along the
main routes into town for anyone on a bike. Provide
community bicycles. Make it a PR event and get the
media and other organizations involved.
The Carbon
Neutral ATM
Use solar panels or wind to power
ATMs in the community or have
them power off when they are not
in use. Wrap these eco-friendly
ATMs in green graphics so they are
differentiated in the community.
Use the screens to share tips for
going green.
Extreme Green Makeover
Use a foreclosed home or partner with a builder to use a distressed home to perform an extreme
makeover to do green renovations. Hold hands-on workshops in the home to show members how
to make their home greener. Partner with local schools to tour the home and talk about ways to go
green. Talk to businesses who may be willing to do the work for free in exchange for advertising
through these efforts. The credit union could then sell the property or allow a charity to use the space.
A variation on this idea would be to partner with a green architectural firm to develop plans for a
number of state-of-the-art green houses. Make the plans available to members looking to build or
finance a neighborhood of entirely green homes.
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Green Tools and ideas
Direct Deposit Recycling
Partner with recycling centers to make direct electronic payments
to credit union members’ accounts. Hold recycling contests and
recognize recycling leaders in the newsletter. Have a recycling center
at the credit union to keep it top of mind with members.
Set up an area for consumers to drop off used plastic bags and
recycle them. Hand out reusable totes with the credit union’s logo.
Impact on Credit Unions
Member Benefits
Credit Union Benefits
Members who are able to take advantage of The Leap,
Green Feat Rewards, or other green options from their
credit union benefit in both tangible and intangible
ways. These include:
There are myriad ways a credit union can grow
greener as an organization, in addition to offering
green services and tools. Building a community and
connection with members beyond their financial
services needs can develop relationships that fuel future
growth. Integrating the credit union into lifestyle
choices—biking to work, recycling, going paperless—
may increase member loyalty. Credit unions should
seek out opportunities to partner with green-leaning
organizations, which would have an added benefit of
access to potential members (and the desirable Gen Y
market). More than just talking about options, a credit
union that puts into place practices, such as a green
bonus dividend or carbon neutral ATMs, is making a
statement as a community leader.
• Access to tools that make it easy to adopt an
environmentally friendly lifestyle with support from
the credit union.
• Potential for saving time, saving money, and earning
rewards.
• Feelings of well-being for making a positive
contribution to the community in a way that aligns
with personal values.
Conclusion
Credit unions were founded to promote thrift and
help people of modest means make the best use of
their resources. Linking memberships to the green
movement is a natural extension of this mission.
There is every indication that sustainability is not a
trend, but a critical societal issue that will impact us and
future generations.
This presents a powerful opportunity for credit unions
to examine how they contribute to the communities
they serve beyond products, services, and member
dividends.
This publication contains numerous ideas and resources
to help you navigate the subject of “going green”
within your credit union. As you review this critical
issue, please assess the strategic implications for
your organization, implement consumer-driven
solutions, and punctuate your efforts by engaging
with Filene and sharing your key findings.
Get started by visiting http://filene.org/home/
innovation/i3ideas for exclusive Filene-member
access to full concept documents on The Leap,
Green Feat Rewards, and more.
Coming Soon
In spring 2010, Filene will release
a new report from researcher
Coro Strandberg entitled Credit
Union Sustainability: A Strategic
Roadmap. Rather than a typical
what or why report, dozens of
compelling examples and case
studies will provide a valuable howto plan for credit unions interested in
undertaking sustainability initiatives.
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Green Tools and ideas
Appendix 1 – Filene i3 Innovation Process
Filene i3 is a creative group of insightful and energetic credit union professionals who
develop new ideas, innovate, and implement for the benefit of the credit union system.
Please visit filene.org/home/innovation or e-mail [email protected] to learn more.
Phase 1: Teaming Up
Four to six Filene i3 team members are placed in a group and given six months to develop an innovative consumer
finance concept. The group members select a team leader, assign research and ideation tasks, and commit to
regular contact.
Phase 2: Brainstorming
Each group identifies a consumer pain point to address and brainstorms ways a credit union might help. Once
the group identifies a feasible match between problem and solution, i3 team members investigate the market and
identify potential partners, needed resources, and ways to introduce the proposed product or service. The ideas
must be genuinely new and not simply repackaged existing products.
Phase 3: Piloting the Project
With a cohesive proposal in hand, the i3 group introduces a beta version of the idea, often through one of their
own credit unions. Results from the pilot indicate whether the idea has broad potential and also reveal any needed
improvements.
Phase 4: Making Improvements
Projects that show promise in their pilot phase go into Filene’s Idea Lab, where the Institute recruits a broader pool
of credit unions to further shape and test the idea and report on its success.
14
Green Tools and ideas
Appendix 2 – Mensa
Process Ideation
Mensa Process blends high IQ with creativity to help organizations
solve problems, develop new products, and extend brands.
Phase 1: Defining the Challenges
Mensa Process collaborated with Filene to write the challenges and thought starters to stimulate Mensa members’
thinking. Mensa then posted these challenges to its online ideation database. All challenges are written to elicit
responses from the consumer’s point of view.
Phase 2: Online Ideation
Mensa Process recruited more than 30 Mensa members from a variety of professional backgrounds. Recruits
included both members and nonmembers of credit unions. No financial services experts were recruited. Mensa
members worked on all challenges, which were posted online for two weeks. Mensa members brainstormed online,
collaborated with their colleagues, and input ideas into the collaboration software. Nearly 200 ideas were generated.
Phase 3: Evaluation and Ranking
The best 20 ideas from the sustainability challenge were top-lined in the report. All ideas were categorized by Mensa
executives using the following criteria:
• It is a good idea, answers the challenge, and can be implemented;
• Idea is okay, parts of the idea have merit, warrants further review;
• Idea does not fit the challenge and should be discarded.
15
Green Tools and ideas
1
“Ecological Footprint of Nations Update”. 2002. Page 1. California http://www.rprogress.org/
publications/2002/ef1999.pdf.
2
“Ecosystems and Human Wellbeing Synthesis of the Millennium Ecosystem Assessment”. 2005. Page 1.
World Resources Institute, Washington, DC. http://www.millenniumassessment.org/documents/
document.356.aspx.pdf.
3
“I Will if You Will: Towards Sustainable Consumption”. 2006. Page 3. National Consumer Council and
Sustainable Development Commission, UK. http://www.sd-commission.org.uk/publications/downloads/I_
Will_If_You_Will.pdf.
4
Harvard Business Review. “Why Sustainability is Now the Key Driver of Innovation”, by Ram Nidumolu,
C.K. Prahalad, and M.R. Rangaswami. September 2009. Pages 3–4.
5
Brundtland Commission, World Commission on Env. and Development. (1987). Our Common Future.
England: Oxford University Press.
6
Cone, Inc. Study. 2009. Consumer Environmental Survey. http://www.coneinc.com/content2032.
7
Edelman Good Purpose Study. http://www.edelman.com/news/ShowOne.asp?ID=222.
8
Chairman’s Report, National Youth Involvement Board. http://www.nyib.org/aboutUs_chairmanRep.php.
9
U.S. Partnership Presentation on Sustainability. http://www.uspartnership.org/resources/0000/0063/USP_
Combined_Presentation_Pt_1.pdf.
10 Cone Inc. Study on Generation Y. http://www.coneinc.com/news/request.php?id=1090.
11 Max Gladwell. Research Firms and Green Marketers Have the Same Question. http://www.maxgladwell.
com/2008/08/researchfirms-and-green-marketers-have-the-same-question-generation-y/.
12 Jeremy Simon. Credit Card Reward Programs: A Short History. http://www.creditcards.com/credit-card-news/
reward-programs-ashort-history-1277.php.
13 Molly Plozay and Julie Bohn, First Data. Increase Differentiation and Decrease the Cost of Your Consumer
Bank Cash Program. http://www.firstdata.com/about/whitepapers/WP_bankcardloyalty.pdf.
14 Management Standards, International Organization for Standards. http://www.iso.org/iso/management_
standards.htm.
15 The Natural Step. http://www.naturalstep.org/.
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ideas grow here
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Madison, WI 53701-2998
Phone (608) 231-8550
PublicatIon #210 (3/10)
www.filene.org
ISBN 978-1-932795-89-9