The THINK Prize encourages visionaries to submit their ideas for pushing the credit union movement to the next level and beyond by rewarding innovation with development funding in the form of a $10,000 grand prize.
"The purpose of the CO-OP THINK Prize competition is to inspire innovative solutions to issues facing the credit union movement," said Stan Hollen, President/CEO, CO-OP Financial Services. "We encourage everyone to consider entering, for their own professional development, to make their credit unions better, to help our industry, and perhaps to win a nice sum of money."
The solutions put forward in the competition can take any form, including:
- Innovative applications of technology
- New processes for back office efficiency
- Fresh approaches to industry advertising and marketing
Though the ideas can vary widely, the judging criteria for entries are based on four main standards – impact, creativity, aggregation (the application of the idea across the industry) and implementation (the ability to be adopted).