GRAND RAPIDS, Mich.– The National Association of Credit Union Services Organizations (NACUSO) said it is now accepting entries for the 2021 Next Big Idea Competition. The deadline to apply is Oct. 1, 2021.
NACUSO described its Next Big Idea Competition as its version of the popular TV Show "Shark Tank,” saying it is designed to showcase innovation, collaboration, and advancements among the credit union industry. 2021 marks the ninth year of the competition, and the second year in which CO-OP Financial Services sponsors a cash prize pool totaling $10,000. The award for first place is set at $7,500 with second place set to receive $2,500.
“The competition provides a platform for visionaries to present their ideas and initiatives that will drive the movement forward; advancing the service and solutions provided by credit unions,” NACUSO said. “Contestants are encouraged to submit ideas or initiatives that meet the following criteria: improve earnings, enhance member service, deliver new products and services to members, and/or improve delivery channels to members. These initiatives can be at any stage in development such as early stage and in need of investment, ready to be delivered, or already in motion currently growing and changing the industry.”
The Timeline
According to NACUSO, a selection committee will select finalists to compete and by Oct. 8 all entries will be notified of their competition status.
The Next Big Idea Competition will be held in-person at the NACUSO Network Conference in Las Vegas this November. On the afternoon of Nov. 9, the selected contestants will have seven minutes to present on stage followed by eight minutes of questions from guest judges. At the end of the presentations, the audience will vote to instantly select the winners.
For info: www.nacusonetwork.com/nextbigidea.