MINNEAPOLIS—MEMBERS Development Co. is marking its 15th anniversary, and the CUSO, which focuses on research and developments, said it is focused on growing its ownership base and communicating its role within the industry.
MDC said it helps its credit unions turn ideas, threats, and opportunities into actionable learnings, new products and services, improved delivery channels, and enhanced member satisfaction.
“With tech startups and established players taking aim at the financial industry, it makes sense to expand our reach, given MDC’s collaborative model for mutual success within our credit union community,” said CEO Jeff Kline. “In fact, collaboration is not only in our DNA, it assures our owner credit unions the time and resources to explore new initiatives so they not only can dream big, but also compete big.”
MDC reported that in recent months it has added new owner credit unions to its rolls, for a total of 40, representing almost $100 billion in assets and seven-million members. Kline said MDC expects to add six to 10 more owners in the next six months, although the company may limit the number of participants in the near future.
Most recently, MDC has conducted research on member engagement at all stages of life, channel maturity and consumer preferences, mobile strategy, modern marketing tools and techniques, and the member experience.
To help educate the credit union community about MDC’s work and capabilities, the company is expanding its communication efforts via social media and traditional media outreach. This summer, MDC added a social media staff professional and engaged MJB Public Relations Group to help it become better known in the industry.
“During our semi-annual owner meeting earlier this month, we soft-launched our social media program, which includes interactive opportunities through Twitter and Facebook,” Kline said. “We’ll also share information, select findings and topical articles of interest to readers via LinkedIn, our blog and industry news media opportunities.”
Kline added that spreading the word about the benefits of larger credit unions working together to stay competitive is a top goal. “MDC has been at the center of collaboration among owner credit unions, corporates, industry leaders and service providers for 15 years and it’s a model I predict will prosper over the next 15 years, as well.”