LAS VEGAS–NACUSO has named the winner of its ninth annual Next Big Idea competition, in which companies pitch their ideas for new solutions for credit unions.
Philadelphia-based RenoFi won the 2021 Next Big Idea event after receiving 54% of voted from attendees on hand at NACUSO’s Network Conference in Las Vegas.
RenoFi offers “next-generation, home renovation loans that better meet consumer needs,” according to NACUSO. “RenoFi's Renovation Underwriting platform empowers homeowners and credit unions alike to gain the benefit of higher loan amounts based on the After Renovation Value ("ARV") of a home.”
CO-OP Financial Services sponsored the competition for the second year in a row offering a prize pool total of $10,000. RenoFi received $7,500 for first-place, and the remaining $2,500 was rewarded to the second-place winner, Silvur.
Silvur in app designed to assist and educate Americans 55 and older as they seek to navigate their retirement options. Silvur won “Best in Show” during the VentureTech fintech showcase competition during an event that was help separately but in conjunction with the NACUSO meeting.
NACUSO said the 2022 Next Big Idea Competition will be held during the Network Conference, April 25-28 at the Disney Yacht & Beach Club Resort in Lake Buena Vista, Fla.
Six CUSOs Honored
Separately, six CUSOs were honored during the NACUSO Network Conference for “driving value to the industry with innovative solutions crafted through collaboration.”
“Evaluation of the sixteen total nominees was no easy feat as each shared inspirational stories that best demonstrate thought leadership, innovation in organization design, value created through collaboration, and a proven track record of positive results,” NACUSO said.
Honored were:
- 2021 CUSO of the Year Award Winner -LoanStar Technologies
- 2021 CUSO of the Year Honorable Mention - QCash Financial
- 2021 Distinguished Service Award Winner - United Solutions Company
- 2021 New CUSO of the Year Award Winner - Payac CLG
- New CUSO of the Year Honorable Mentions: Curql Collective, LLC and Nymbus CUSO
Below, the team from QCash accepting award.