GRAND RAPIDS, Mich.–– The National Association of Credit Union Services Organizations (NACUSO) is now accepting entries for the 2022 Next Big Idea Competition. Entries will be accepted through March 17, 2022.
NACUSO is also accepting nominations for its CUSO of the Year honor.
“The Next Big Idea Competition is NACUSO’s version of the popular TV Show Shark Tank’ and is designed to showcase innovation, collaboration, and advancements among the credit union industry,” NACUSO said. “This year marks the tenth year of the competition, and the third 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.”
According to NACUSO, 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.
The Criteria
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,” NACUSO said.
A selection committee will select finalists to compete, and by March 28 all entries will be notified of their competition status.
The Next Big Idea Competition will be held in-person at the NACUSO Network Conference at Disney’s Yacht and Beach Club Resorts in April. On the afternoon of April 26th, 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.
To submit an idea or review important information related to the 2022 Next Big Idea Competition, visit www.nacusonetwork.com/nextbigidea.
Nominations for CUSO of the Year
Separately, NACUSO said it is also now seeking nominations for its 2022 CUSO of the Year Award and New CUSO of the Year Award (for CUSOs that have been around for less than five years).
NACUSO noted it recognizes these CUSOs annually at its conference to “inspire others in the credit union industry to continue to make certain the future of credit union collaboration through CUSOs is secure.” The formal announcement and presentation of the awards will take place on April 27 during the NACUSO Network Conference at Disney’s Yacht and Beach Club Resorts.
“NACUSO understands the importance that collaboration and innovation play in building a strong and vibrant credit union industry,” said CEO Jack Antonini. “The CUSO of the Year Award has been in place as far back as 1998 and has recognized such legendary CUSOs as CO-OP Financial Services, PSCU, CU Direct, CU*Answers, The Servion Group, Member Access Processing (MAP) and most recently LoanStar Technologies.” In addition to these winners, United Solutions Company was awarded the 2021 CUSO of the Year Distinguished Service Award.
New CUSO of the Year
The New CUSO of the Year Award has recognized CUSOs such as CU Revest, Member Support Services, Constellation Digital Partners, Zogo Financial and our most recent winner, Payac CLG, a CUSO from Ireland, NACUSO added.
“The nomination process is very simple and offers an interview format rather than a written response to questions asked of each CUSO,” the organization said. “Credit unions and CUSOs can simply enter a nominee’s information online and NACUSO will contact the appropriate person to schedule a conference call with the judges.”
To submit a nomination, view the nomination criteria, process, general rules and information visit www.NACUSOnetwork.com/cusoawards. The deadline to submit nominations is March 7, 2022.
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