Filene's Brent Dixon: Up With Collaboration, Down With Myopia
Rather than trying to fight the competition or outperform them, I believe that when you are as local, specialized and so specific in what you do and offer, you don’t have competition because no one does what you do," said Brent Dixon, young adult adviser at Filene Research Institute.
It was that thinking that has helped Dixon carve his own career path to help the credit union industry to reimagine its future.
According to Dixon, the general perception of credit union competition seems to focus on big banks like Wells Fargo or Bank of America, local community banks, even other credit unions, but online banks aren’t even on the radar.
"In a Filene study conducted by Rob Rubin, 86% of young consumers said they wouldn’t switch from an online bank because of the customer service," said Dixon. "Which is ironic because it’s totally self-serve, so even looking at credit unions that are hanging their hat on service as a distinguisher, even that definition is changing."
As for the future of the network, the Crashers have set their sights on helping credit unions increase the availability of affordable home ownership in North America with the Collider Tournament. From the pitch to the concept document to the prototype, the three-part tournament will result in one winning Crasher or group. The winning idea, and the brain trust behind it, will not only be presented at Filene’s Big Bright Minds Conference but will also be assigned a dedicated implementation team to bring the idea to life.
"I think it’s a really important transition to not just being inspired but tapping into the inspiration of the industry and create integration into getting stuff done," said Dixon. "Credit unions have a big responsibility. America is financially broken and busted–who better than the not-for-profit arm of the financial industry to fix it?