MADISON, Wis. — Credit unions with ideas that could potentially lead to the development of new products are invited to share them at The Greenhouse, a new Web site from CUNA Mutual Group.
The Web site, www.cunamutual.com/thegreenhouse, provides a forum to submit suggestions for new products or improving existing ones. CUNA Mutual has created a new product development team responsible for developing high-potential products and services that can ultimately move forward to market. The team will manage a process that systematically moves product ideas through a five-stage process: idea generation; concept development; business plan development; pilot launch phase; and full commercialization.
Each product is evaluated critically at the conclusion of each stage to determine whether the idea merits advancement to the next stage. Only a very small portion of the submitted ideas will actually advance all the way through five stages, CUNA Mutual said. Some ideas may be handed off to an outside group such as the Filene Research Institute or MEMBERS Development Company.
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