MADISON, Wis. — Mid level credit union executives which are part of the Filene Research Institute's Ideas, Innovation and Implementation group (called i3 for short) have come up with seven new products and services that credit unions can either offer their members or adapt to streamline their own procedures.

Among the innovations offered in some detail were ideas like an auto resource center that credit unions can add to their Web sites to help their members manage information and requirements needed to buy and own an auto. In another, members could sign contracts to add a little more to each auto loan payment which will help build a savings component for the next car.

"This year's new i3 ideas reach across the entire spectrum of credit union operations," said Denise Gabel, chief innovation officer for Filene. "They range from a community development project of possible national scope to education in cyberspace, as well as tweaks to existing credit union products that can help deepen relationships with members and encourage them to easily increase their savings. Our model of open source innovation is so exciting because these ideas can now be piloted and enhanced, thanks to the unique cooperative structure of the credit union industry."

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