A new currency app, a library-based financial literacy program,a loan-approval program, a social entrepreneurship program in theDemocratic Republic of the Congo and a grassroots financialcampaign for youth are all winners of this year's CO-OP THINK Prize, the CUSO announced today.

This year marks the first time the prize has been awarded tomore than one winner. It was also opened up to everyone, not justcredit union employees, CO-OP spokesperson Bill Prichard said. Onewinner is a credit union employee and three others are credit unionmembers, he added.

This year's THINK Prize, for which CO-OPbegan accepting ideas for consideration in March, attracted almost15,000 visitors, more than 500 active participants and almost 2,500online comments and contributions, CO-OP said.

“CO-OP worked with OpenIDEO and an expert advisory panel toassess ideas produced by people from all walks of life, sometimescomprising large, international teams, and which often includedhigh school and college students,” CO-OP Chief Marketing OfficerSamantha Paxson said.

For consideration in the prize's “refinement” phase, which ranfrom May 5 to June 3, 26 ideas were selected. The five winningideas were chosen based on how well they met six criteria:Human-centered, collaborative, community-centered, unique, showed avision for success and were implementable.

The winners will each receive $2,000. They are:

Community Coin

Originator: Justin Bean, founder of 3D Printing for Humanityin San Francisco, Calif.

Idea: An online and mobile app platform for the exchange ofgoods and services between individuals. The idea calls for a newreputation- and service-based currency that can be created,distributed and managed in several different ways, without relianceon or validation from financial institutions.

Libraries as Financial Literacy Hubs

Originator: Trevor Hallstein, entrepreneur and fund managerin Oakland, Calif.

Idea: Use libraries as a community hub to teach skills andexpose community members to tools that will help them reach theirfinancial goals. The idea proposes a financial literacy program forthe patrons of Oakland Public Library, with the goal of scaling theapproach to other libraries and community spaces.

Re-Look

Originator: Nicole Lopez-Conti, Community Outreach Manager,Patelco Credit Union, San Francisco, Calif.

Idea: Re-look turns credit union members' declined loans intoapprovals. For those who have been declined for a loan, it offersborrowers a 30-, 60-, 90- or 180-day track to reapply successfully.Credit union representatives will examine the reasons for loandecline and offer advice to put members on a path to successfulborrowing.

Harnessing the Power of Volunteerism to Empower Youthand Women

Originator: Jean-Marc Mercy, CEO/Founder, the BridgeInitiative, Democratic Republic of the Congo

Idea: Train youth volunteers in financial literacy and communitydevelopment from the Bridge Initiative, a nonprofit NGO based inKinshasa, whose mission is to promote volunteerism and socialentrepreneurship as pathways to decent work. Volunteers would serveas community ambassadors to help the young – especially girls andwomen – gain financial knowledge.

A Grassroots Youth Campaign to InitiateChange

Originator: Tori Adele Signorelli, freelance designer andwriter in Cincinnati, Ohio.

Idea: This idea taps into the power of young people to changethe way people think and talk about money. Inspired by the Rock theVote initiative, this grassroots campaign would engage 17- and18-year-olds through channels such as social media, a classroom kitand on-campus events.