Anheuser-Busch Employees' Credit Union in St. Louis, Mo.; Catalyst Corporate Federal Credit Union in Plano, Texas; Tropical Financial Credit Union in Pembroke Pines, Fla.; and Tulsa Federal Credit Union in Tulsa, Okla. are the latest financial institutions to take an ownership stake in Members Development Co., the firm said in a Wednesday press release.
With the addition of this quartet of credit unions, MDC, a Minneapolis-based organization that provides research and development services focused on credit union growth, has added eight credit unions and credit union service organizations to its membership rolls in the past 12 months.
"With the increase in emerging markets, new technologies and non-traditional competitors in the financial services industry, it's essential for progressive credit unions to discover opportunities to collaborate especially in the area of research and development," Bob McKay, Anheuser-Busch ECU's president and chief executive, said in the release.
Catalyst President and CEO Kathy Garner said the corporate expects that MDC membership will enrich its strategy and service quality.
"We emphasize research and innovation at Catalyst, so much that we created a full-time position dedicated to their pursuit," Garner said. "But like most credit unions, the resources we can invest in R&D are limited, while the need to be forward thinking and forward acting is great."
Rich Helber, president and CEO at Tropical Financial, said: "We're pleased that MDC and its owners keep up with banking trends and consumers' changing demands through research, education and ongoing projects. We look forward to enhancing our own credit union's member interactions."
Tulsa FCU president and CEO Greg Gallant said the benefits of joining MDC include the ability to gather insights into best practices and member preferences.
"We also benefit from the actionable information and research available through the MDC relationship," he added.
