MADISON, Wis. — Wondering what the next big idea in credit union land will be?
It could spring from a new contest from the CUNA Marketing & Business Development Council.
The Council is offering $10,000 in funding to the CU that proposes an idea "with the most potential for impact" in its newest contest called "The Pitch."
The Pitch is designed to showcase "big thinking, bold ideas and forward-looking credit union professionals."
Interested CUs are invited to submit a two- to three-minute video, along with an application describing why their institution should be awarded the $10,000.
The Council said the video can be serious or fun — whatever the credit union needs to convey its message. Entries are due Feb. 6 at 5 p.m. CST.
In addition to funding, the winner will receive support and guidance from Mills Marketing to implement the idea.
"Many of the credit unions with the best ideas for meeting their members' needs are also the credit unions with the fewest resources to implement such ideas," Hilary Reed, senior vice president and chief relationship officer at Inspire FCU, said in a release. "The CUNA Marketing & Business Development Council wants to change that."
The winner will be decided in two stages.
First, submissions will be reviewed by a CUNA Marketing & Business Development Council judging committee, which will narrow the submissions down the ideas that show the most promise.
Then the top contenders' submissions will be presented at the 2015 CUNA Marketing & Business Development Conference in Las Vegas in late March. Finalists will have the opportunity to play their videos onstage and pitch their ideas to the audience.
The winner will be chosen based on audience text votes and invited back to the 2016 conference (all expenses paid) to present the results.
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