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Catalyst Corporate Teams with MEMBERS Development Company for R&D

by Catalyst Corporate | Sep 27, 2016

Catalyst Corporate sees exploring, testing and implementing new ways of doing business as critical to ensuring member credit unions receive the products and services they need. However, accomplishing that goal on its own would carry a hefty price tag. To address this dilemma, Catalyst Corporate has become an owner of MEMBERS Development Company, in order to enhance and expand member services through collaborative research and development economies of scale.

Catalyst Corporate President and CEO Kathy Garner, says the Corporate, which has more than 1,300 member credit unions in 31 states, looks forward to working with MDC owners to find creative solutions that will enrich its own strategy and service quality. That’s not surprising, given a mission statement that highlights providing exceptional member value.

“We emphasize research and innovation at Catalyst Corporate, so much that we created a full-time position dedicated to their pursuit,” said Garner. “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.”

MDC, which recently celebrated its 15th anniversary, provides progressive credit unions with the tools and processes to work together on ways to remain competitive in the financial industry. By joining forces, MDC and its owner credit unions, CUSOs and related organizations seek to anticipate consumer demands in a fast-paced technology world, as well as find novel, yet practical solutions.

“Our aim is to strengthen credit unions by analyzing trends and researching the most cost-effective ways to address emerging issues,” said Jeff Kline, MDC’s Chief Executive Officer. “We view our company as the ‘million-dollar R&D department for owner credit unions.’”

MDC hosts two Owner Meetings a year – action-oriented educational conferences that not only offer expert knowledge on topics like fin-tech strategies and driving member loyalty, but also allow time for MDC’s Innovation Council (comprised of owner credit unions and MDC staff) to share empirical consumer-behavior research.

Garner, who attended her first MDC Owner Meeting in August, along with Amy Fuller, VP of Innovation Strategy for Catalyst Corporate, said the opportunity to collaborate with progressive credit unions has already proven a tremendous benefit, offering insights into how the Corporate can help its member credit unions remain competitive.

“At Catalyst Corporate, everything we do is centered on serving the member-owners, whose investment in the Corporate represents their own commitment to collaborative solutions,” Garner said. “Joining MDC allows us to enhance an already strong value proposition both directly and indirectly – whether through the development of new services or through our support of critical R&D that will advance the movement as a whole.”

Already, Catalyst Corporate is taking an active role with MDC, with Fuller joining both the Innovation Skills Advisory Team and the Project Advisory Team. MDC typically works on 5-8 active projects at any given time. Owner credit unions and CUSOs suggest and prioritize projects, using a structured project-management approach.

Learn more about MEMBERS Development Company’s research and development projects at  www.membersdevelopment.com.

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