The conference featured a lineup of keynote speakers, panelists, and breakout sessions addressing critical topics such as regulatory compliance, AI integration, and cross-provincial growth strategies. Jeff Guthrie, the President and CEO of CCUA kicked things off with a powerful statement in his keynote address, “Canadians want organizations that support their communities and support their beliefs.” He was bold in warning credit union leaders that they need to move away from the status quo and start evolving with the “waves of change” happening in the world, “The old ways aren’t working, and the new ones are starting to emerge. In this moment of chaos… it’s also a period of incredible opportunity.”
Some notable sessions like “Socio-Economic Environment: Dealing with the Transformative Elements” by Desjardins CEO, Guy Cormier touched on the current economic environment and how it requires us to examine major social issues and potential solutions through a different lens. Cormier says, “Our members, our clients, our business owners are expecting us to deliver much more than financial services. They’re expecting us to be a leader. They want us to be their compass. They want us to make things simple, to develop adaptive tools and innovate responsibly.”
Embracing Digital Transformation: Speed and Simplicity Over Perfection
The first panel, “Embracing Digital Transformation”, focused on how credit unions can overcome the constraints of budget and resources to stay competitive with the big banks. The discussion emphasized that in the digital age, speed is crucial—credit unions must act quickly, iterate on solutions, and avoid getting bogged down by the pursuit of perfection.
- Yannick D’Souza, Head of Digital, Servus Credit Union
- Brian Harris, CEO of Beem Credit Union
- Dan Johnson, CEO, Innovation Credit Union
- Speed over Perfection: Credit unions don’t need to wait for the perfect solution before launching. The key is to get started quickly, gather feedback, and iterate.
- Focusing on Solving Real Problems: Digital solutions should be focused on solving real, tangible problems for members, rather than trying to cater to every need at once.
- Yannick D’Souza: “Digital transformation isn’t about perfection; it’s about speed and solving a problem quickly. If it’s not right, you can always pivot and improve.”
- Brian Harris: “Collaboration doesn’t have to mean merging. We can scale through cooperation, leveraging partnerships to drive efficiency and innovation without losing our independence.”
- Dan Johnson: “Speed to market is the number one priority. Don’t pursue perfection—learn, implement, and keep going. We need to make mistakes, but we need to make them quickly.”
AEQ Takeaway: At AEQ, we embrace this mindset. Our work on Forge Migration and AI-driven XR solutions is focused on getting digital transformation projects off the ground quickly, ensuring that credit unions can iterate and improve based on actual member feedback. Speed and simplicity are key to staying competitive.
Workforce Transformation and Upskilling: Empowering Employees in the Digital Age
- Jodi Chambers, Chief Strategy & Innovation Officer, Cornerstone Credit Union
- Jamie Kruspel, Chief Transformation Officer, Mainstreet Credit Union
- Karen Hodge Cunningham Change Management Executive, Kyndryl
- Lisa Loughery, Chief Executive Officer, Brunswick Credit Union
- Mandatory Digital Transformation Training: One of the key strategies for workforce transformation is making digital skills training mandatory for management teams.
- Collaboration and Learning: The importance of fostering a culture of continuous learning was emphasized as a critical factor in ensuring the workforce remains agile and adaptable.
- Jodi Chambers: “Technology investments must be driven by business strategy. If you’re not upskilling your team, your technology will not be able to deliver the value you need.”
- Jamie Kruspel: “Speed to market is critical, and the best way to achieve it is by having a workforce that is prepared to move quickly and embrace change.”
- Karen Hodge Cunningham: “We can’t afford to wait for perfection. The pace of change is accelerating, and we must be prepared to move quickly and adapt.”
AEQ Takeaway: AEQ is committed to upskilling through XR training solutions that improve employee engagement and efficiency. By integrating AI and XR into training programs, we enable credit unions to provide personalized, immersive learning experiences that prepare staff for the challenges of tomorrow.
AI and Data: Leveraging Technology for Member Experience and Operational Efficiency
Panelists:
- Bill Corbett, CEO, Stabilization Central
- Chad Griffin, CEO, League Data
- Darren Johnson, Communications Lead, League Data
- Jeff Bisschop, CEO | Crossroads Credit Union
Key Insights:
- AI as a Tool for Efficiency: AI isn’t just for automation; it’s about improving member engagement and reducing operational inefficiencies.
- Leveraging Data for Personalization: The panel emphasized that AI-driven data analytics allows credit unions to provide more personalized services to members.
Quotes:
Chad Griffin: “AI is becoming increasingly prevalent. We have an opportunity as a system to get very rich data insights… to engage with members on a different level, on a meaningful level, again, that aligns with the purpose.”
Bill Corbett: “The other side to that equation is the quality of that data… the data that’s going into that needs to be stronger and richer than ever.”
Actionable Steps for Credit Union Leaders
The conference underscored the importance of speed, agility, and collaboration in today’s fast-paced digital landscape. For credit unions, the ability to act quickly, upskill employees, and adopt new technologies is no longer optional—it’s essential for staying competitive.
- Embrace Agility and Speed to Market: Prioritize MVPs (Minimum Viable Products) that can be launched quickly. Gather real-time feedback from members to iterate and improve. At AEQ, we help credit unions achieve this by implementing strategies that prioritize rapid deployment and fast iterations, enabling business agility with new services that are rolled out quickly and optimized based on actual member needs.
- Invest in Workforce Development: Upskill your employees to ensure they are ready for the digital future. At AEQ, we craft immersive and personalized VR+AI training solutions (AI-enhanced virtual reality) to enhance staff capabilities in a rapidly changing environment, enabling your team to stay ahead of new technologies and provide exceptional member experiences.
- Leverage AI and Data: Use AI and data analytics to create personalized member experiences and improve operational efficiency. AEQ’s AI-powered solutions provide real-time insights to enhance decision-making, helping credit unions deliver more relevant and timely services to their members.
The key to thriving in this new digital era is speed—the speed to innovate, adapt, and serve members better. Let’s continue to work together to embrace change, accelerate digital transformation, and leverage partnerships for long-term success. To learn more about how Aequilibrium can help accelerate your digital transformation, reach out to our team directly for a free consultation.
