By Adrian Moise, CEO of Aequilibrium
I recently had the opportunity to attend and present at the World Credit Union Conference (WCUC) in Boston. This event, organized by America’s Credit Unions (ACUs) and the World Council of Credit Unions, brought together leaders from around the globe to share insights, network, and discuss the future of the credit union movement. The conference, held in the historical city of Boston, was a remarkable gathering of minds dedicated to advancing the credit union sector.
Keynote Presentations: Shaping the Future of Leadership and Inclusiveness
The keynote sessions at WCUC were nothing short of inspiring. Shawn Kanungo, a Canadian innovation strategist and best-selling author, started the conference with his high-energy presentation. Kanungo challenged us to disrupt ourselves and embrace unexpected approaches to innovation. His insights on leveraging AI and creativity provided a forward-thinking roadmap for credit union leaders.
René Carayol, the world’s leading executive coach and author, shared his experiences from his tenure at companies like Pepsi and IPC Media. He emphasized the importance of leadership, inclusiveness, and creating environments where everyone can flourish. Carayol’s message was clear: inclusion is everything, and the role of today’s leader is to ensure that everyone feels they belong.
Erica Dhawan, an internationally recognized authority on teamwork and collaboration, closed the conference with her session on breaking team silos and driving exponential growth. Dhawan’s strategies for building trust and connection in a digital world resonated deeply, highlighting the importance of effective communication and collaboration in achieving organizational success.
Breakout Sessions: Practical Insights and Innovations
One of the standout sessions was “Using AI to Create Centralized Member Decision Strategies That Deepen Member Relations” by Tom Tobin, Brett Wooden, and Chris Hamilton. This session delved into how AI can enhance credit decisions, personalize loan offers, and increase member retention. The practical takeaways included leveraging alternative data and starting AI modeling without extensive technical expertise.
Another notable session was “Attracting, Retaining, and Managing Talent in the Hybrid Era” by Caroline Vahrenkamp. This session provided valuable insights into navigating the challenges of hybrid work, enhancing recruitment strategies, and maintaining employee engagement. Vahrenkamp emphasized the importance of transparency, trust, and creating a supportive workplace culture.
Adrian’s Presentation: Revolutionizing Credit Union Training with VR and AI
I had the pleasure of presenting our session, “Revolutionizing Credit Union Onboarding and Training with Virtual Reality & AI: A Case Study from Ent Credit Union.” We focus on supporting the credit union movement by humanizing digital interactions and creating better experiences for staff and members. We highlighted how VR and AI can optimize onboarding and training, streamline operations, and enhance member satisfaction.
We have proudly sponsored key CU events, including the World CU Conference in Vancouver last year, CUNA GAC in March, and the Canadian Credit Union Association conference in May. Our recent presentation at WCUC in Boston received coverage in CU Broadcast and CU Today, showcasing how Ent Credit Union revolutionized training with VR.
Our work aligns with the trends identified in America’s Credit Unions’ 2023 environmental scan:
- Future-focused leadership: Embracing intelligent risks to drive innovation.
- Talent evolution: Addressing skills gaps through advanced training solutions.
- AI and VR as game-changers: Leveraging technology to enhance learning and development.
- Struggle for relevance with young consumers: Creating engaging and modern training experiences to get, keep, and grow top talent.
- Diversification of revenue: Empowering call center agents to guide members toward their “next best product.”
Takeaways and Practical Recommendations
For credit union leaders looking to embrace the future:
– Invest in training and upskilling your staff: Implement VR and AI to enhance onboarding and training processes. Partner with progressive digital agencies specialized in credit unions to drive digital transformation and innovation.
– Promote Inclusiveness: Foster an inclusive culture where everyone feels valued and engaged.
– Leverage AI for personalization and improving staff and member experiences: Use AI to tailor services and enhance member experiences.
– Focus on Talent Development: Address skills gaps through continuous learning and development opportunities.
Looking Ahead: Stockholm 2025
The WCUC 2024 in Boston was a resounding success, providing valuable insights and networking opportunities. As we look forward to next year, I encourage all credit union leaders to join us in Stockholm for another incredible gathering. Let’s continue to drive innovation, inclusiveness, and excellence in the credit union sector.
See you in Stockholm in 2025!
For more information on our work and insights from WCUC, contact me directly or visit our website.
