CU Impossible is out to save small CUs one at a time!
Starting July 20, credit unions with less than $100 million in assets can begin submitting applications for CU Impossible, a project to encourage smaller credit unions to seek alternatives to mergers.
The CU Impossible project was founded by industry partners Your Marketing Co., uncommn Marketing Partners, Your Credit Union Partner, Brian Rollo Consulting Group and Crosstream Media. The five companies are collaborating on this project to provide strategic leadership and marketing support to credit unions with less than $100 million in assets.
The $16 million Harrison Federal Credit Union in Colorado was the first winner of the CU Impossible contest for 2020. Regarding its selection last year, President/CEO Nick Jensen said, “We were definitely excited. We were all excited. And we felt a degree of vindication…to see that all the partners from CU Impossible that champion small credit unions. It was really empowering for us. They clearly care about our communities – that says a lot about their character.”
The coronavirus hit credit unions hard in 2020, but with the digital marketing and other services from CU Impossible, Harrison FCU has added members it wouldn’t have otherwise reached, including members with ITINs and matricula consular identification with whom the credit union has been working. “There’s no way we would be staying afloat through the pandemic without the support from CU Impossible,” Jensen added, noting other small credit unions’ performance.
The 2021 winner of the CU Impossible contest receives ongoing consulting and services throughout the year, including:
- Strategic Planning with Your Credit Union Partner
- Strategic Marketing Plan + Execution with Your Marketing Co.
- Website by uncommn Marketing Partners
- Executive Leadership Coaching with Brian Rollo Consulting Group
- One Year of Service and Equipment from Crosstream Media
Applications can be submitted at CUImpossible.com after July 20, and the deadline for submission is Aug. 28, 2020. Applications should document the history of the credit union, the current obstacles keeping it from growing, and the potential solutions the credit union has discussed to thrive. Submissions must be signed by CEO and board chair, acknowledging that they are open to any and all ideas and will proceed as suggested by the various experts involved in this project.
In the second phase, the CU Impossible team will hold a phone or video conference with the credit union CEO and board chair of each of the potential finalists to ensure the credit unions are a good fit for the program.
Finalists will be posted online for industry voting Friday, Oct. 16, 2020; the results will be taken into account, but the final decision will be made by the CU Impossible team.
CU Impossible will announce the winner Nov. 13, 2020.
For more details about the CU Impossible project or the participating agencies, visit cuimpossible.com.