NACUSO25: BankSocial's Becky Reed Talks Today's Collaborative Innovation Sprint for Credit Unions...

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Becky Reed, Chief Operating Officer at BankSocial, Founder at BRaaS, and outgoing Board Chair at NACUSO, joined us in the Studio Lounge to open our coverage of 2025 NACUSO Reimagine to discuss a number of topics such as the new CUSO model - credit unions investing alongside VCs, private equity and angel investors.

Becky also highlighted her conference session on "Collaborative Innovation Sprint: Solving for Small Credit Union Challenges" that sparked actionable ideas and surface fresh approaches that small credit unions can actually run with -- no fluff, just focused creativity and shared problem-solving.

She also introduced the Converge Accelerator, which promotes innovation through hackathons with college students. Team Lendora won for their tokenized loan participation platform. (Team will be on CUbroadcast. Stay tuned!). Along with the Converge Accelerator, Becky mentioned the partnership with Google to support future hackathons.

Q&A summary
What is the Converge Accelerator and how does it benefit credit unions?
The Converge Accelerator helps credit unions innovate by allowing them to bring ideas to hackathons where college students build prototypes in a weekend. This gives credit unions a proof of concept to pilot.
What unique opportunities does the Converge Accelerator provide for college students?
The accelerator connects college students with credit unions, allowing them to work on real-world projects and gain experience while potentially securing internships or job opportunities.
Can you share details about the recent hackathon and its winners?
The recent Ivy League hackathon saw a team called "Lendora" win by creating a tokenized loan participation platform in just 30 hours. The team consisted of freshmen, including three girls, highlighting the importance of women in tech.
What role does Google play in the Converge Accelerator?
Google partners with the Converge Accelerator by providing facilities for hackathons and offering students access to their platforms and tools, enhancing the innovation process.
What are the future plans for the Converge Accelerator?
Future plans include hosting the "Lone Star Hackathon" in Texas, where students will participate in building solutions for credit unions, followed by an accelerator program in the fall.
What is the significance of the community aspect for Gen Z and millennials in relation to credit unions?
The community-focused nature of credit unions resonates with Gen Z and millennials, who value ownership and giving back, making them more likely to engage with credit unions.

Check it out and let us know your thoughts. Be sure to watch more episodes from our 2025 NACUSO Reimagine on the interview archive page. And check out the sponsors who support CUbroadcast's coverage of Reimagine: 
Velera
Backbone
Tyfone
ASAPP Financial Technology
Despite Impossible podcast