Startup Beta Journey Challenge

How might we bring our cooperative values to life by leveraging technology for the benefit of young members?

How might we bring our cooperative values to life by leveraging technology for the benefit of young members?

Challenge proposed by a consortium of credit unions comprising:

Challenge proposed by

Prix défi : 10 000 $
+ accompagnement des experts Hydro-Québec

Prix défi : 10 000 $
+ accompagnement des experts Hydro-Québec


This challenge is tied to the united nations’ sustainable development goals:


This challenge is tied to the united nations’ sustainable development goals:

Background

  • 64% of young Canadians are spending at least half of their incomes on housing costs, according to a survey by Habitat for Humanity Canada
  • Last year, credit unions across Canada gifted $62.4 million through donations, sponsorships, scholarships, foundations, and volunteer hours.
  • Real-world examples of credit unions utilizing technology to advance their cooperative values:
    • Vancity credit union’s online loan program that supports small businesses and entrepreneurs.
    • Desjardins’ mobile game, Aléa, features educational resources and tools for financial literacy.
    • Alterna Savings’ commitment to carbon neutrality and sustainability initiatives.

Credit unions have always been rooted in cooperative values, emphasizing principles such as:

  • Self-help and self-responsibility: Members actively participate in the credit union’s governance and decision-making processes.
  • Democracy: Members have a say in how the credit union is run through voting rights and participation in general meetings.
  • Equality: All members are treated fairly and have equal access to the credit union’s services.
  • Solidarity: Members support each other and the community through initiatives.
  • Equity: The credit union strives to distribute profits and benefits fairly among its members.
  • Sustainable development: The credit union takes environmental and social factors into account when making decisions.

In today’s digital age, credit unions have a unique opportunity to leverage technology to bring these values to life in new and innovative ways. This challenge aims to explore how technology can be used to:

  • Increase member engagement and participation: Develop digital platforms and tools that make it easier for members to participate in the credit union’s governance, access financial services, and connect with each other.
  • Promote financial inclusion: Utilize technology to reach underserved communities and provide them with access to financial services and educational resources.
  • Support local businesses and communities: Develop innovative financial products and services that support local businesses, entrepreneurs, and community initiatives.
  • Promote environmental sustainability: Implement green technologies and practices to reduce the credit union’s environmental footprint and contribute to a more sustainable future.

Challenge as part of Cooperathon 2024 – Startup Beta Journey

As leaders in the non-profit cooperative financial institutions sector, The Credit Unions Consortium, by BEEM, Desjardins, Innovation Federal Credit Union and Meridian, is looking for ground-breaking solutions to help players in these industries and their partners develop innovative technological solutions that enable credit unions to:

  • Enhance member engagement and participation in democratic processes.
  • Deliver personalized and inclusive financial services.
  • Promote financial literacy and education for their members.
  • Collaborate more effectively with other cooperatives and community organizations.
  • Achieve greater operational efficiency and sustainability.
  • Increase awareness of Credit Union values.

Data, articles & information

Unlock this information on by registering today to Cooperathon 2024 – Startup Beta Journey.

Tackle this challenge and bring your startup to the next level

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We connect passion and talent, communities and academics. Together we develop a socially responsible future.

“Cooperathon” is a Trademark of the Fédération des caisses Desjardins du Québec.

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We connect passion and talent, communities and academics. Together we develop a socially responsible future.

“Cooperathon” is a Trademark of the Fédération des caisses Desjardins du Québec.

Cooperathon @ FacebookCooperathon @ InstagramCooperathon @ TwitterCooperathon @ YouTubeCooperathon @ Linkedin

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