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Cy-Fair FCU Executive One of Three Finalists for $10K CO-OP Think Prize 14
Tuesday, March 4, 2014 6:40 AM

Brett Wooden

Brett Wooden, senior vice president of marketing and innovation with Cy-Fair FCU in Houston, Texas is one of three highly innovative-thinking credit union employees to be selected as a finalist for a $10,000 grand prize presented by MasterCard, as CO-OP Financial Services in the CO-OP THINK Prize 14 competition.

Wooden has served in the credit union movement for about 10 years, and has been with Cy-Fair FCU for less than one year. His idea is a “Where’s My Allowance?” app, and it is designed to help to teach young users about personal finance. It will be launched on the Apple App Store, and if he wins the $10,000, the money will be applied toward the development of the software. Revenue will initially be gained through app sales.

“I’ve been working on this app project since April 3, 2010 and with two large school districts in the U.S. buying iPads for students and teachers, I felt it was time to share it with the industry,” Wooden said. “Also, Cy-Fair FCU serves the largest recognized school district in the state of Texas, Cy-Fair ISD, and I believe the district could greatly benefit from this educational app.”

“Where’s My Allowance?” will leverage the increasing technological savvy of children and rapid projected growth of smartphones and tablets as it promotes its financial education to families as well as private and public schools.

The three finalists were selected from 20 semi-finalists by judges from CO-OP Financial Services and Filene Research Institute. The contestants submitted comprehensive business plans for unique ideas to help the credit union movement compete successfully in today’s financial services market.

The winner of the CO-OP THINK Prize 14 will be announced May 21 at the THINK 14 Conference, being held at the Sheraton New Orleans in the Crescent City, May 19-22, 2014.  Scoring of the winning entry will be based on the critique of judges from CO-OP Financial Services and Filene Research Institute; online voting by credit union employees at www.co-opthink.org; and on-site voting by registered THINK 14 Conference attendees.

Details on the entries by the three finalists can be viewed at www.co-opthink.org/think-prize.

Whether he wins or not, Wooden says he hopes to be known as someone who brings multiple products to the credit union industry that change the way credit union’s think about member interactions.

“Credit Unions have that ‘start up’ mindset where the staff is so passionate about the impact they have on members/nonmembers,” observes Wooden. “Ideas can truly come from anywhere inside the credit union and have a direct impact on the members they serve.”