The Solutions Design Co-creation Council will have four subcommittees that focus on co-developing features for payments tools, fraud-prevention technologies and other things that solve problems credit unions face.

"It's critical we remain vigilant about scanning the environment for emerging financial services solutions," Elements Financial Federal Credit Union EVP and CIO Chris Sibila said. "The collective sharing of experiences will not only help shape CO-OP's future; it will help shape the entire movement's future. Sibila is a member of the Solutions Design Co-Creation Council.

Elements Financial Federal Credit Union, which is based in Indianapolis, Indiana, has $1.5 billion in assets and about 95,000 members.

The Experience Co-creation Council will help optimize engagement and service experience, and the Strategy Co-creation Council will focus on how to best use CO-OP's assets, the organization said.

"We believe that all three co-creation councils will provide credit union leaders a tangible platform for collaborating on shared business issues," CO-OP Financial Services Chief Marketing and Experience Officer Samantha Paxson said. "Financial services is a rapidly transforming and highly competitive environment. To thrive in it requires diverse ideas, brave thinking and a cooperative spirit."

The councils effectively replace client advisory teams that were in place before CO-OP consolidated with TMG in April 2017. CO-OP Financial Services acquired the Des Moines, Iowa-based payments processor in a $100 million all-cash deal and restructured its management team. The Rancho Cucamonga, Calif.-based CUSO had been a minority owner in TMG for some time before that. At the time the merger was announced, TMG served approximately 400 credit unions and processed transactions for about six million cardholders across the U.S. and Canada. The deal brought CO-OP Financial Services to nearly $500 million in combined revenues.

The first meetings of the co-creation councils will occur this week, CO-OP said.