It was our pleasure to have a stimulating conversation this month with Chris Hendry, president/CEO of IC Credit Union ($618 million, Fitchburg, Mass.). In addition to our firm having the honor to work with this exceptional organization on both governance and strategy, we are proud of this credit union's achievements in focusing on the best interests of its 35,000 members. We also congratulate Chris on being named CEO of the Year in 2022 by the Cooperative Credit Union Association.

As researched by Filene Research Institute in their second Credit Union Innovation Success Study conducted in partnership with the American Innovation Index, which measures innovation in the overall U.S. economy, its most recent survey from 2023, found that credit unions scored above most banks on the subject of innovation, contrary to most perceptions that they are falling behind. Credit unions experienced a slight increase in their innovation index scores and appeared to be doubling down on their innovation efforts.