Young & Free licensing update.

By Tim McAlpine

It's been 55 days since we went public with our offer to license Young & Free. I have had a lot of folks asking how its going. Since I've been very open about our Young & Free journey so far, I think what I will do is give an update on our blog from time to time.

The interest has been overwhelming. To date, a total of 72 individual credit unions and 6 groups of credit unions from 7 Canadian provinces and 31 US states have come forward and filled out the interest form and signed a non-disclosure agreement.

Fielding interest has turned into Nala's full-time job. The dialogue she is having is fantastic and is forcing us to answer many questions we hadn't thought about and tighten up how the program will work as we roll Young & Free out across North America. Let me tell you, credit unions certainly do their due dillegence when making a big decision like this and we certainly appreciate that!

In addition to our founding partner, Common Wealth Credit Union gearing up for the September launch of its year two spokesperson search, we have two new credit unions that have signed plus a number that are extremely interested. Watch for the launch of the first US Young & Free Program in the Fall. Exciting times are just ahead!

We have also turned down one very keen bank. This felt good! We will not license Young & Free to banks. Period.

As I've stated before, I believe this program can add ten of thousands of new members to the credit union movement. Thanks to all of your interest, this dream has a real chance of becoming a reality. Thank you.

Comments

1) Ginny Brady @ Jul 28, 2008
http://www.theboardcast.net

Tim, congratulations on the wonderful response to Young and Free.

2) Jeffry Pilcher @ Jul 28, 2008
http://www.thefinancialbrand.com

Why limit Young & Free to just credit unions? For that matter, why limit Young & Free to just financial institutions?

3) Roger Conant @ Jul 28, 2008

Congrats, Tim. Well done!

4) Eric Dillon @ Jul 28, 2008
http://www.youngfreealberta.com

Thanks Tim for recapping our progress in creating a North American group of Young & Free Credit Unions. At Common Wealth, we are really excited about creating a broad network of young people that are passionate about credit unions. Even better, we are hoping that this will become a great example of cooperation between credit unions to deliver something exceptional for young members.

The more Young & Free Credit Unions, the better!

5) Trevor MacDougall @ Jul 29, 2008
http://www.acyl.coop

I would be very interested to read your response to Mr. Pilcher's question above.

6) Tim McAlpine @ Jul 29, 2008

@Jeffry and Trevor - the answer to Jeffry's question deserves a blog post on its own. I'm on vacation this week, but I will put some time into a response for next week.

Thanks.

7) Denise Wymore @ Aug 08, 2008
http://www.denisewymore.com

Hey Tim! I came across this in my daily google alerts....cool...

http://techblog.dallasnews.com/archives/2008/08/resource-one-credit-union-need.html

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