By Idella Kangas, Economic Development | Universities of Wisconsin
I had the pleasure of meeting Brandon Riechers, President and CEO of Royal Credit Union, at an event Universities of Wisconsin President Jay Rothman hosted in May 2024. Out of that conversation came an opportunity for three of our universities—UW-Eau Claire, UW-River Falls, and UW-Stout—to collaborate on Royal’s Innovation Lab, bringing students and faculty together to tackle data intelligence challenges. I welcome you to read more about how the collaboration came together, the faculty expertise that supported it, and what students experienced.
As the campuses were co-developing the project, I wanted to understand more about the work credit unions do here in Wisconsin and what defines this sector.
Understanding the Cooperative Structure
Wisconsin has 101 state-chartered credit unions managing more than $69 billion in member-owned capital. According to JobsEQ data, Wisconsin has a location quotient above 1.0 for credit unions, meaning we have a higher concentration of these institutions relative to the national average. They’re anchored in communities across the state—particularly in rural areas—serving as employers and financial services for families and small businesses.
As member-owned financial cooperatives, credit unions operate with a structure where members are also owners. Earnings flow back to members through better rates and community investments. Sarah Wainscott, President and CEO of the Wisconsin Credit Union League, shared how this structure shapes operations: Wisconsin credit unions run 75 in-high school branches focused on financial literacy, operate mobile branches in small towns, and work with borrowers over time to build capital readiness.
Technology Demands Meet Workforce Constraints
Credit unions face challenges familiar across Wisconsin’s economy: workforce shortages, retiring leadership, and rapidly evolving technology demands. Sarah reports that credit union leaders need help with emerging areas like cryptocurrency markets, ways to detect and combat AI-powered fraud, and data analytics. About half of Wisconsin’s credit unions have assets under $100 million, which means they operate with lean staffs and limited resources for specialized hiring. Credit unions can help unlock community capital – but capital without capacity can lead to missed opportunities for communities and members.
A Model for Collaboration
When Brandon needed data intelligence capabilities, he chose to work with students rather than hire consultants, seeking natural curiosity and fresh thinking. The three-campus collaboration required careful coordination. Faculty from UW-Eau Claire, UW-River Falls, and UW-Stout worked together to understand Royal’s goals and shape an internship program that aligned business needs with meaningful student learning outcomes. Each brought complementary expertise, creating what faculty called a distributed mentoring model.
Students built machine learning models using SQL and Python, testing approaches and making recommendations—work typically done by research and development teams. The collaboration allowed Royal to try innovative ideas without disrupting existing projects, while students gained hands-on experience with real business challenges. Read more about the faculty approach and student outcomes.
This Doesn’t Have to Be a One-Off
This partnership demonstrates something important: our campuses around the state are equipped with skilled faculty and students ready to address real business challenges. Whether it’s data analytics, technology transitions, or workforce development, Wisconsin’s constellation of 13 public universities can connect regionally with organizations facing similar needs.
The model isn’t limited to credit unions or financial services. Mission-driven organizations with lean staffs, technology demands, and deep community connections might find UW partnerships valuable for building capacity. When we help sectors strengthen their capabilities, we’re unlocking capital and resources that flow to communities across Wisconsin.
Sarah Wainscott framed the opportunity clearly: “We’re always looking for partnerships to create capital access. Wisconsin needs more capital. There’s a fire and we have a bucket of water. Let us help out.”
When asked about exploring more university-credit union partnerships, her response was immediate: “Sign me up.”
Ready to explore opportunities? If your organization faces workforce constraints, technology transitions, or capacity challenges, I’d like to hear about it. My role is connecting Wisconsin businesses with university resources that address real problems.
Idella Kangas
Economic Development, Universities of Wisconsin
Connect: To explore how UW partnerships might address your business challenges in talent, innovation, or community impact, complete our brief interest survey or contact Idella Kangas directly.
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Learn more about this collaboration:
• Multi-campus coordination (UW-Eau Claire)
• Faculty expertise and mentoring (UW-River Falls)
• Student experience and outcomes (UW-Stout)