With its "Innovate! TCU Business Challenge," Teachers Credit Union is awarding businesses at least $25,000 — including a $15,000 first prize — to celebrate and support bold innovations that offer a promising outlook for the future in the wake of the coronavirus.
The pandemic has suddenly and dramatically impacted businesses. Many have reinvented their operations or even shifted types of products and services they provide in response to medical and financial needs. The "Innovate! TCU Business Challenge" is designed to recognize and support those businesses that have best demonstrated their resilience and innovative spirit.
The challenge runs through June 15. Entrants must be a TCU business member and have either a business loan or business deposit account. For-profit business and nonprofit organizations are eligible.
“Many of TCU’s business members are facing the impact of the pandemic head-on, both absorbing the brunt of the economic downturn, while innovating to adjust to new realities,” said Paul Marsh, TCU’s President and CEO. “The determination and adaptability we have seen from our business members to fulfill community needs, to keep people employed, and to build a foundation for future economic success, has inspired us to create this challenge to support their efforts.”
Business members may enter the challenge at tcunet.com/innovate.
They must meet the following criteria to be eligible:
- Entrants must be a TCU business member in good standing as defined by TCU and have either a business loan or business deposit account.
- Entrants must complete the Innovate! TCU Business Challenge form at tcunet.com/innovate by June 15. (Supplemental information can be submitted as an attachment to the entry form.)
- Business owners, employees, or community members may submit an entry on behalf of an organization.
One entrant will be selected to receive $15,000 and at least two others will receive $5,000. Selections will be made by TCU officials. Winning businesses will be notified no later than July 15.