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Updated 1.21 Home Here and There Financial Partnerships

Home Here and There creates a financial partnership that translates money to freedom and options.

Photo of Delisa Dyess

Written by

Who is your idea designed for and how does it support the dreams and obligations of those 50 and older?

Home here and there allows people 50 and older (actually people from 20-80+) to experience different 'home' locations for extended time periods. People often talk of traveling, living different places and immersing themselves in the culture or volunteer work but few actually pursue this because of financial and other constraints. This type of financial partnership will allow them to target this lifestyle opportunity to make the dream a reality.

How might we develop a financial partnership that allows people in semi-retirement to full retirement be able to live in multiple locations as they choose? These would be private residences in locations all over the world where people could live for 1 months to 1 year. Individuals or couples would reside in these small homes, apartments or cabins. Existing resources can be leveraged or we could consider creating communities. This would allow them to experience life in other places they had always dreamed about, explore areas they are considering for permanent relocation or embed themselves in areas where their volunteer efforts are needed. These residences must allow access to technology, be cost efficient and provide for changes in health and mobility as people age. The financial model is of importance to make this possibility affordable. 

Supporting documents are attached and at this link:

https://www.dropbox.com/sh/m4q5fzbqnk8ojaz/AACCxMtHgtIocFcdJoDF9ySja?dl=0

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What early, lightweight experiment might you try out in your own community to find out if the idea will meet your expectations?

My initial ideation and "idea wheel" proposes different possible solutions to create location flexibility and rotation. I conducted interviews and did a survey to determine which solutions were most appealing and possibly the most viable. I walked people through the user map developed for the account and points piece of the idea. If my idea is selected to move forward, I will develop additional assets to support the other options in the idea.

What skills, input or guidance from the OpenIDEO community would be most helpful in building out or refining your idea?

Input and guidance on different financial models would be most helpful. Also legal knowledge to overcome barriers that would prevent this from working.

Tell us about your work experience:

I am a designer and I focus primarily in healthcare.

Please check all that apply:

  • I'm not currently involved in a credit union, but am curious to learn more!

This idea emerged from

  • An Individual

How would you describe this idea while in an elevator with someone?

Have you ever thought about living somewhere else for a little while? Wouldn't it be great if there was a financial partner that could help make that easier? Well with COOP Financial Here and There services it can be a reality. Your money works for you in ways that give you freedom to adventure.

How might your idea be transferable to a large number of people?

Scale in two primary ways: 1) Adoption at the "Corporate Level" of credit unions, meaning all branches within the system. This will quickly grow the idea domestically with possible similar expansion globally. 2) The idea is a lifestyle idea that extends beyond the 50-something age group proposed in the challenge. By opening up to people from 20 to 80+ you significantly multiply the audience. Specific marketing will be used with the different groups to drive awareness. Ad comps at link above.

How do you plan to measure the impact of your idea?

Impact will be measured by enrollment into the Here and There financial accounts.

What are your immediate next steps after the challenge?

I would want to meet with advisors from CO-OP to get detailed feedback and preferences on the idea. From these learnings I will continue to refine the idea and work on other elements of the business side of the idea. From my perspective there are multiple ways we can approach to allow this idea to help people reach their dreams but since I don't have a financial background I need detailed guidance in this area.
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Attachments (3)

User Experience Map.pdf

User journey for 50-something couple walking through the Here and There account experience.

Ad Comps.pdf

Rough ideas of advertising to bring awareness to Here and There opportunity.

21 comments

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Spam
Photo of Kate Rushton
Team

Hi Delisa,

It is great to see the user journey and the personas, and the fact that so many people would consider working remotely for three months to one year. I wonder if any of these companies could be a source for interested participants - https://skillcrush.com/2014/10/30/50-companies-hiring-remote/

Spam
Photo of Delisa Dyess
Team

Hi Kate,
thanks for the link. I'm definitely interested in remote working and think it's great to see such strong companies recognizing the value and promoting this opportunity.
My survey participants ranged from approximately 25 to 70 and the survey results show that 70% are interested in working remotely, with the majority of respondents saying 1 month at a time in another location would be their ideal.

Spam
Photo of Delisa Dyess
Team

Kate Rushton Hi Kate...I'm furiously working toward the deadline to finalize my concept and uploads, etc. Just to clarify....everything needs to be submitted by Saturday the 21st?

Spam
Photo of Kate Rushton
Team

Yes, 5 pm Pacific Time on the 21 January.

Spam
Photo of Andrea Sánchez
Team

Hi Delisa!

I'm really interested in your idea, I think that is a way for making one of the most common lige goals into real: travelling.
I know some villages which they are supplied by themselves. The people who live in this villages barter in order to get food, and other needs. Each house of the village has an objetive, some of them make bread, some other tend vegetable gardens or raise farm animals. Maybe that helps you, I will search for an internet webpage that explains this in a more detailed way and I'll send it to you if you are interested!

I'm looking for knowing more about this project!

Spam
Photo of Delisa Dyess
Team

Thanks for the feedback Andrea! @AndreaSanchez I'm hoping I can make the idea into a real possibility as I finish refining.

Spam
Photo of Natalie LeRoy
Team

In the future, I hope that my idea can reference yours as an option for users!

Spam
Photo of Delisa Dyess
Team

Kate Rushton  Hi Kate, Happy start to the New Year! I've been doing lots of thinking, bouncing the ideas off otheres, and sketching. I'm working with a couple of different ideas and working on user stories and journeys for both. I also have a survey out to a group to discover their preferences for financial options. I'm working with the toolkit and plan to create and submit multiple items to support my ideas. Thank you for the reference links you provided...I will check them out as I continue to refine.

Spam
Photo of Kate Rushton
Team

Hi Delisa,

This is great to hear! I would recommend keeping it simple and focused. I can't wait to see the updates.

Spam
Photo of Delisa Dyess
Team

@ Gianni Giacomelli Thanks for your comment. I am working to narrow down a few different streams of ideas. Some of which include new ways of leveraging existing resources. The others tie in closely with new financial models to keep our investments more liquid.

Spam
Photo of Gianni Giacomelli
Team

nice! can you piggback on existing accommodation and job postings boards? e.g. craigslist. building critical mass in these things is half of the battle, perhaps there's synergy with some of these sites.

Spam
Photo of OpenIDEO
Team

Welcome to the Refinement phase Delisa! We've added new Refinement questions to your original submission that we'd love for you to answer. Please check out the Refinement Phase Toolkit for instructions on how to answer the new questions and other recommendations we encourage all idea teams to consider in the upcoming weeks.

Refinement Phase Toolkit: http://ideo.pn/2du9sf7

Lastly, here's a useful tip: When you update the content of your post, it'd be helpful to indicate this in your idea title by adding an extension. For example, you can add the extension " - Update: Experience Maps 12/21" to you idea title. This will be a good way to keep people informed about how your idea is progressing!

Spam
Photo of Rachel Rosenbaum
Team

Hi Delisa!

I LOVE this idea. I'm thinking about how attached people become to the houses and communities they raised kids in and wondering how we can allow them to continue owning their home in a financially sustainable way. Is there a way to build in renting their current homes or somehow making money of the land their currently own so the experience you're suggesting can reach a broader audience while allowing families to return to the place they've loved for so long?

Spam
Photo of Delisa Dyess
Team

Hi Rachel,
thanks for the support and so excited to see the idea resonates with others! Right now I'm percolating up ways to expand the idea, especially exploring new and additional financial models that can make this possible for more people, all ages and incomes. As you mentioned, people become attached to places through legacy, memories and investment and am hoping to come up with ways to allow "moving in and out" and sharing versus having to sell. I really appreciate your feedback!

Spam
Photo of Kate Rushton
Team

Hi Delisa!

I look forward to seeing how this idea develops in the refinement phase.

Spam
Photo of Delisa Dyess
Team

Hi Kate,
exited to take the idea to the next phase! Thanks for the encouragement.

Spam
Photo of Kate Rushton
Team

Hi Delisa!

I am not sure how helpful this will be for your idea, there is a travel company called 'Love Home Swop' where people swop homes for vacations. The lady who founded the company experimenting with different finance models and the one that was eventually selected was based on points. If you rent your home, you get x points and you can use those points to rent a home in a similar 'banding'. www.lovehomeswap.com

Spam
Photo of Delisa Dyess
Team

Hi Kate,
thanks so much for your comment. My idea can absolutely tie into the 'digital nomad culture'. The small, flexible spaces would be a great fit for this type of work. I will check out the post by Linda Dorman 
As for the role of the credit union...I'm interested in exploring a financial model that allows for people to join a membership that allows these type of stays. Maybe members invest or pay into this fund and x money allows for x days of stay? Or x dollars = 1 year of flexible stay in 4 different locations?

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Photo of Kate Rushton
Team

Hi Delisa!

Interesting idea! Could this be a way of tapping into the growing 'digital nomad culture' mentioned in the post Co-working/co-living spaces for 50+ digital nomads all over the world by Linda Dorman ?

What do you see as the role of credit unions in your idea?

Spam
Photo of Shane Zhao
Team

Hi Delisa, great to have you onboard! We noticed your post is currently unpublished. Was this your intention? We'd love to have it be included in the challenge. You can publish it by hitting the "Publish" button at the top of your post. You can also update your post by clicking on the "Edit Contribution" on top. We're looking forward to seeing your contribution in this challenge.

Spam
Photo of Delisa Dyess
Team

Hi Shane,
that's what happens when working late! Thanks so much for the alert. I just published it. I'm excited to be participating in this challenge.