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CU Snapshot

 Mar '18Feb '18
# of CUs5,5965,757
Total Assets
($ billions)
Total Savings
($ billions)
Net Cap.
Loans to Savings81.5%82.6%
Loan Delinq.0.8%0.9%

         Credit Union Indicators

Grasp Member Behavior Through Analysis

Use big data to serve your members better.

All credit unions can leverage "big data" to serve members, drive growth, and strengthen operations, according to a Filene Research Institute white paper.

The paper, "Rightsizing Big Data for Credit Unions," draws on in-depth interviews with four credit unions across North America harnessing data to improve their organizations.

"In the absence of better-informed decision making, credit unions will continue to face challenges in remaining relevant in a highly competitive financial services industry," says Linda Young, the paper's author and founder of ponderpickle, an innovation strategy firm.

Big data can reveal important trends in managing credit and operational risk, member behavior, segmenting members, and wallet share for both new and existing members, according to Young.

Westerra Credit Union, a $1.33 billion asset institution in Denver, for example, wanted to better understand the characteristics of different credit cardholders so that it could provide more value. To do so, it partnered with a card processor to identify avid card users and learn the reasons for which members used their cards, among other trends.

By procuring this data, the credit union could then model rewards and rates that would be most beneficial to members, create a more dynamic profitability model for its credit card portfolio, and identify ways to migrate members with existing cards to cards with features better suited to their use.

"The analytical journey Westerra took to uncover meaningful benefits for its members will allow the credit union to realize increased card uptake and usage, making its cards 'front of wallet' for members," Young says.