Our Community Credit Union (OCCU), a $400 million credit union based in Washington state is CU Rise Analytics’ latest client to harness the power of data and analytics through its highly-effective Predictive Model Suite.
Today, credit unions operate in a landscape dramatically impacted by technology. Customer expectations are rapidly evolving, and deep analysis of the ever-growing amount of data is a crucial strategy for credit unions that want to understand members’ needs and behaviors, and proactively respond in targeted, effective ways.
Bert Fisher, CEO of OCCU was impressed with CU Rise’s ability to help them effectively target efforts with the most return. “CU Rise analyzed last year’s member attrition data in the Predictive Model Suite and revealed the ways we could have more narrowly focused our efforts. We immediately realized that this not only provides huge cost-savings, but we expect to get better results from more targeted efforts. This is a big step in our analytics evolution and we expect CU Rise to be a crucial partner at each step.”
Currently, the Predictive Model Suite includes a set of ready-to-use models along with the option to custom build additional models built around OCCU’s specific needs. The suite synthesizes a multitude of factors drawn from the members’ demographics details, behavioral traits, transactional history and relationship with credit union to generate easily-actionable intelligence, reports and lists.
“Credit unions are growing in their understanding that they must gather strategic insights from their data in order to remain competitive – and, they are happy to learn it can be accomplished with methods that don’t strain their time or financial resources,” said Karan Bhalla, CEO of CU Rise Analytics. “We develop products and services specifically to deliver powerful results with minimal set-up.”
Because of the overwhelmingly positive response, CU Rise Analytics continues to add more modules to its Predictive Model Suite.The Predictive Model Suite is also available as a subscription-based service through CU Rise Analytics’ partner Trellance (formerly OnApproach) M360 Enterprise, which enables credit unions to integrate all of their data into a single source of truth.