Get to know members better through the use of data integration

Collateral Valuations are essential while serving members and maintaining a healthy credit union. However, credit unions are relying on inaccurate valuations of their members’ collateral values because of disintegrated data.


Members own many different kinds of vehicles. The values of their vehicles can fluctuate greatly depending on a plethora of factors.  Since vehicles are usually the second most valuable asset members own (next to their house), net worth calculations heavily depend on the value of members’ vehicles. Credit unions should begin gathering data about all their members’ vehicles and store all the history of these assets.


A house is usually the most valuable asset a member will ever own. As we saw in the Great Recession, housing values can fluctuate quickly. Housing valuations are becoming more common with companies like Zillow beginning to use statistical models to determine worth (sometimes very inaccurately due to disintegrated data). Credit unions have an advantage in valuing members’ housing (especially if they originated their mortgage) because they have historical data about all their members from many. Utilizing internal and external data sources, credit unions can sharpen their valuation of all their members’ (and potential members) homes.

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