CU Rise launches CUCompare.com new tool offers credit union comparative analysis
VIENNA, VA (May 18, 2020) — Credit unions need a flexible, intelligent, and easy-to-use tool that helps them understand how they are performing against not only their peers but also the best in class. Currently available peer analysis toolsdon’t offer all of the features credit unions need for more informed decision-making, such as the ability to view essential performance metrics, perform custom queries, and save multiple searches and comparisons.
To fill the gap, CU Rise Analytics has launched a proprietary new online tool, CUCompare, which allows credit unions to ‘Compare with Confidence’. It offers CUs an easy to use method to benchmark and track performance through a variety of defined and customizable metrics, and perform national, state, and asset-band comparisons. CUCompare runs on data obtained from NCUA on all federally insured credit unions and is updated every quarter. The basic version is free to all credit unions to use however a premium subscription to the tool is also available which gives credit unions access to even more sophisticated features, functionality and comparisons.
CUCompare is powered by CU Rise’s intelligent and predictive analytics strength. While every credit union can glean insights, CU Rise CEO Karan Bhalla says the new tool is an especially good opportunity for credit unions that aren’t using data to begin exploring its value and missed potential.
“Our goal was to create a tool that was simpleand easy-to-use, butable to providevaluable information on an ongoing basis,” he said. “We believe nearly all credit unions willuncovernew information and find something of value. As we add additional functionality that value to our users will continue to grow.”
One unique feature of CUCompare isthe ability to create ‘on-the-fly’ forecasts, which projects future credit union performance based on actual trend data.
CURise plans to continue addingintelligent features. Planned future enhancements includegeo-representation of credit union branch networks, increased financial ratiosand improved forecasting with new comparison scenarios.
About CU Rise Analytics
CU Rise Analytics is a global CUSO helping credit unions leverage the power of data to better understand their members. CU Rise identifies the ideal intersections of member need and business opportunity, and provides cost-effective, actionable, manageable solutions that create high-impact results. It is a value-driven resource for data science, strategic best practices, and advisory services. Learn more at www.cu-rise.com.