Pen Air Federal Credit Union invests in Data analytics CUSO, OnApproach
MINNEAPOLIS, MN (January 4, 2018) — OnApproach (www.onapproach.com), the leading provider of Big Data and Analytics for credit unions, is excited to announce Pen Air Federal Credit Union (asset size: $1.39 Billion, core processor: Symitar Episys) of Pensacola, FL has invested in OnApproach, a Credit Union Service Organization (CUSO). In addition to investing, Pen Air Federal Credit Union had also selected OnApproach as its Big Data/Analytics provider in October, 2017.
Stewart Ramsey, CEO/President, Pen Air Federal Credit Union, stated, “OnApproach’s vision for the credit union industry is forward-thinking and truly one-of-a-kind. Data analytics is driving a new age for credit unions, and we are proud to support OnApproach’s goal to drive credit union analytics and revolutionize the industry. Standardized data and collaborative analytics provide real opportunities for the credit union movement, and we are happy this CUSO investment will help to make these potentially challenging feats a reality for more financial institutions.”
The traditional financial services marketplace is rapidly changing with the emergence of disruptive fintech, evolving member expectations, and greater opportunities to improve organizational decision-making. Despite the challenges, a proper data strategy presents opportunities for credit unions that cannot be ignored. Credit unions can now build deeper relationships with members, discover vital trends in member behavior, and improve financial performance by uncovering the insights held within their valuable data. Pen Air FCU’s investment in OnApproach will help to make the dream of effective reporting and even advanced analytics a reality for more credit unions.
“Credit unions cannot afford to wait to implement their data strategies. As a CUSO, we exist to help make analytics achievable and affordable for all credit unions. Our investors play a significant role in making this possible. We are very thankful for the support from Pen Air Federal Credit Union and look forward to continuing to strengthen our relationship,” stated Paul Ablack, CEO, OnApproach.
OnApproach is the only CUSO dedicated to credit union success through a collaborative analytics ecosystem. By providing a secure and frictionless data experience, OnApproach empowers credit unions to take full control of their own data and their own futures. We exist to serve the credit union movement with technology and expertise required for the digital transformation of the industry business model. OnApproach’s collaborative ecosystem enables communities of users, data scientists, and application developers focused on analytics innovation
About Pen Air Federal Credit Union
At Pen Air Federal Credit Union respect is a guiding principle. An unshakeable belief in dreams and the can-do attitudes that make them real. As the largest and oldest local credit union in Pensacola, Florida with $1.2 billion in assets, we are dedicated to enhancing lives through exceptional service, strength and financial solutions. We currently have 18 locations in Northwest Florida and Southeast Alabama, including three student-run credit unions at area high schools. We are a not-for-profit, member-owned financial institution, serving our community and improving since 1936.