The Police Credit Union of California selects CU Rise Analytics for predictive modeling
VIENNA, VA (July 30, 2020) — The Police Credit Union of California, with more than 40,000 members and $1billion in assets, has chosen CU Rise Analytics’ Predictive Model Suite (CPMS) to look deep into its member life cycle to identify new opportunities at every stage, with a particular focus on retaining members. This is just the first step into an ongoing relationship The Police Credit Unionis building with CU Rise to enhance their analytical efforts and use of data science.
Anita Diaz, AVP of Digital Marketing and Business Intelligence for the Police Credit Union said, “Our ability to segment and target will be much more effective. The unexpected events of this year have reminded us of the importance of being nimble in the marketplace and CPMS will help us react faster to market change. We are particularly interested in new approaches to member attrition, which can now include proactively predicting which members may leave and initiating effective re-engagement efforts.”
CPMS is a plug-and-play application that can be made quickly operational without special preparation using a credit union’s existing member data. The subscription-based service is cost-effective for credit unions of all sizes. It synthesizes a credit union’s member data, including demographic, behavioral, transactional and relational information, building accurate predictive models to anticipate the right products for each member.
“Our validation results show that CPMS can help The Police Credit Union identify the 30% of their membership that is more likely to attrite in the coming months. The models were implemented within just a couple of months for the credit union to use as frequently as they need,” said Karan Bhalla, CEO of CU Rise Analytics.“With this information, we can then use CPMS’ product propensity module to identify the relevant servicesand offers that will bring more value to this segment of members.”
CU Rise’sCPMS product has application in every stage along the data analytics adoption curve. It provides credit unions that are new analytics adopters an entry point to predictive analytics, and others like The Police Credit Union, which are already using analytics, the opportunity to derive even greater value through highly targeted marketing campaigns.
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.