credit union - CULytics Community2024-03-29T12:12:44Zhttps://culytics.com/blogs/feed/tag/credit%2BunionUnveiling the Hidden Impact of Confirmation Bias in Credit Unionshttps://culytics.com/blogs/hidden-impact-of-confirmation-bias-in-credit-unions2023-09-19T14:33:47.000Z2023-09-19T14:33:47.000ZNaveen Jainhttps://culytics.com/members/Naveen<div><p class="zw-paragraph heading0"><a href="{{#staticFileLink}}12227907860,RESIZE_584x{{/staticFileLink}}"><img class="align-center" src="{{#staticFileLink}}12227907860,RESIZE_584x{{/staticFileLink}}" alt="12227907860?profile=RESIZE_584x" width="568" /></a></p>
<p class="zw-paragraph heading0">In the dynamic landscape of credit unions, data-driven decision-making is essential for success. However, lurking beneath the surface of analytical insights lies a cognitive bias that can significantly impact outcomes: confirmation bias. This psychological phenomenon, where individuals tend to favor information that aligns with their preexisting beliefs, can cast a shadow on the accuracy and effectiveness of credit union strategies. In this article, we explore the realm of confirmation bias within credit unions, sharing real-life examples and shedding light on its potential pitfalls.</p>
<h2><strong>Real-Life Industry Cases:</strong></h2>
<p class="zw-paragraph heading0"><strong>Success Story:</strong> In the banking realm, Capital One embraced data analytics to optimize its credit card offerings. The bank adopted a comprehensive approach by analyzing diverse customer data points and behaviors. This included not only spending habits but also customer service interactions. By avoiding confirmation bias and seeking a holistic view, Capital One managed to successfully identify lucrative customer segments and design tailored credit card products that resonated with individual needs.</p>
<p class="zw-paragraph heading0"><strong>Failure Lesson:</strong> Wells Fargo's sales incentive program serves as a cautionary tale. The bank set aggressive sales goals for its employees, inadvertently fostering a confirmation bias that emphasized a high number of sales as an indicator of success. This led to employees opening unauthorized accounts for customers to meet targets, resulting in a massive scandal that severely tarnished the bank's reputation.</p>
<h2><strong>Mitigating Confirmation Bias:</strong></h2>
<ol>
<li>
<p class="zw-list zw-paragraph heading0"><strong>Diverse Data Exploration</strong>: Encourage teams to explore a broad spectrum of data rather than focusing solely on information that confirms existing beliefs.</p>
</li>
</ol>
<ol start="2">
<li>
<p class="zw-list zw-paragraph heading0"><strong>Cross-functional Collaboration:</strong> Involve different departments in decision-making processes to gain varied perspectives and prevent tunnel vision.</p>
</li>
</ol>
<ol start="3">
<li>
<p class="zw-list zw-paragraph heading0"><strong>Independent Review:</strong> Establish a system of checks and balances where decisions are reviewed by impartial parties to identify potential biases.</p>
</li>
</ol>
<ol start="4">
<li>
<p class="zw-list zw-paragraph heading0"><strong>Data-Driven Insights:</strong> Leverage advanced analytics tools that objectively interpret data without being influenced by human bias.</p>
</li>
</ol>
<p>In the credit union landscape, where decisions significantly impact members' financial well-being, the influence of confirmation bias is a challenge that can't be ignored. By being aware of its existence and taking deliberate steps to counteract it, credit unions can foster an environment where data-driven insights truly lead to positive outcomes for all members.</p></div>Performance Measures for Lendinghttps://culytics.com/blogs/performance-measures-for-lending2021-10-27T16:55:17.000Z2021-10-27T16:55:17.000ZHimani Jainhttps://culytics.com/members/HimaniJain<div><p><a href="{{#staticFileLink}}9748041857,RESIZE_400x{{/staticFileLink}}"><img class="align-center" src="{{#staticFileLink}}9748041857,RESIZE_400x{{/staticFileLink}}" alt="9748041857?profile=RESIZE_400x" width="400" /></a> </p>
<p>Sanctioning a loan primarily depends on two major factors - the customer's ability and their intent to pay. The most accurate Information to analyze these two factors separates successful lenders from failures and increases customer acquisition. However, it is quite challenging to capture the right Information and get appropriate insights in the absence of an appropriate mechanism.</p>
<p> The lending Analytics program enables monetary establishments to make quicker and more informed lending decisions. It also aids in the efficient management of delinquencies and comprehensive loan servicing.</p>
<p> To better understand the Lending Analytics program, a workshop was conducted by CULytics in which Bob Little, Advisor at CULytics, and Naveen Jain, CEO at CULytics, discussed measures that must align with the lending strategies of an organization. The agenda of the session comprised.</p>
<ul>
<li>The role of data analytics in the lending program</li>
<li>Practical examples of a few lending performance indicators</li>
<li>Best practices for implementing lending metrics programs to attain maximum outcomes</li>
</ul>
<p> Read out the summary of the session for more Information-</p>
<p><strong> </strong></p>
<h2><strong>Optimize lending decisions with data analytics</strong></h2>
<p>"Data is the New Oil." This metaphor in the information age is a cornerstone for successful lending programs.</p>
<p>Today, many data sources --from demographic data to transaction data to social media data- can be used by successful lenders to make lending decisions. For instance, with data analytics, lenders can analyze customer segmentation based on data sources, including debtor demographics, account activity, collections, and risk ratings, which help lending businesses greatly increase their conversion rates.</p>
<p><strong> </strong></p>
<p><strong> </strong><span style="font-size:14pt;"><strong>Management of delinquencies/fraud</strong></span></p>
<p>Sometimes, borrowers, who appear as the perfect candidate based on their past behaviors, can show erratic payment and financial behavior once their loan is approved. But this behavior jeopardizes the chances of full principal repayment along with interest, putting banks and other lending institutions in trouble. Delinquency prediction models, which use various data including past loans, transaction records, number of times a borrower had not paid in full, number of times they have gone way past the due date of payment, etc., can mitigate that. In addition, mobile app data analysis offers a continuous check on potential fraud scenarios even after a loan has been approved.</p>
<p>Thus, lenders can significantly lower their risk and take corrective actions faster by leveraging the power of data.</p>
<h2><strong>Performance metrics and why should we focus on them?</strong></h2>
<p> <a href="{{#staticFileLink}}9741739671,RESIZE_930x{{/staticFileLink}}"><img class="align-center" src="{{#staticFileLink}}9741739671,RESIZE_710x{{/staticFileLink}}" alt="9741739671?profile=RESIZE_710x" width="384" height="264" /></a></p>
<p>Performance metrics are figures and data consultants of an organization's actions, abilities, and standard quality. These can pinpoint the areas for improvement that will deliver the most significant ROI and impact profitability.</p>
<h2><strong>Common areas for lending performance metrics</strong></h2>
<p>KPIs are critical to Information on where the overall performance of your loan operation stands today, how it is trending, and what needs to change to be greater worthwhile or achieve other measures of organizational success.</p>
<p> Following are the key performance metrics-</p>
<ol>
<li><strong>Loan origination metrics</strong></li>
<li><strong>Loan servicing metrics</strong></li>
<li><strong>Default servicing metrics</strong></li>
<li><strong>Financial performance metrics</strong></li>
</ol>
<p><strong> </strong></p>
<h3> <strong>Loan origination metrics</strong></h3>
<p>It combines application, initiation, underwriting, closing, and funding</p>
<ul>
<li><strong>Average cycle time</strong> – (Sum of days from application to funding for all loans) / (# of loans funded in the same period)</li>
<li><strong>Pull-through rate</strong> – (# of funded loans) / (# of applications submitted in the same period)</li>
<li><strong>Average loan value</strong> – (Total loan volume originated) / (# of loans funded in the same period)</li>
<li><strong>Cost per unit originated</strong> – (Total business expenses) / (# of loans funded in the same period)</li>
<li><strong>Application approval rate</strong> – (# of approved applications) / (# of submitted applications)</li>
<li><strong>Incomplete application rate</strong> – (# of applications closed for incompleteness) / (# of applications received)</li>
<li><strong>Fallout rate</strong> – (# of rate locked applications that don't close) / (# of rate locked applications in the same period)</li>
<li><strong>Profit per loan</strong> – ((Total business revenue) – (Total business expense)) / (# of loans funded in the same period)</li>
<li><strong>Abandoned loan rate</strong> – (# of approved applications not funded) / (# of approved applications in the same period)</li>
<li><strong>Number of touchpoints: Consumer loan processing</strong> – (# of times staff must request Information from the Borrower before the underwriting/ Credit operations function has all documentation required to approve or deny the loan)</li>
</ul>
<h3><strong> </strong><strong>Loan servicing metrics</strong></h3>
<p>It combines payment processing, account maintenance, and escrow management.</p>
<ul>
<li><strong>Unit cost of loan servicing</strong> – (Total cost of servicing loans) / (Total # loans in servicing portfolio)</li>
<li><strong>Servicing productivity</strong> – (Total # of loans in servicing portfolio) / (# of loan servicing employees)</li>
<li><strong>Servicing issues per total loans serviced</strong> – (Total # servicing issues) / (Total # loans in servicing portfolio)</li>
<li><strong>Cross sell and upsell</strong> – (Total Value of New Loans Sold to Existing Loan Customers) / (Total # Existing Loan Customers)</li>
<li><strong>Response / Resolution time</strong> – (Total # of minutes required to complete a support task) / (Total # support tasks)</li>
<li><strong>Payments processed per payment processing employee</strong> – (Total # of loan payments processed over set time) / (Total # of loan payment processing employees)</li>
<li><strong>Payoffs processed per payment processing employee</strong> – (Total # of loan payoffs processed over set time) / (Total # of loan payment processing employees)</li>
</ul>
<h3><strong>Default servicing metrics</strong></h3>
<p>It combines loss mitigation, collections, foreclosure, and repossession</p>
<ul>
<li><strong>Successful loss mitigation completed per loss mitigation employees</strong> – (Total #r of loans successfully modified over a set time) / (Total # of loss mitigation employees)</li>
<li><strong>90+ DPD loans as a percentage of loans serviced</strong> – (Total # of loans 90 or more DPD) / (Total # of loans), as a percentage</li>
<li><strong>Non-performing loan ratio</strong> – (Total # of loans 90 or more DPD) with non-accrual status) / (Total # of loans at the same point in time), as a percentage</li>
<li><strong>Consumer loan charge-offs per consumer loan collector </strong>– (# of loans uncollectable over set time) / (Total # collectors)</li>
<li><strong>Delinquent consumer loans per collections employee</strong> – (average # past due loans) / (Total # of collections employees)</li>
<li><strong>Cycle time for debt recovery</strong> – (Time from start of collections to debt recovery) / (# successful debt recoveries)</li>
<li><strong>Unit cost: Default servicing</strong> – (Total cost of servicing loans in default) / (Total # of loans in default)</li>
<li><strong>Amount collected per collections employee</strong> – (Total dollar amount collected by the collections department over a set time) / (Total # of collections employees)</li>
</ul>
<h3><strong> </strong><strong>Financial performance measures</strong></h3>
<p>It combines profitability, liquidity, solvency, efficiency, and valuation.</p>
<ul>
<li><strong>Total consumer lending expense</strong> – Total expense incurred by consumer lending over a set time from loan origination, processing, and servicing</li>
<li><strong>Total consumer loan revenue</strong> – Total revenue generated by consumer lending over a set time from loan origination, processing, and servicing</li>
<li><strong>Consumer lending employee headcount ratio</strong> – (# of credit union employees) / (total number of consumer lending employees)</li>
<li><strong>Consumer loans closed per channel/branch </strong>– (Total # consumer loans closed over set time) / (Total # channels/branches)</li>
<li><strong>Average loan balance</strong> – (Total dollars outstanding debt) / (Total # loan accounts managed at the same point in time)</li>
<li><strong>Average consumer loan value</strong> – Average value (in dollars) of a loan over a set time</li>
<li><strong>Return on assets (ROA)</strong> – (Total dollar amount of net income) / (Total assets measured at the same point in time), as a percentage</li>
</ul>
<p><strong> </strong></p>
<h2><strong>Strategic goals</strong></h2>
<p>Good strategic goals can be made with a focused approach to the outcome. They are measurable on a sliding scale (e.g., increase x metrics from 10 to 25 or reduce y metrics from 70 to 55) instead of health metrics where the objective is to keep the metrics within a certain range. Goals are not the tactics used to deliver outcomes –programs, initiatives, or projects.</p>
<p>Strategies are about doing something different and increasing something. These depend upon the objective. Strategic Objectives as measured by (KPIs) can be achieved by:</p>
<ul>
<li><strong>Strategic objectives </strong>are qualitative and memorable descriptions of what is required to achieve. Therefore, they should be short and engaging.</li>
<li><strong>KPIs</strong>quantify the outcomes that are expected to achieve. They are measurable on a sliding scale (e.g., increase from x metrics from 10 to 25 or reduce y metrics from 70 to 55) over a period of time.</li>
<li><strong>Activities</strong>, on the other hand, are the programs, initiatives, tasks, and projects associated with achieving Objectives. They are usually binary (done or not done).</li>
</ul>
<p> </p>
<p><strong> </strong><span style="font-size:14pt;"><strong>KPIs vs Metrics</strong></span></p>
<p>Before beginning to track these, it is important to understand the difference between these two. It is imperative to know which one is strategic and which one is important.</p>
<ul>
<li>A metric is any standard of measurement. E.g.:</li>
</ul>
<ol>
<li>Number of requests logged</li>
<li>Number of data owners identified</li>
<li>Percentage of requests resolved within SLA</li>
</ol>
<ul>
<li>A Key Performance Indicator is a quantifiable metric that drives improvement and that links to strategic business outcomes</li>
<li>A KPI is a metric, but a metric is not necessarily a KPI</li>
</ul>
<p><strong><em>Proxy metrics</em></strong> are an indirect way of measuring what is required to achieve.</p>
<p><strong><em>Lagging indicators</em></strong> enable to act after the fact, whereas <strong><em>Leading indicators</em></strong> help predict future behavior and enable proactivity.</p>
<p><strong> </strong></p>
<p><span style="font-size:14pt;"><strong>Balance, Quality, and Efficiency</strong></span></p>
<p>"For every metric, there should be a paired metric that addresses adverse consequences of the first metric"- Andy Grove.</p>
<p> So, while trying to change some specific behavior, it might be backed by cost.</p>
<p>While working on achieving goals, measuring progress towards that outcome is essential to know that plans are performing as expected. So, remember that a good strategic goal focuses on an outcome. Also, Key Performance Indicators (KPIs) can be organization-wide or focus on departmental goals.</p>
<p> </p>
<p>Remember, it's all about the outcome and not the actions. So try to avoid watermelon KPIs as they are green on the outside but red inside. Instead, make smaller changes for analyzing and enjoying growth.</p>
<p> </p>
<p><strong>Watch the full workshop here</strong> - <a href="https://culytics.com/ppm-lending">https://culytics.com/ppm-lending</a></p>
<p> </p>
<p> </p>
<p> </p></div>Insights Driven Messaging: Member and Product Onboardinghttps://culytics.com/blogs/insights-driven-messaging-member-and-product-onboarding2021-08-02T15:55:16.000Z2021-08-02T15:55:16.000ZMedhavi Singlahttps://culytics.com/members/MedhaviSingla<div><p><a href="{{#staticFileLink}}9347095475,RESIZE_930x{{/staticFileLink}}"><img class="align-center" src="{{#staticFileLink}}9347095475,RESIZE_710x{{/staticFileLink}}" width="710" alt="9347095475?profile=RESIZE_710x" /></a></p>
<p>With the constantly increasing competition, it is important to not just gain but also retain members. If a new member does not engage in the initial days, it probably never will. So, to maintain a healthy member base, it is important to motivate members to use services like online and mobile banking, automatic payments, direct deposits, and more. It is the need of the hour to become their primary financial institution.</p>
<p>And, at the CULytics’ annual summit, Royce Ngiam (VP Marketing & Business Development) and Shira Spector (SVP/ Chief Data & Analytics Officer) shared their journey on Insights driven messaging for members and product onboarding.</p>
<p>The journey started last year by leveraging the data and tools to know the members, types of relationships and depth of relationship. The target was to understand how far and through what avenues strong relationships can be built. In continuation with efforts made last year, the focus is on how to communicate and serve the members.</p>
<p><strong><u>Approach: Right Message, Right Time, and Right Place</u></strong></p>
<p>Efforts have been made to evolve how members are approached, communicated, and served.</p>
<ul>
<li><strong><em>People & Partnerships:</em></strong> Target is to make tight collaboration with member service organizations to align the touchpoints with members in ways that are rooted in data and insights. The data team is in tight alignment with member services in the marketing organization to reinforce the importance of the relationship in the journey. Time has been invested to learn the processes and how to deploy insights in their transformation.</li>
<li><strong><em>Tools: </em></strong>Braze: A new member Engagement Platform. It is in combination with internal CRM. It helped a lot in engaging and communicating with members across all channels. Also, the focus is on how to optimize these channels to serve the best to the members. Marketing automation through Braze has accelerated the journey to “right message, right time, right place” through the delivery of insights-driven messaging to new members and new product onboarding.</li>
</ul>
<p><strong><u>New Member Onboarding Automation</u></strong></p>
<p>Automation has been done and the onboarding process is completed in support of welcome messages that are sent to members through emails. These emails are informative about the activation of mobile banking and other things. Such interactive emails are shared at regular intervals of time. Moreover, the focus is on making an engaging member onboarding.</p>
<p>Inputs have been made to make available <em>Multi-Channels </em>for the ease of members. <em>Balances</em> with members matter a lot as communicating the right information at the right time is quite important. As a result, it was clear that the previous Deposit Balance of $2487 increased to $4150 showing an increase of 66.85 %. And the average loan balance grew to $11242from $9981 with a 12.63% increase.</p>
<p><strong><u>Credit Card Onboarding Automation</u></strong></p>
<ul>
<li><strong><em>Key Message Beats: </em></strong>It is about making members aware of activating/ using, mobile wallet/ existing payments.</li>
<li><strong><em>Very Early Results: </em></strong>Accounts that were opened for a credit card in 2019 had average monthly transactions of 3.60. While those opened in 2020 had 3.26 and post that average monthly transactions were 10.66 (After 4 weeks live).</li>
</ul>
<p>Measure your goals and work consistently towards them. It is not necessary to be complex and accurate but the final result matters. So, when customers and members turn to you for additional services, just be happy as they are more profitable and likely to stick around. Just work on deepening the relationships. Try different things and access the best practice campaign templates and deliver tailored services and targeted offers that convert.</p></div>4 Step Iterative Process : Building A Relevant Analytics Practicehttps://culytics.com/blogs/4-step-iterative-process-building-a-relevant-analytics-practice2020-11-27T14:36:06.000Z2020-11-27T14:36:06.000ZMedhavi Singlahttps://culytics.com/members/MedhaviSingla<div><p><a href="{{#staticFileLink}}8220372885,RESIZE_930x{{/staticFileLink}}"><img class="align-center" src="{{#staticFileLink}}8220372885,RESIZE_710x{{/staticFileLink}}" width="710" alt="8220372885?profile=RESIZE_710x" /></a></p>
<p>What are the crucial steps towards building an analytics practice that will help your Credit Union perform in a manner which is relevant and progresses in a constantly changing business environment?</p>
<p>In this article, we throw light on how to build a relevant and successful analytics practice. The insights confirm to presentation by Michael Lindberg, Analytics and Business Consulting Services, Vice President, Wings Financial Credit Union, at the 5th Annual CULytics Virtual Summit.</p>
<p><strong>What will an analytics practice help you achieve?</strong></p>
<p>The best fit analytics practice will -</p>
<ul>
<li>Help you understand business strategy in a way that ensures clarity and focus of priorities.</li>
<li>Help you find and make data accessible in a useful manner, so that the end user is able to stay encouraged and own the data.</li>
<li>Provide you with stable and consistent definitions, so that truth is ensured within the organization.</li>
<li>Provide you with right time/ right place interaction so that membership is served in the best manner.</li>
<li>Provide you with an output that will enable your business strategy so that business ownership is driven.</li>
<li>Help you store data to provide scalability of business so that long term capabilities are ensured.</li>
</ul>
<p><strong>The 4 Step iterative Process </strong></p>
<p>The four-step iterative process to build a desired analytics practice is discussed below-</p>
<ul>
<li>Understand your value- The question that needs to be asked is, “How can you provide the best value to those you are serving?” The perspectives can be considered for business partners, organization and members. For Wings Financial Credit Union, the Wings Data Solution team defines their success as the success of business partners, and hence the solutions which are prioritized by business partners are delivered. Being aggressively collaborative, putting others first, are two practices which have proved to be very helpful.</li>
<li>Address the Pain – There are business partners and members who experience pain from time to time. The question that needs to be put forward is , “How do we relieve the pain?” For Wings Financial Credit Unions, doing report consolidations and taking frequent decisions based on the insights, working on report automations, are solutions that have helped them address the pain and provide value to members, business partners and within the organization as well.</li>
<li>Compound your Solution – Use time as an advantage. From an analytics practice perspective, it is important to engage in the same process for as long as possible so that long term benefits can be ensured. The question is, “In our organization, what solutions would set a path for success, 18-24 months from now?” In Wings Financial Credit Union, certified data models allow them to apply business definitions, financial validations, same business values etc., from which all of the data is then applied in reports, analytics, and various value providing services. This saves time and energy of having to revalidate all reports every time. If the business definition changes, it can be quickly addressed in one place. Different solutions are compounded into one or more certified models.</li>
<li>Transform your Vision- The next opportunities are not the same as the current, so as we engage with business partners, members, and our own rganization, the vision transforms with it. The analytics practice needs to move with the vision and there has to be a way to ensure consistency. For example- Wings Financial Credit Union ensures that they are delivering on a just cause. This begins with understanding and delivering member value, and then scaling the business process by using analytics to ensure that right action is taken at the right place and time.</li>
</ul>
<p>A relevant analytics practice within your organization helps you store, manage, and use updated data and take meaningful decisions which are impactful at all levels. No successful practice can be built within a day. To stay relevant, consistency is a mandate.</p></div>Top 30 CUs with Highest and Lowest New Loan Balances per Branch (Jun-2020)https://culytics.com/blogs/highest-and-lowest-new-loan-balances-per-branch-as-of-jun-20202020-10-15T21:57:37.000Z2020-10-15T21:57:37.000ZMedhavi Singlahttps://culytics.com/members/MedhaviSingla<div><p>How many members of your credit union are applying for the new loans? What is the average net new loan amount per branch?</p>
<p>Check out this list of the top credit unions with the highest and lowest new loan balances per branch. The report is based on the NCUA Data for the second quarter of 2020 (June 2020). The credit unions taken into consideration are those with asset size of more than $1B and more than 10 branches.</p>
<p>Here is the list of Top 30 CUs with the highest new loan balances per branch.</p>
<table style="width:830px;" width="977">
<tbody>
<tr>
<td style="text-align:center;width:36px;" width="64"><strong>S.No.</strong></td>
<td style="text-align:center;width:209px;" width="256"><strong>CU Name</strong></td>
<td style="text-align:center;width:193px;" width="251"><strong>URL </strong></td>
<td style="text-align:center;width:81px;" width="52"><strong>State</strong></td>
<td style="text-align:center;width:81px;" width="87"><strong>Total Assets</strong></td>
<td style="text-align:center;width:81px;" width="132"><strong>Total No of Branches</strong></td>
<td style="text-align:center;width:149px;" width="135"><strong>New Loan Account Balances per Branch</strong></td>
</tr>
<tr>
<td style="text-align:center;width:36px;">1</td>
<td style="text-align:center;width:209px;">Pentagon Federal Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://www.penfed.org/">http://www.penfed.org</a></td>
<td style="text-align:center;width:81px;">VA</td>
<td style="text-align:center;width:81px;">$25.93B</td>
<td style="text-align:center;width:81px;">51</td>
<td style="text-align:center;width:149px;">$402.13M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">2</td>
<td style="text-align:center;width:209px;">First Technology Federal Credit Union</td>
<td style="text-align:center;width:193px;"><a href="https://www.firsttechfed.com/">https://www.firsttechfed.com/</a></td>
<td style="text-align:center;width:81px;">CA</td>
<td style="text-align:center;width:81px;">$14.41B</td>
<td style="text-align:center;width:81px;">26</td>
<td style="text-align:center;width:149px;">$349.35M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">3</td>
<td style="text-align:center;width:209px;">Logix Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://www.logixbanking.com/">http://www.logixbanking.com</a></td>
<td style="text-align:center;width:81px;">CA</td>
<td style="text-align:center;width:81px;">$7.19B</td>
<td style="text-align:center;width:81px;">17</td>
<td style="text-align:center;width:149px;">$322.55M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">4</td>
<td style="text-align:center;width:209px;">Digital Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://www.dcu.org/">http://www.dcu.org</a></td>
<td style="text-align:center;width:81px;">MA</td>
<td style="text-align:center;width:81px;">$10.39B</td>
<td style="text-align:center;width:81px;">23</td>
<td style="text-align:center;width:149px;">$307.79M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">5</td>
<td style="text-align:center;width:209px;">Northwest Federal Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://www.nwfcu.org/">http://www.nwfcu.org</a></td>
<td style="text-align:center;width:81px;">VA</td>
<td style="text-align:center;width:81px;">$4.01B</td>
<td style="text-align:center;width:81px;">11</td>
<td style="text-align:center;width:149px;">$284.03M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">6</td>
<td style="text-align:center;width:209px;">Navy Federal Credit Union Credit Union</td>
<td style="text-align:center;width:193px;"><a href="https://www.navyfcu.org/">https://www.navyfcu.org</a></td>
<td style="text-align:center;width:81px;">VA</td>
<td style="text-align:center;width:81px;">$128.53B</td>
<td style="text-align:center;width:81px;">327</td>
<td style="text-align:center;width:149px;">$256.06M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">7</td>
<td style="text-align:center;width:209px;">Technology Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://www.techcu.com/">http://www.techcu.com</a></td>
<td style="text-align:center;width:81px;">CA</td>
<td style="text-align:center;width:81px;">$3.39B</td>
<td style="text-align:center;width:81px;">10</td>
<td style="text-align:center;width:149px;">$247.95M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">8</td>
<td style="text-align:center;width:209px;">Police & Fire Federal Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://www.pffcu.org/">http://www.pffcu.org</a></td>
<td style="text-align:center;width:81px;">PA</td>
<td style="text-align:center;width:81px;">$6.31B</td>
<td style="text-align:center;width:81px;">17</td>
<td style="text-align:center;width:149px;">$242.65M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">9</td>
<td style="text-align:center;width:209px;">Redwood Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://www.redwoodcu.org/">http://www.redwoodcu.org</a></td>
<td style="text-align:center;width:81px;">CA</td>
<td style="text-align:center;width:81px;">$5.69B</td>
<td style="text-align:center;width:81px;">18</td>
<td style="text-align:center;width:149px;">$239.02M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">10</td>
<td style="text-align:center;width:209px;">Boeing Employees Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://www.becu.org/">http://www.becu.org</a></td>
<td style="text-align:center;width:81px;">WA</td>
<td style="text-align:center;width:81px;">$24.75B</td>
<td style="text-align:center;width:81px;">59</td>
<td style="text-align:center;width:149px;">$238.15M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">11</td>
<td style="text-align:center;width:209px;">Greenstate Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://greenstate.org/">http://greenstate.org</a></td>
<td style="text-align:center;width:81px;">IA</td>
<td style="text-align:center;width:81px;">$6.66B</td>
<td style="text-align:center;width:81px;">27</td>
<td style="text-align:center;width:149px;">$214.19M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">12</td>
<td style="text-align:center;width:209px;">Schoolsfirst Federal Credit Union</td>
<td style="text-align:center;width:193px;"><a href="https://www.schoolsfirstfcu.org/">https://www.schoolsfirstfcu.org</a></td>
<td style="text-align:center;width:81px;">CA</td>
<td style="text-align:center;width:81px;">$21.62B</td>
<td style="text-align:center;width:81px;">59</td>
<td style="text-align:center;width:149px;">$197.69M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">13</td>
<td style="text-align:center;width:209px;">Michigan State University Federal Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://www.msufcu.org/">http://www.msufcu.org</a></td>
<td style="text-align:center;width:81px;">MI</td>
<td style="text-align:center;width:81px;">$5.38B</td>
<td style="text-align:center;width:81px;">20</td>
<td style="text-align:center;width:149px;">$196.90M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">14</td>
<td style="text-align:center;width:209px;">General Electric Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://www.gecreditunion.org/">http://www.gecreditunion.org</a></td>
<td style="text-align:center;width:81px;">OH</td>
<td style="text-align:center;width:81px;">$3.67B</td>
<td style="text-align:center;width:81px;">15</td>
<td style="text-align:center;width:149px;">$192.27M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">15</td>
<td style="text-align:center;width:209px;">Delta Community Credit Union</td>
<td style="text-align:center;width:193px;"><a href="https://www.deltacommunitycu.com/">https://www.deltacommunitycu.com</a></td>
<td style="text-align:center;width:81px;">GA</td>
<td style="text-align:center;width:81px;">$7.03B</td>
<td style="text-align:center;width:81px;">26</td>
<td style="text-align:center;width:149px;">$187.89M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">16</td>
<td style="text-align:center;width:209px;">Connexus Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://www.connexuscu.org/">http://www.connexuscu.org</a></td>
<td style="text-align:center;width:81px;">WI</td>
<td style="text-align:center;width:81px;">$2.97B</td>
<td style="text-align:center;width:81px;">14</td>
<td style="text-align:center;width:149px;">$186.09M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">17</td>
<td style="text-align:center;width:209px;">Bethpage Federal Credit Union</td>
<td style="text-align:center;width:193px;"><a href="https://www.bethpagefcu.com/">https://www.bethpagefcu.com</a></td>
<td style="text-align:center;width:81px;">NY</td>
<td style="text-align:center;width:81px;">$9.97B</td>
<td style="text-align:center;width:81px;">36</td>
<td style="text-align:center;width:149px;">$185.22M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">18</td>
<td style="text-align:center;width:209px;">Nasa Federal Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://www.nasafcu.com/">http://www.nasafcu.com</a></td>
<td style="text-align:center;width:81px;">MD</td>
<td style="text-align:center;width:81px;">$3.31B</td>
<td style="text-align:center;width:81px;">13</td>
<td style="text-align:center;width:149px;">$184.02M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">19</td>
<td style="text-align:center;width:209px;">Pennsylvania State Employees Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://www.psecu.com/">http://www.psecu.com</a></td>
<td style="text-align:center;width:81px;">PA</td>
<td style="text-align:center;width:81px;">$7.07B</td>
<td style="text-align:center;width:81px;">26</td>
<td style="text-align:center;width:149px;">$177.18M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">20</td>
<td style="text-align:center;width:209px;">Credit Human Credit Union</td>
<td style="text-align:center;width:193px;"><a href="https://www.credithuman.com/">https://www.credithuman.com</a></td>
<td style="text-align:center;width:81px;">TX</td>
<td style="text-align:center;width:81px;">$3.43B</td>
<td style="text-align:center;width:81px;">17</td>
<td style="text-align:center;width:149px;">$175.69M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">21</td>
<td style="text-align:center;width:209px;">Bellco Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://www.bellco.org/">http://www.bellco.org</a></td>
<td style="text-align:center;width:81px;">CO</td>
<td style="text-align:center;width:81px;">$5.57B</td>
<td style="text-align:center;width:81px;">24</td>
<td style="text-align:center;width:149px;">$175.22M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">22</td>
<td style="text-align:center;width:209px;">Kinecta Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://www.kinecta.org/">http://www.kinecta.org</a></td>
<td style="text-align:center;width:81px;">CA</td>
<td style="text-align:center;width:81px;">$5.06B</td>
<td style="text-align:center;width:81px;">23</td>
<td style="text-align:center;width:149px;">$170.19M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">23</td>
<td style="text-align:center;width:209px;">Teachers Federal Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://www.teachersfcu.org/">http://www.teachersfcu.org</a></td>
<td style="text-align:center;width:81px;">NY</td>
<td style="text-align:center;width:81px;">$8.13B</td>
<td style="text-align:center;width:81px;">30</td>
<td style="text-align:center;width:149px;">$168.70M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">24</td>
<td style="text-align:center;width:209px;">Citizens Equity First Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://www.cefcu.com/">http://www.cefcu.com</a></td>
<td style="text-align:center;width:81px;">IL</td>
<td style="text-align:center;width:81px;">$6.79B</td>
<td style="text-align:center;width:81px;">29</td>
<td style="text-align:center;width:149px;">$164.34M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">25</td>
<td style="text-align:center;width:209px;">Eastman Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://www.ecu.org/">http://www.ecu.org</a></td>
<td style="text-align:center;width:81px;">TN</td>
<td style="text-align:center;width:81px;">$5.68B</td>
<td style="text-align:center;width:81px;">29</td>
<td style="text-align:center;width:149px;">$163.35M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">26</td>
<td style="text-align:center;width:209px;">Navy Army Community Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://www.navyarmyccu.com/">http://www.navyarmyccu.com</a></td>
<td style="text-align:center;width:81px;">TX</td>
<td style="text-align:center;width:81px;">$3.53B</td>
<td style="text-align:center;width:81px;">19</td>
<td style="text-align:center;width:149px;">$159.39M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">27</td>
<td style="text-align:center;width:209px;">San Diego County Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://www.sdccu.com/">http://www.sdccu.com</a></td>
<td style="text-align:center;width:81px;">CA</td>
<td style="text-align:center;width:81px;">$9.28B</td>
<td style="text-align:center;width:81px;">39</td>
<td style="text-align:center;width:149px;">$159.03M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">28</td>
<td style="text-align:center;width:209px;">Capital Communications Federal Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://www.capcomfcu.org/">http://www.capcomfcu.org</a></td>
<td style="text-align:center;width:81px;">NY</td>
<td style="text-align:center;width:81px;">$2.15B</td>
<td style="text-align:center;width:81px;">12</td>
<td style="text-align:center;width:149px;">$152.63M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">29</td>
<td style="text-align:center;width:209px;">Jovia Financial Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://www.joviafinancial.com/">http://www.joviafinancial.com</a></td>
<td style="text-align:center;width:81px;">NY</td>
<td style="text-align:center;width:81px;">$3.74B</td>
<td style="text-align:center;width:81px;">19</td>
<td style="text-align:center;width:149px;">$149.72M</td>
</tr>
<tr>
<td style="text-align:center;width:36px;">30</td>
<td style="text-align:center;width:209px;">Tower Federal Credit Union</td>
<td style="text-align:center;width:193px;"><a href="http://towerfcu.org/">http://towerfcu.org</a></td>
<td style="text-align:center;width:81px;">MD</td>
<td style="text-align:center;width:81px;">$3.59B</td>
<td style="text-align:center;width:81px;">17</td>
<td style="text-align:center;width:149px;">$148.18M</td>
</tr>
</tbody>
</table>
<p> </p>
<p>Here is the list of Top 30 CUs with the lowest new loan balances per branch.</p>
<table style="width:873px;" width="1109">
<tbody>
<tr>
<td style="text-align:center;width:52px;" width="52"><strong>S.No.</strong></td>
<td style="text-align:center;width:235px;" width="326"><strong>CU Name</strong></td>
<td style="text-align:center;width:152px;" width="219"><strong>URL </strong></td>
<td style="text-align:center;width:78px;" width="64"><strong>State</strong></td>
<td style="text-align:center;width:104px;" width="130"><strong>Total Assets</strong></td>
<td style="text-align:center;width:120px;" width="135"><strong>Total No of Branches</strong></td>
<td style="text-align:center;width:132px;" width="183"><strong>New Loan Account Balances per Branch</strong></td>
</tr>
<tr>
<td style="text-align:center;width:52px;">1</td>
<td style="text-align:center;width:235px;">Alabama Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.alabamacu.com/">http://www.alabamacu.com</a></td>
<td style="text-align:center;width:78px;">AL</td>
<td style="text-align:center;width:104px;">$1.08B</td>
<td style="text-align:center;width:120px;">32</td>
<td style="text-align:center;width:132px;">$19.88M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">2</td>
<td style="text-align:center;width:235px;">Allsouth Credit Union </td>
<td style="text-align:center;width:152px;"><a href="https://www.allsouth.org/">https://www.allsouth.org</a></td>
<td style="text-align:center;width:78px;">SC</td>
<td style="text-align:center;width:104px;">$1.01B</td>
<td style="text-align:center;width:120px;">23</td>
<td style="text-align:center;width:132px;">$23.35M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">3</td>
<td style="text-align:center;width:235px;">Self Help Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.self-help.org/">http://www.self-help.org</a></td>
<td style="text-align:center;width:78px;">NC</td>
<td style="text-align:center;width:104px;">$1.23B</td>
<td style="text-align:center;width:120px;">35</td>
<td style="text-align:center;width:132px;">$23.51M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">4</td>
<td style="text-align:center;width:235px;">Directions Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.directionscu.org/">http://www.directionscu.org</a></td>
<td style="text-align:center;width:78px;">OH</td>
<td style="text-align:center;width:104px;">$1.02B</td>
<td style="text-align:center;width:120px;">30</td>
<td style="text-align:center;width:132px;">$24.69M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">5</td>
<td style="text-align:center;width:235px;">Michigan First Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.michiganfirst.com/">http://www.michiganfirst.com</a></td>
<td style="text-align:center;width:78px;">MI</td>
<td style="text-align:center;width:104px;">$1.23B</td>
<td style="text-align:center;width:120px;">29</td>
<td style="text-align:center;width:132px;">$25.51M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">6</td>
<td style="text-align:center;width:235px;">Red River Employees Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.rrfcu.com/">http://www.rrfcu.com</a></td>
<td style="text-align:center;width:78px;">TX</td>
<td style="text-align:center;width:104px;">$1.09B</td>
<td style="text-align:center;width:120px;">29</td>
<td style="text-align:center;width:132px;">$26.63M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">7</td>
<td style="text-align:center;width:235px;">S. C. State Credit Union </td>
<td style="text-align:center;width:152px;"><a href="https://www.scscu.com/">https://www.scscu.com</a></td>
<td style="text-align:center;width:78px;">SC</td>
<td style="text-align:center;width:104px;">$1.02B</td>
<td style="text-align:center;width:120px;">20</td>
<td style="text-align:center;width:132px;">$26.95M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">8</td>
<td style="text-align:center;width:235px;">One Nevada Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.onenevada.org/">http://www.onenevada.org</a></td>
<td style="text-align:center;width:78px;">NV</td>
<td style="text-align:center;width:104px;">$1.09B</td>
<td style="text-align:center;width:120px;">16</td>
<td style="text-align:center;width:132px;">$28.22M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">9</td>
<td style="text-align:center;width:235px;">First Community Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.myfirstccu.org/">http://www.myfirstccu.org</a></td>
<td style="text-align:center;width:78px;">OR</td>
<td style="text-align:center;width:104px;">$1.31B</td>
<td style="text-align:center;width:120px;">28</td>
<td style="text-align:center;width:132px;">$28.42M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">10</td>
<td style="text-align:center;width:235px;">University Of Va Community Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.uvacreditunion.org/">http://www.uvacreditunion.org</a></td>
<td style="text-align:center;width:78px;">VA</td>
<td style="text-align:center;width:104px;">$1.13B</td>
<td style="text-align:center;width:120px;">20</td>
<td style="text-align:center;width:132px;">$29.03M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">11</td>
<td style="text-align:center;width:235px;">Superior Credit Union, Inc</td>
<td style="text-align:center;width:152px;"><a href="http://www.superiorcu.com/">http://www.superiorcu.com</a></td>
<td style="text-align:center;width:78px;">OH</td>
<td style="text-align:center;width:104px;">$1.19B</td>
<td style="text-align:center;width:120px;">25</td>
<td style="text-align:center;width:132px;">$29.50M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">12</td>
<td style="text-align:center;width:235px;">Credit Union 1 </td>
<td style="text-align:center;width:152px;"><a href="https://www.creditunion1.org/">https://www.creditunion1.org/</a></td>
<td style="text-align:center;width:78px;">IL</td>
<td style="text-align:center;width:104px;">$1.12B</td>
<td style="text-align:center;width:120px;">21</td>
<td style="text-align:center;width:132px;">$29.62M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">13</td>
<td style="text-align:center;width:235px;">Northrop Grumman Federal Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.ngfcu.us/">http://www.ngfcu.us</a></td>
<td style="text-align:center;width:78px;">CA</td>
<td style="text-align:center;width:104px;">$1.35B</td>
<td style="text-align:center;width:120px;">26</td>
<td style="text-align:center;width:132px;">$31.37M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">14</td>
<td style="text-align:center;width:235px;">Horizon Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.hzcu.org/">http://www.hzcu.org</a></td>
<td style="text-align:center;width:78px;">WA</td>
<td style="text-align:center;width:104px;">$1.21B</td>
<td style="text-align:center;width:120px;">31</td>
<td style="text-align:center;width:132px;">$31.45M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">15</td>
<td style="text-align:center;width:235px;">Operating Engineers Local Federal Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://oefcu.org/">http://oefcu.org</a></td>
<td style="text-align:center;width:78px;">CA</td>
<td style="text-align:center;width:104px;">$1.23B</td>
<td style="text-align:center;width:120px;">25</td>
<td style="text-align:center;width:132px;">$31.96M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">16</td>
<td style="text-align:center;width:235px;">Dfcu Financial Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.dfcufinancial.com/">http://www.dfcufinancial.com</a></td>
<td style="text-align:center;width:78px;">MI</td>
<td style="text-align:center;width:104px;">$5.52B</td>
<td style="text-align:center;width:120px;">29</td>
<td style="text-align:center;width:132px;">$32.60M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">17</td>
<td style="text-align:center;width:235px;">Goldenwest Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.gwcu.org/">http://www.gwcu.org</a></td>
<td style="text-align:center;width:78px;">UT</td>
<td style="text-align:center;width:104px;">$2.02B</td>
<td style="text-align:center;width:120px;">42</td>
<td style="text-align:center;width:132px;">$34.49M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">18</td>
<td style="text-align:center;width:235px;">Aloha Pacific Credit Union </td>
<td style="text-align:center;width:152px;"><a href="https://alohapacific.com/">https://alohapacific.com</a></td>
<td style="text-align:center;width:78px;">HI</td>
<td style="text-align:center;width:104px;">$1.07B</td>
<td style="text-align:center;width:120px;">17</td>
<td style="text-align:center;width:132px;">$35.28M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">19</td>
<td style="text-align:center;width:235px;">Honor Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.honorcu.com/">http://www.honorcu.com</a></td>
<td style="text-align:center;width:78px;">MI</td>
<td style="text-align:center;width:104px;">$1.15B</td>
<td style="text-align:center;width:120px;">23</td>
<td style="text-align:center;width:132px;">$36.23M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">20</td>
<td style="text-align:center;width:235px;">Barksdale Federal Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.bfcu.org/">http://www.bfcu.org</a></td>
<td style="text-align:center;width:78px;">LA</td>
<td style="text-align:center;width:104px;">$1.66B</td>
<td style="text-align:center;width:120px;">25</td>
<td style="text-align:center;width:132px;">$36.44M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">21</td>
<td style="text-align:center;width:235px;">Arrowhead Central Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.arrowheadcu.org/">http://www.arrowheadcu.org</a></td>
<td style="text-align:center;width:78px;">CA</td>
<td style="text-align:center;width:104px;">$1.78B</td>
<td style="text-align:center;width:120px;">19</td>
<td style="text-align:center;width:132px;">$37.15M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">22</td>
<td style="text-align:center;width:235px;">Palmetto Citizens Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.palmettocitizens.org/">http://www.palmettocitizens.org</a></td>
<td style="text-align:center;width:78px;">SC</td>
<td style="text-align:center;width:104px;">$1.06B</td>
<td style="text-align:center;width:120px;">15</td>
<td style="text-align:center;width:132px;">$38.10M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">23</td>
<td style="text-align:center;width:235px;">Franklin Mint Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.fmfcu.org/">http://www.fmfcu.org</a></td>
<td style="text-align:center;width:78px;">PA</td>
<td style="text-align:center;width:104px;">$1.37B</td>
<td style="text-align:center;width:120px;">26</td>
<td style="text-align:center;width:132px;">$39.04M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">24</td>
<td style="text-align:center;width:235px;">Self-Help Federal Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.self-helpfcu.org/">http://www.self-helpfcu.org</a></td>
<td style="text-align:center;width:78px;">NC</td>
<td style="text-align:center;width:104px;">$1.45B</td>
<td style="text-align:center;width:120px;">30</td>
<td style="text-align:center;width:132px;">$39.47M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">25</td>
<td style="text-align:center;width:235px;">Srp Federal Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.srpfcu.org/">http://www.srpfcu.org</a></td>
<td style="text-align:center;width:78px;">SC</td>
<td style="text-align:center;width:104px;">$1.30B</td>
<td style="text-align:center;width:120px;">18</td>
<td style="text-align:center;width:132px;">$41.31M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">26</td>
<td style="text-align:center;width:235px;">Vibe Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.vibecu.com/">http://www.vibecu.com</a></td>
<td style="text-align:center;width:78px;">MI</td>
<td style="text-align:center;width:104px;">$1.02B</td>
<td style="text-align:center;width:120px;">16</td>
<td style="text-align:center;width:132px;">$41.82M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">27</td>
<td style="text-align:center;width:235px;">First Florida Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.firstflorida.org/">http://www.firstflorida.org</a></td>
<td style="text-align:center;width:78px;">FL</td>
<td style="text-align:center;width:104px;">$1.15B</td>
<td style="text-align:center;width:120px;">16</td>
<td style="text-align:center;width:132px;">$42.15M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">28</td>
<td style="text-align:center;width:235px;">Iq Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.iqcu.com/">http://www.iqcu.com</a></td>
<td style="text-align:center;width:78px;">WA</td>
<td style="text-align:center;width:104px;">$1.40B</td>
<td style="text-align:center;width:120px;">24</td>
<td style="text-align:center;width:132px;">$42.66M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">29</td>
<td style="text-align:center;width:235px;">Verve, A Credit Union </td>
<td style="text-align:center;width:152px;"><a href="https://www.verveacu.com/">https://www.verveacu.com</a></td>
<td style="text-align:center;width:78px;">WI</td>
<td style="text-align:center;width:104px;">$1.41B</td>
<td style="text-align:center;width:120px;">20</td>
<td style="text-align:center;width:132px;">$42.70M</td>
</tr>
<tr>
<td style="text-align:center;width:52px;">30</td>
<td style="text-align:center;width:235px;">Unify Financial Credit Union </td>
<td style="text-align:center;width:152px;"><a href="http://www.unifyfcu.com/">http://www.unifyfcu.com</a></td>
<td style="text-align:center;width:78px;">CA</td>
<td style="text-align:center;width:104px;">$3.28B</td>
<td style="text-align:center;width:120px;">59</td>
<td style="text-align:center;width:132px;">$42.87M</td>
</tr>
</tbody>
</table>
<p> </p>
<p> </p>
<p>Of course, there are some caveats in the data here. E.g.</p>
<ul>
<li>Call 5300 report does not report how many loans were originated from channels other than branches - e.g. via call center, digital, etc.</li>
<li>For some Credit Unions, some of their branches are one or two-person offices. They might not be open to the public and many of them do not originate loans.</li>
<li>Branches are supposed to help drive membership and loans in the community. All the credit unions got impacted due to COVID and we see that most of the CUs in the bottom tier and the top tier were in that tier even before COVID.</li>
</ul>
<p>Are your credit union branches contributing enough in driving new membership and new loans? If yes, then what is the root cause and what are you planning to do in 2021 to overcome this challenge.</p>
<p> </p></div>Three Things That Go Wrong with Data Reportshttps://culytics.com/blogs/three-things-that-go-wrong-with-data-reports2018-08-19T18:15:05.000Z2018-08-19T18:15:05.000ZRichard Joneshttps://culytics.com/members/RichardJones<div><p><span style="font-weight: 400;"><a href="https://storage.ning.com/topology/rest/1.0/file/get/72877577?profile=original" target="_blank" rel="noopener"><img class="align-full" src="https://storage.ning.com/topology/rest/1.0/file/get/72877577?profile=RESIZE_710x" width="710"/></a></span></p><p><span style="font-weight: 400;">A consistent issue most credit unions have is the lack of consistency from one report to the next. To diagnose why this inconsistency exists we should look first at these three elements of the report:</span></p><ol><li style="font-weight: 400;"><strong>Timing</strong> <span style="font-weight: 400;">- two reports run at two different end times or interval times will tell different stories. But it’s not that simple. If the report writer is aggregating reports from different sources, part of the data comes from the core and part from your loan origination system, you will find the timing between these two reports are often not in sync.</span></li><li style="font-weight: 400;"><strong>Query</strong> <span style="font-weight: 400;">- the logic used to create the reports can be different. When you are working with greater than, great than and equal to, equal to, less than and equal to, and less than, and all of the other query elements, there is a potential for error.</span></li><li style="font-weight: 400;"><strong>Definitions</strong> <span style="font-weight: 400;">- how the subject of the report is defined can change the report outcomes. Something as simple as, “What is your member number?” can be corrupted based upon the definition of a member. If one report uses a member definition of “a unique social security number above par in their membership share account” and another report defines a member as “a unique social security number” the results of the report are going to be different. This is also complicated by the reality that different software programs the credit union uses will have different names for the same elements. One software will refer to a member as a member, another will call a member an account, etc. There is a need to normalize the language differences between the variety of software providers.</span></li></ol><p><span style="font-weight: 400;">As a credit union begins the journey to utilize more data and analytics for planning an decisionmaking, it becomes necessary to conduct a series of projects designed to collect, aggregate, normalize, and make accessible.</span></p><p><strong>Collecting</strong> <span style="font-weight: 400;">data is easy and hard depending on the source. It can require special code to be written to extract the code from the software. It can require the payment of API access to the data.</span></p><p><strong>Aggregating</strong> <span style="font-weight: 400;">requires a data warehouse or a data lake to store the data. The solution a credit union chooses is not as simple as just buying a data warehouse or data lake from your core system provider or a third party, it is an intentional decision driven by the ability to the data warehouse or lake to aggregate data from most if not all of your data sources. When a $500M+ credit union has 40 or more third party data sources, this is not an easy decision and most credit unions have found the investment into a consultant that can help evaluate the options and make recommendations with a strength an weakness analysis of each of the options. There are typically several projects involved in aggregating data from these varied sources.</span></p><p><strong>Normalization</strong> <span style="font-weight: 400;">of the data needs to be part of the aggregation projects. In aggregation, the credit union is moving source data from one field with a specific name into another field in a different software. The differences in the naming protocols must be understood so we can make all of the different names for a data source consistent. If the credit union just move field A into field B, the names will not be reconciled and report inconsistencies will persist.</span></p><p><strong>Accessibility</strong> <span style="font-weight: 400;">of data does not happen automatically. To make accessibility a reality, the credit union must have a tool or a domain that allows data to be accessed across the organization. But accessibility also requires that the data, queries, and definitions be governed. A credit union has checks and balances on their deposits and cash flow, they also need checks and balances on how data is being extracted and reported upon. If we just give “unfettered” access to data without these checks and balances, there is a significant risk in reports being generated with the sole purpose of supporting a predetermined outcome, the trustworthiness of data is lost.</span></p><p><span style="font-weight: 400;">Data’s primary roles in a credit union are to:</span></p><ol><li style="font-weight: 400;"><span style="font-weight: 400;">Understand what has happened</span></li><li style="font-weight: 400;"><span style="font-weight: 400;">Understand why it happened</span></li><li style="font-weight: 400;"><span style="font-weight: 400;">Understand what can be done to change the future</span></li><li style="font-weight: 400;"><span style="font-weight: 400;">Understand how data can help to predict the future (artificial intelligence - AI)</span></li><li style="font-weight: 400;"><span style="font-weight: 400;">Understand how data can help design the future (machine learning)</span></li></ol><p><span style="font-weight: 400;">For credit unions to be successful in the future, they need to see data as an organizational asset that needs to be collected, normalized, analyzed, and accessible. This aspirational goal takes time, focus, discipline, and commitment.</span></p><p> </p></div>Why Analytics Doesn't Make a Difference - Gary Angelhttps://culytics.com/blogs/why-analytics-doesn-t-make-a-difference-by-gary-angel2018-04-01T16:23:53.000Z2018-04-01T16:23:53.000ZMedhavi Singlahttps://culytics.com/members/MedhaviSingla<div><p>Organizations that invest in analytics don’t always see the returns they expect.That isn’t because the analytics they do is bad. It’s surprisingly challenging to take even good analytics and use it to drive organizational change. People often blame culture for that problem, and they’re right. But culture is notoriously hard to change.</p>
<p>Watch this video by Gary Angel, CEO & Founder, Digital Mortar, that focuses on a different kind of look at the analytics lifecycle to show how organizations often miss opportunities to do analytics that will actually make a difference. It shows how to make analytics more strategic, more customer-focused, and more germane to executive interests.</p>
<div class="embedcon"><iframe src="https://www.youtube.com/embed/-oC3W5tkJiQ?feature=oembed&showinfo=0" frameborder="0" width="100%" height="600" allowfullscreen="allowfullscreen"></iframe></div>
</div>Data/Analytics Opportunities in Credit Union businesshttps://culytics.com/blogs/data-analytics-opportunities-in-credit-union-business2017-06-25T02:26:31.000Z2017-06-25T02:26:31.000ZNaveen Jainhttps://culytics.com/members/Naveen<div><p>In our changing and uncertain world, it is more evident than ever that the long-term success of our credit unions depends on transforming how we operate, engage with our members and delight them with our products and experiences. </p>
<p dir="ltr"><span>Data is a powerful catalyst for digital transformation. Credit unions have very rich data available to them as a result of the footprint that members leave behind at the digital, retail and other channel interactions. When this data is properly managed, then it can be leveraged to better understand members, improve overall business function, and achieve better returns on any investment.</span></p>
<p dir="ltr"><span>With appropriate focus on right technology, processes and people training, data can be incorporated into everyday business and can transform the success of any credit union. Data can provide us an edge in competing with deep pockets of big banks by reducing cost and improving outcomes.</span></p>
<p dir="ltr"><span>Recently, I have been cataloging various opportunities that exists in various business functions across the organization to drive discussions and engagements. Here is the draft mind map. This map is by no means exhaustive and I believe it is just scratching the surface and the opportunities exists through out the organization, in each and every business function.</span></p>
<p dir="ltr"><span><a href="http://storage.ning.com/topology/rest/1.0/file/get/2160987?profile=original" target="_self"><img src="http://storage.ning.com/topology/rest/1.0/file/get/2160987?profile=RESIZE_1024x1024" width="750" class="align-full"></a></span></p>
<p dir="ltr"></p>
<p dir="ltr"></p>
<p><a href="http://storage.ning.com/topology/rest/1.0/file/get/2160996?profile=original" target="_self">Analytics Opportunities.xmind</a></p></div>