Year after year, CULytics brings together credit union officials from across the country to share expertise, insights, and strategy. Regardless of the difficulties, we have committed to continuing the conversation. Credit union representatives gathered for the Data Analytics Roundtable on March 11, 2022, and engaged in fascinating discussions.

Jeff Thomas, SVP Business Intelligence at GECU, kicked off the Roundtable by setting the tone.

                                                                                       Picture: Attendees sharing their points of view at the Roundtable

Jeff shared his perspective, saying that they use AutoCount and Growlogic data for benchmarking and use the insights to gauge their maturity. With "best-in-class" market reporting, AutoCount helps them acquire quality, up-to-date information about what automobile customers are buying, where they are buying, and how the market is reacting. He also said that during pre-qualification and mortgage origination, they have access to credit report data at the county level via CoreLogic.

In a similar spirit, Raj Prasad, Redstone Federal Credit Union's SVP of Data Science and Analytics, spoke extensively on market share and wallet share.

Rick Tazelaar, VP of Strategy & Development at Clean Energy Credit Union, revealed in a later conversation that they used IXI to pull data from brokerage firms and banks across the country.

Later, Michael Benassi, Vice President of Enterprise Analytics at United Federal Credit Union, explained that the FDIC is the website where anyone can retrieve deposits from most banks' branches. They gathered data to gain a better grasp of the demographics of our members.

Conexus Credit Union's Vice President of Data and Analytics, Matt Waynert, revealed that they acquired an extract directly from TransUnion. They give TransUnion a list of all members and their contact information, and then they obtain a credit vision extract with 300 different data points.

CULytics' Founder and President, Naveen, spoke about HMDA. Many financial institutions are required by the Home Mortgage Disclosure Act (HMDA) to keep, report, and publicly publish loan-level information regarding mortgages.

Park Community Credit Union uses Melissa Data, according to Veronica Michel, Manager, Data Analytics. Melissa Data helps companies make the most of big data, legacy data, and people data (names, addresses, phone numbers, and emails).

Later, Jeff described how he created a data warehouse in the tabular format. He also said that they had signed up for a Power BI Premium membership, which includes all consumers for free and developers for $20 per user per month. Each data set weighs in at ten gigabytes. The cost of all Azure data is $5000 per month. We've updated BI premium to make it more powerful.

They are also using tableau, according to Luis Rosales, Business Intelligence Manager at Arrowhead Credit Union.

Platforms such as Tableau, PowerBI, and Salesforce, among others, have been shown to help credit unions organize and improve their data analytics operations. This report summarizes the debate and serves as a vehicle for sharing the ideas and opportunities that arose.

The hour-long discussion had interesting insights, and leaders shared specific challenges and discovered new strategies. This Roundtable had attendees from Community Resource Credit Union, GECU, Redstone Federal Credit Union, Citadel Credit Union, Clean Energy Credit Union, United Federal Credit Union, Arrowhead Credit Union, Mission Federal Credit Union, Conexus Credit Union, Georgia’s Own Credit Union, Simplicity Credit Union, Affinity Plus Credit Union, Community Choice Credit Union, Park Community Credit Union, Arsenal Credit Union, and Altra Credit Union.

If you have not had the opportunity to attend, this will be a great time to start.
Register for the upcoming Data Analytics Roundtable https://events.culytics.com/events