The Decision Maker

Leveraging Data to Create Exceptional Member Experiences at Ideal Credit Union [VIDEO]

Posted by Mark Portz on Apr 17, 2018 2:02:00 PM

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MnCUN Interviews: Ideal CU and OnApproach Work Together to Leverage Data Analytics' Potential... from CUbroadcast on Vimeo.

At the Minnesota Credit Union Network (MnCUN) Annual Conference, Paul Ablack, CEO, OnApproach and Alisha Johnson, Executive Vice President of Operations for Ideal Credit Union, joined Mike Lawson, Host of CUbroadcast, to discuss data access, member profitability, member engagement, data lakes, timely and targeted marketing, chatbots, real-time analytics, and credit union collaboration.  

During the discussion about the value of access to data, Alisha mentions, "[The] warehouse gives us access to the data that we have, and it puts it in a process so that it's easy to access. And that easy access, we're using in many different ways... prior to being able to access our information through M360, we would use our MCIF, the data would be a month old, and it's really hard to have a sales conversation with someone and say, 'Can you remember what happened with this member last month?'' This way, we look it up every day, our managers work with our staff to talk about 'What were your successes yesterday?', 'What are you working on for tomorrow?', and they can access that information... every day, with M360." 

The conversation also discusses the success of Ideal Credit Union's VIP Program. As stated by Alisha, "... It means a lot to our members... The first [program] that we worked with Paul and OnApproach on, before we started accessing data directly, was our creation of our VIP program. So, we had paid back to our membership over the last couple of years $6 Million, and that is because we have been able to identify who brings money to our membership, how successful they make us, and then we return it to them based on a number of different criteria. Without OnApproach, we would never be able to access that criteria, and even be fair in the distribution of the funds that we give back to our members." 

To learn more about this program and the VIP program successes, view the full case study: 

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Watch the Ideal Credit Union VIP Case Study Video

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Topics: Video, Membership, Analytic Data Model, Case Study