As technology advances and the world increasingly digitizes, data has become a valuable asset for businesses across industries. Credit unions are no exception to this trend, and making space for data at their strategic table is becoming increasingly important.
One reason why credit unions should prioritize data is that it can help them better understand their members. Credit unions can gain insights into their needs, preferences, and behaviors by collecting and analyzing data on member behavior. This information can then be used to tailor products and services to meet member needs better, ultimately improving member satisfaction and loyalty.
Data can also help credit unions make more informed decisions. Credit unions can identify new opportunities and potential risks by analyzing market trends, competition, and member behavior. This information can then be used to make strategic decisions to help credit unions stay ahead of the curve and remain competitive.
Another reason why credit unions should make space for data at their strategic table is because it can help them improve operational efficiency. By collecting and analyzing data on internal processes and operations, credit unions can identify areas of inefficiency and streamline processes to improve productivity and reduce costs.
In addition to these benefits, data can also help credit unions meet regulatory requirements. By collecting and analyzing data on compliance and risk management, credit unions can demonstrate compliance with regulatory standards and ensure they are taking steps to mitigate potential risks.
Data has become an essential component of strategy development, and credit unions that fail to make space for data at their strategic table risk falling behind their competitors. Credit unions can leverage data to gain insights that inform strategic decisions and improve their overall performance by collecting and analyzing data on member behavior, market trends, competition, and internal operations.
Ready to ACTIVATE
your data?
Then plan on attending the
It's hard to know where to go when you don't have a map,
the same is true with activating your data.
Registration closes, May 31!
Next Class Starts: June 7!
Data activated by July!
Perfect time to send more than one team member AND check that
"launched data journey in 2023" box DONE!
We believe that data transformation doesn't have to feel overwhelming or expensive to be impactful. After helping over 600 credit union leaders launch their data journeys, we have identified several consistent knowledge gaps. We have worked hard to fill these gaps with a variety of educational artifacts:
NEW! Read the Data Education White Paper (found at the bottom of the page)