A financial customer data platform to enhance experiences, spark engagement and enrich people's lives.
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As Minnesota’s oldest credit union, US Federal Credit Union had seen many changes throughout its 90+ years. Founded by postal workers, they had grown steadily to almost a billion dollars. Like many organizations, however, stagnation was slowing growth.
Many financial marketers are stuck using decades old, time-delayed manual processes that slow onboarding, engagement and cross-selling for weeks. It’s stifling retention, limiting profitability, and eating up valuable marketing and IT time. But Florida’s $2.3 billion Pen Air Federal Credit Union has leaned into cloud-based data analytics innovation to advance their member experience marketing program.
Blueshore Financial CIO, Fred Cook shares how Strum help's their leaders listen to their organization's data to shape strategy and growth.
In this free webinar Mark Weber, CEO of Strum and Casey Bacon, CEO of Statewide FCU share how to build a data-driven analytics culture and a road map to increase engagement, retention and track ROI results
By Mark Weber, CEO & Chairman - StrumWhile many credit union leaders have tried to build organizational profit models, few have succeeded in building a sightline on the real profitability of their member relationships.Some have generalized, peer-level profitability, or average household profitability based on industry “standards.” Certainly few, if any, know what the “lifetime profitability” of their members truly is. And in fact, some leaders (and boards) have simply determined that it is wrong to identify or even discuss which members are profitable or unprofitable, lest they be treated unfairly.That lack of relationship profitability insight threatens to hinder leaders during an especially vulnerable time: as margins are squeezed; capital ratios decline and lending is challenged amidst the pandemic and recession. If successful growth in the past decade has been covering this blind spot, we are now in a moment where data gaps like this can no longer be ignored.