CUNA Automates Site Selection Process

MADISON, Wis. – CUNA’s Center for Research/Advice and Verdi 7 company have teamed up to unveil a new site-selection tool, Pointrac, to help credit unions identify potential branch or ATM locations. Designed to pinpoint the best potential locations for success based on the credit union’s expansion strategy, Pointrac also compares market characteristics of a potential new site to the credit unions’ existing locations, gives key market demographics for successful branches, describes potential trade area for a particular location, and details the retail destination points in a specific area. In addition, the user can create different scenarios by changing variables such as building/land cost, operational costs such as number of employees and salaries, and the rates they plan to pay on deposits or charge on loans. The software also estimates how long it will take for the new branch or ATM location to pay back investment. “According to our latest E-Scan, credit unions looking to serve an underserved area or convert to a community charter are challenged to develop and execute new strategies for managing sizeable field of membership expansions,” said John Hollander, CUNA’s assistant vice president of business development and sales. “Pointrac can estimate a site’s potential and characteristics in order to help credit unions understand and more accurately plan for a new opening.” Annual subscription fees are based on asset size. Credit unions with limited needs have the option of purchasing small blocks of access. For more information about Pointrac, contact CUNA’s Center for Research/Advice at (888) 837-4589 and press 1.