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Best Practices

7 Data Best Practices for CUs

When creating a data strategy, CUs should define specific use cases for their data and tackle them one at a time.

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As members go about their day to day lives, every card swipe, mobile banking app login, loan payment and recurring deposit leaves a digital paper trail, which over time accumulates into a giant pile of data that tells a story about their financial behaviors and how they’re engaging with their credit union. Some credit unions are simply sitting on this mountain of member data, while others are developing strategies to leverage it. The latter group has understood that within their data lies valuable insights that can help them understand their members’ needs and preferences, which in turn allows them to make decisions that can improve member experiences and grow credit union business.

Here are seven best practices from credit union industry leaders with data strategy expertise for credit unions looking to make the most of their member data.

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Natasha Chilingerian

Natasha Chilingerian

Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.

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