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Using CU*BASE Dashboards to Better Understand Your Membership

September 17, 2020.

 

Written by Sarah Ashby, Business Intelligence Analyst.

This article originally appeared on The Data Trendsetter.

Working with the CU*Answers Asterisk Intelligence team has been a blessing, as it has allowed me to learn more about the best ways to communicate with credit unions how to access, understand, and utilize their data in new ways. While there were plenty of other important things I learned in the two years we’ve partnered together so far, this has been, by far, my very favorite. Through this partnership I was able to host a variety of trainings with credit unions both old and new to CU*Answers, and talk to them about the 100+ dashboard tools that live in CU*BASE.

 

All too often, clients think that query is the end all be all for working with their data, and this simply isn’t true. There’s a lot you can get started with through the use of CU*BASE dashboards, and I always recommend these tools as starting points. Despite lots of training opportunities, both live, recorded, and in-person, there always seems to be a few credit union employees that either haven’t heard about these tools, or just can’t seem to make the trainings. It is because of these reasons that I thought I’d share some of my favorite tools in a blog post. Be aware that CU*BASE updates and changes on a regular basis, so some tool numbers and availability may change after I’ve written this post.

 

As of today, here are some of my favorite CU*BASE Dashboards to work with when it comes to better understanding your membership.

 

  • Common Bonds: Common Bonds allows you to study what a group of members has in common. This tool can be used in conjunction with CU*BASE files of your own creation in report builder, list generator, or other CU*BASE dashboards, and is often included in plenty of the dashboards that exist today.
  • Losing the Love: This one is near and dear to my heart as it is also an Xtend Marketing Program that I run, but the CU*BASE tool itself allows you to study your recently closed memberships under five behavior patterns. View the changes in balance, product engagement, service engagement, tiered services, and net relationship status in members that closed within the previous 9 months to establish patterns in the behaviors of members who look like they are “losing the love” of their membership at your credit union. This dashboard then allows you to look at your open memberships’ behaviors and see if any of these members look like they’re on their way out the door.
  • Where Your Members Borrow: This dashboard allows you to study which members have an outside loan on file by looking at credit report data. Filter by credit report date, credit score, and trade type to find just how many outside loan balances your members hold.
  • Where Your Members Shop: This dashboard studies transactional data from the previous month instead of credit report data, which can open a lot of doors for credit unions that do not have recent credit report data for most of their membership. My favorite ways to use this dashboard are to search for members making credit card payments to big name credit cards and “big-box” stores on a regular basis, but it’s also neat to see what your members regularly spend their money on.
  • Why Your Members Call: Studying the members that call your credit union used to be difficult. There aren’t any dashboards that currently study non-Sales Tracker tracker data, so finding this information could only be run through a report that gave you information on the trackers themselves only, not the members that caused employees to create a tracker for working with them. With Why Your Members Call, you can study the usage of Wrap Up Codes at your credit union to discover why your members call, and who your callers are. This is especially important right now with the COVID-19 impact, and credit unions need to ensure they study this important dataset from that time to prepare themselves, and their members, for the future.

 

There are many other great dashboards in CU*BASE, but these are some of my favorites for better getting to know your membership. What are some of your favorite CU*BASE tools, and why?

Sarah Ashby is Xtend’s Business Intelligence Analyst with Xtend Data Analytics and CU*Answers Asterisk Intelligence. She also runs the credit union analytics blog The Data Trendsetter.

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