CUNA
  • Advocacy
    • Priorities we’re fighting for
    • Actions you can take
  • News
  • Learn
  • Compliance
  • Shop
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • COVID-19
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact
Learn More about Member Value

News

Member Benefits
Learn more
Learn more about the benefits of membership.
Home » SPONSORED PODCAST: Data is a ‘matter of survival’
Technology Podcast
SPONSORED PODCAST

SPONSORED PODCAST: Data is a ‘matter of survival’

Use analytics to stay relevant to your members, says Illinois CU League CEO Tom Kane.

August 9, 2018
Jennifer Plager
No Comments
Tom Kane

In the age of information revolution, credit unions need to adopt a data strategy that will allow them to gain a better understanding of their members before they make decisions.

“It’s going to end up being a matter of survival,” says Tom Kane, president/CEO of the Illinois Credit Union League and LSC.

Credit unions collect a vast amount of data on their members. The most important part of that data is being able to analyze it and make decisions that influence what members see and experience, as well as the speed by which tasks are completed.

In short, you need to use data to stay relevant to your members, Kane says.

“One of the buzz phrases you hear about data analytics is, ‘It’s delivering the right message to the right member at the right time,’” Kane says. “Otherwise, other people are going to do it. They’re going to be hitting those members and offering a quick and easy experience because they have a lot of information. They can create a tailored message to what your member’s need is right at that time.”

Whether they roll out an all-encompassing data strategy or just take a small step, Kane says credit unions need to roll out some kind of a data program.

“It’s important that they get a better understanding, through the use of data, of what their members want and how to serve their members better," he says.

“People can get overwhelmed with what other people are doing or feel that this is too big to even tackle,” he continues. “Just do something.”

In this episode of the CUNA News Podcast, Kane discusses the information revolution, the importance of data, challenges credit unions face when adopting a data analytics strategy, and Iron Safe, a system that extracts data from various reports and places into one usable dashboard for credit unions.

You can listen and subscribe to the CUNA News Podcast in Apple’s iTunes Store, Google Play, and Stitchery Radio.

KEYWORDS data analytics Podcast

Post a comment to this article

Report Abusive Comment

Credit Union Magazine - Spring 2021

Spring 2021

Credit Union Magazine’s Spring 2021 edition features CUNA's 2021 advocacy agenda, strategic planning guidance, and labor market insights.
Digital Edition •  Subscribe

Trending

  • ‘More listening and less attacking’

  • Movement must focus on financial well-being for all

  • Why DEI matters to credit unions

Tweets by CUNA_News

Polls

Who should be the 2021 Credit Union Hero of the Year?

View Results
More

Champion of America’s Credit Unions

Credit Union National Association is the only national association that advocates on behalf of all of America’s credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • About
  • Careers
  • Contact Us
  • Recommended Websites
  • Privacy Policy

Resources for

  • CUNA Board Members
  • Credit Union Advocates
  • Leagues
  • Press
  • Vendors