Boost your credit union's performance with CUPID's benchmarking insights

What if you could see how your credit union measures up, and use that insight to make better decisions?

The Credit Union Peer Information Dashboard (CUPID) was built to do exactly that. Designed with the unique challenges of credit unions in mind, this dashboard helps you improve performance through the critical analysis of data benchmarked against your industry peers. By looking through the lens of multiple leadership positions, CUPID considers not only your financial metrics but a wide range of measures that can help you make important business decisions. This dashboard infuses more confidence and peace of mind into data, informing your decision-making process.  

What is CUPID?

CUPID is a dashboard that allows your credit union to meaningfully benchmark its performance against: 

• Other credit unions with similar attributes (peer groups) 
• Your historical data (trends) 

Since 2022, MNP has been working to evolve CUPID based on your needs. The volume of data available, as well as the metrics and key performance indicators (KPIs)s included, will continue to transform and grow as we engage with system entities and as more credit unions participate. 

With CUPID, you get timely information on key metrics and trends that are vital to managing your business and making informed decisions. The dashboard is available through MNP’s secure client portal and is designed to be convenient to access, and intuitive to use. Currently, information is updated annually but we’re working to make quarterly updates through an enhanced subscription process. This ensures you have access to the most accurate and timely data available, eliminating manual aggregation by your teams.  

The dashboard can aggregate insights by specific attributes, or you can use CUPID’s auto-clustering machine learning function to select a representative peer group for you, which maximizes the value of comparators and makes the data more useful.

The data available in CUPID yields key metrics that can help you measure your performance in several areas, including: 

• Profitability
• Productivity
• Capital, liquidity, and credit quality
• Operating efficiency
• Growth

Optimize your credit union’s use of data  

Data is only truly valuable when it’s analyzed in context. Your credit union may have the ability to view its current data, and even some historical data, with relative ease. However, without knowing how you perform next to your peers, industry standards, and other industry participants, that data may not impart true value when making decisions and driving efficiency.

As a decisionmaker at a credit union, you need to be asking big-picture questions about performance and direction. Questions like:

• Is there something unique in our business that is leading to lower margins. Are our competitors experiencing the same thing?
• Are we growing at the rate we should be?
• How does this align with our current strategy and vision? 

The best and most useful answers won’t be derived by looking at your data in isolation or by reviewing one sole KPI. Rather, these answers come from analyzing multiple benchmarks side by side and looking at trend data, all with the benefit of context. CUPID was designed to help you find the best answers to a myriad of performance-related questions. 

CUPID lets you know where you are leading — or lagging — within your benchmark peer group, helping you increase efficiency, reduce waste, and allocate resources to where they are most needed. One of the dashboard’s key purposes is to streamline data collection for credit unions, making it easier to spot inefficiencies, make informed decisions, and spend more time focusing on strategic activities.

The benefits of CUPID are not limited to a single department — all decision makers at your credit union can benefit from the dashboard views. The following chart outlines the value CUPID brings to different roles within your organization. Our roadmap for the dashboard includes ongoing updates to expand its metrics and broaden its value.