Credit unions whitepaper: Enhancing Your Strategy Through Data

Credit unions collect an abundance of data, including highly sensitive financial and personal member information. Data can and should be used to enhance service to members, as well as understand opportunities that have potential to create tangible value for executive leaders as they strive to execute on their strategy or identify challenges and risks. But that’s not always the case. Simply collecting data is easy — gaining valuable insights from it, all while remaining compliant with data regulations and preventing cyber attacks, requires diligent planning and execution.

Most are still on this data journey; many are looking to their peers to provide insight and best practices, which can be very time consuming and unreliable. A continued challenge is that information that digs into operational metrics isn’t available cross-provincially, and any data aggregation is done on a static basis.

With these challenges in mind, this whitepaper is designed to help credit union leaders unlock the bright future enabled by the data they collect. We’ll address strategy for collecting and using data, risks to be aware of and pitfalls to avoid, and how to understand the story behind the data.