The NAFCU Journal May - June 2019 - 22

''

Doing data analysis in a
vacuum can yield your own
results but may not yield the
full picture. ...

''

- AARON JUNOD, VICE PRESIDENT OF
PRODUCT MANAGEMENT, GEEZEO

level of rewards or high-end services
that you receive from, for example,
American Express or certain Capital
One cards. We could use their payment
data to determine if they have those
products elsewhere, to get a sense of
what the incremental revenue value
could be for us."

Geezeo, a fintech partner for financial
institutions, core processors and complementary digital banking solutions.
"When people are about to look for a
HELOC, you'll see a lot of shopping at
Home Depot or Lowe's because they
want to expand their home."

Second, this data gives you a peek into
your members' needs so you can create
relevant products for them. "We're
evaluating direct deposit, account
balances, transactional data and
demographic data to determine
how people are using the product,"
says Clobes. "Then, through the
transaction data, we're determining
when members are making transfers
through other financial institutions
and trying to evaluate what they
might be utilizing elsewhere as a
checking product."

Geofencing is using GPS or radiofrequency identification to draw a
geographic boundary that can trigger a
response when a mobile device enters
or leaves it. MSUFCU, for example,
uses geofencing to pop up a home
loan ad on the member app whenever
a member is near a Parade of Homes

Where members are right now

event. Credit unions could also use
location data to target members when
they're inactive and using their mobile
devices, meaning they have the time
and opportunity to engage with you -
such as waiting in the carpool line at
an elementary school.

Email and ad
click-through rates
Gathering statistics on how many
members are opening your emails,
clicking on links in emails and clicking
on online ads helps credit unions
know what kinds of offers and messaging work for their members. Faye
Fardshisheh, first vice president of
marketing at United Nations Federal
Credit Union (UNFCU) in Long Island
City, N.Y., uses data such as clickthrough rates to see not only which
messages are resonating, but also how
the credit union should further refine
its communication to improve on
those results.
FedChoice monitors web traffic,
including where the traffic came from

MSUFCU will be combining this
information with data from focus
groups to determine whether they
should offer rewards checking, identity
theft protection plans or a high-rate
checking account, and what their
members' fee tolerance is for such
checking accounts.

Customer behavior data
Understanding member behaviors
such as saving, spending, insuring and
investing helps credit unions figure out
when members are experiencing major
life events - so they can promote
the most suitable products to them.
"We often see people saving more
when they're looking for a new home
because they're looking for that down
payment," says Aaron Junod, vice
president of product management at
22

THE NAFCU JOURNAL MAY-JUNE 2019



The NAFCU Journal May - June 2019

Table of Contents for the Digital Edition of The NAFCU Journal May - June 2019

The NAFCU Journal May - June 2019
Contents
Conferences
From the Chair
Washington and Industry Briefs
The Bottom Line
Welcome, New Members
Knowledge Is Power Credit unions leverage data and analytics for strategic business growth.
Lowering the High Cost of Internal Fraud Policies, culture and training work together to improve fraud detection and prevention.
2019 Annual Conference Exhibitor Directory
Executive Spotlight
Management Insight
Compliance Central
Inside NAFCU Services
From the President’s Desk
The NAFCU Journal May - June 2019 - The NAFCU Journal May - June 2019
The NAFCU Journal May - June 2019 - Cover2
The NAFCU Journal May - June 2019 - Contents
The NAFCU Journal May - June 2019 - 2
The NAFCU Journal May - June 2019 - Conferences
The NAFCU Journal May - June 2019 - From the Chair
The NAFCU Journal May - June 2019 - 5
The NAFCU Journal May - June 2019 - Washington and Industry Briefs
The NAFCU Journal May - June 2019 - 7
The NAFCU Journal May - June 2019 - The Bottom Line
The NAFCU Journal May - June 2019 - 9
The NAFCU Journal May - June 2019 - 10
The NAFCU Journal May - June 2019 - 11
The NAFCU Journal May - June 2019 - Welcome, New Members
The NAFCU Journal May - June 2019 - 13
The NAFCU Journal May - June 2019 - 14
The NAFCU Journal May - June 2019 - 15
The NAFCU Journal May - June 2019 - 16
The NAFCU Journal May - June 2019 - 17
The NAFCU Journal May - June 2019 - Knowledge Is Power Credit unions leverage data and analytics for strategic business growth.
The NAFCU Journal May - June 2019 - 19
The NAFCU Journal May - June 2019 - 20
The NAFCU Journal May - June 2019 - 21
The NAFCU Journal May - June 2019 - 22
The NAFCU Journal May - June 2019 - 23
The NAFCU Journal May - June 2019 - 24
The NAFCU Journal May - June 2019 - 25
The NAFCU Journal May - June 2019 - Lowering the High Cost of Internal Fraud Policies, culture and training work together to improve fraud detection and prevention.
The NAFCU Journal May - June 2019 - 27
The NAFCU Journal May - June 2019 - 28
The NAFCU Journal May - June 2019 - 29
The NAFCU Journal May - June 2019 - 30
The NAFCU Journal May - June 2019 - 31
The NAFCU Journal May - June 2019 - 32
The NAFCU Journal May - June 2019 - 33
The NAFCU Journal May - June 2019 - 34
The NAFCU Journal May - June 2019 - 2019 Annual Conference Exhibitor Directory
The NAFCU Journal May - June 2019 - 36
The NAFCU Journal May - June 2019 - 37
The NAFCU Journal May - June 2019 - 38
The NAFCU Journal May - June 2019 - 39
The NAFCU Journal May - June 2019 - 40
The NAFCU Journal May - June 2019 - 41
The NAFCU Journal May - June 2019 - Executive Spotlight
The NAFCU Journal May - June 2019 - 43
The NAFCU Journal May - June 2019 - 44
The NAFCU Journal May - June 2019 - 45
The NAFCU Journal May - June 2019 - Management Insight
The NAFCU Journal May - June 2019 - 47
The NAFCU Journal May - June 2019 - Compliance Central
The NAFCU Journal May - June 2019 - 49
The NAFCU Journal May - June 2019 - Inside NAFCU Services
The NAFCU Journal May - June 2019 - 51
The NAFCU Journal May - June 2019 - From the President’s Desk
The NAFCU Journal May - June 2019 - Cover3
The NAFCU Journal May - June 2019 - Cover4
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