|Posted on March 20, 2019 at 9:35 AM|
Credit unions in the US have been witnessing a steady increase in membership since 2010. Average annual membership growth has been ~4% in the last 4 years. On the contrary, the deposit growth has shown a decline since Q3 of 2016. The deposit growth rate was recorded at 4.87% in Q3 of 2018 compared to 8.44% of Q3 of 2016.
Around 40% of the credit unions have reported a decline in deposits in 2018 which amounted to ~$3 billion on a YoY basis. Chartway credit union (V...Read Full Post »
|Posted on December 27, 2018 at 9:10 AM|
Increasing loan growth
After the sub-prime crisis, loan growth for credit unions started declining and in 2010 and 2011 the growth was negative i.e. more loans were paid off as compared to loan originations. Loan growth gained momentum in late 2011 and it has been increasing since then. As per NCUAQ3 2018 data, total loans for credit unions combined has reached $1.04T with a growth rate of 9.5% YoY., this includes $24.3B of loans of just the last quarter. The year-ov...Read Full Post »
|Posted on November 29, 2018 at 4:30 AM|
CU Rise Analytics is excited to be associated with Georgia’s Own Credit Union, a credit union with $2.4 billion in assets and over 188,000 members. Georgia’s Own has always strived to make lives of their members better by providing them the most competitive products and services possible. They take pride in giving back to members and communities in which they operate.
While Georgia’s Own has been utilizing analytics driven approaches to drive their decision...Read Full Post »
|Posted on November 15, 2018 at 7:45 AM|
In today’s competitive world, role of data in the financial services sector has become extremely important. The question many financial institutions face is how to utilize this data to make informed decisions. Since data analytics is a hot topic for all financial institutions, it is helpful to know that good visualization approaches, tools and projects can accelerate the journey to data analytics and predictive models. While not necessarily a precursor to it, identifying the underlying ...Read Full Post »
|Posted on August 9, 2018 at 6:00 AM|
Vienna, Va. (August, 2018 )- CU Rise Analytics, a Virginia-based, global CUSO providing data science and technology enablement solutions to credit unions, is excited to announce that Ideal Credit Union has signed on for a robust reporting suite as well as data analytics to create exceptional member experiences. CU Rise will build a reporting and analytics solution for Ideal CU in...Read Full Post »