More and more credit unions are utilizing “Household” level information for member service initiatives ranging from marketing to risk. However there is a lack of standard and cost-effective mechanism to perform this exercise.
Performing householding on membership has been a challenge for the credit unions given the non-standard recording of the addresses. Generally, a MCIF system/vendor can help build the member level household list but this is an expensive proposition. There is a realized need to have this information sorted to manage various initiatives at household level.
As an alternative CU Rise has developed a ‘Householding’ algorithm. which groups the members into their respective households. This uses data like last name, address, city, zip and home phone. It does not require any external information.
CU Rise Householding application is a subscription-based service. It is developed as a windows-based application with an extremely user friendly interface. New features are continuously being added to the Householding Application to improve the accuracy and utility of the results derived from it.
Contact us to implement this at your credit union. If you are an OnApproach client, click here to visit the CU App Store to subscribe to this service.