New partnership will help credit union household relationships, gain access to better reporting
White Clay, a revenue improvement company, announced that Financial Plus Credit Union plans to leverage the company’s householding solution to gain greater visibility into member relationships.
“Data can transform the way organizations do business, support their employees, and better serve their communities. We’re proud to partner with Financial Plus to help them evolve their strategy, while continuing to deliver high-touch member service.”
Financial Plus has grown substantially in the last few years, and with that growth came an abundance of member data. Though they recently built and organized a data warehouse, they needed a better way to align, access, and use their member data. Knowing the growth potential of a targeted data strategy, the $813 million-asset credit union decided to partner with White Clay. With White Clay’s solution, Financial Plus will build full member profiles throughout the organization, thus eliminating internal siloes and providing a holistic view of each member relationship. This advancement will help the credit union continue to scale, increase competitiveness, and deliver personalized services to all its members.
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Brad Bergmooser, President and CEO at Financial Plus, said, “White Clay is the perfect business partner for our organization; they have scale and experience, as well as a willingness to provide personal attention and help us build our data strategy. Looking toward our next growth goal, we needed a partner that could maximize the power of the data we’re currently sitting on to deliver actionable insights. The efficiencies gained from White Clay’s solution will improve operations and help us better serve the needs of our community.”
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With White Clay’s solution, Financial Plus will household member relationships, gaining a better understanding of product usage and transactions. The credit union will be able to leverage these insights to deepen relationships and recommend more relevant products. Householding will also help the credit union determine profitability and pricing at a branch- and organizational-level. When relationships are priced accordingly, Financial Plus can continue to invest in better products and offer lower rates for its members, thus improving the member experience and boosting satisfaction. This information will also be used across departments to provide insights into performance, as well as train and incentivize employees.
Mac Thompson, Founder and President of White Clay, said, “Data can transform the way organizations do business, support their employees, and better serve their communities. We’re proud to partner with Financial Plus to help them evolve their strategy, while continuing to deliver high-touch member service.”
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