CU*Answers Plans New Investments In Data Analysis, Presentation
MACKINAC ISLAND, Mich.–CU*Answers held its Annual Board Planning Session here, and during the course of the event the CU*Answers Executive Council and board discussed the business plan, strategic technology plan, and budget for 2017. The week’s events resulted in the approval of the three documents by the Board of Directors.
According to CU*Answers, board committees also convened to discuss new opportunities and anticipated hurdles as the CUSO continues to expand its reach nationally.
“As a member of the board and the Investment Committee, I am excited to explore new investment opportunities in the future that will drive new innovations and create value for our CUSO stake holders,” said Donald Mills, CU*Answers Board Member and CEO of Alpena Alcona Area Credit Union. “Data analysis and data presentation is one area our CUSO will drive new investments in 2017 as we focus on becoming a premier solution for credit union data analysts. Data analysis will also be the focus as we continue to drive new revenue opportunities and collaborative solutions to lower your costs of compliance moving into the future.”
CU*Answers said it finalize the 2016 business year on Sept. 30th, and is anticipating another strong year following last year’s record setting numbers, which included a total patronage dividend of $2.5 million paid back to clients. The CUSO will welcome Notre Dame FCU CEO, Tom Gryp, as the newest member of the board of directors effective October 1st.
Separately, CU*Answers reported it is making it easy for credit unions to acquire custom-branded online banking services. Credit unions using the CUSO’s It’s Me 247 Online Banking solution have a variety of options to customize their experience, allowing them to take advantage of the expanding portfolio of self-service channel products while still maintaining their credit union identity in the community, the CUSO said.
While credit unions have for years had the option to custom brand their It’s Me 247 Online Banking experience, CU*Answers reported it has recently gone further to give credit unions more options and with more online services.
“Credit unions no longer want to sacrifice their identity within the community when adding online services,” said Scott Page, CU*Answers EVP. “Having generically branded tools breaks the credit union experience for members. Having differently branded services for everything the credit union wants to offer makes the whole member experience feel piecemeal. And with our growing number of homegrown services including recently added integrated bill pay and a free mobile app, credit unions no longer have to sacrifice that identity. Rather than marketing online banking as It’s Me 247, credit unions can brand online banking with their own logo, create a unique color scheme, upload custom photo albums, and add personalized social media links to sell the member a complete user experience.”