Stories of Success: How Credit Unions are Using Celero’s Business Analytics Solution

August 5, 2020

On July 23, credit union panelists from Cornerstone Credit Union, Weyburn Credit Union, Christian Credit Union and Connect First Credit Union spoke with Aaron Dalziel, team lead of our Business Analytics team. This online panel was a great chance to hear from the following individuals regarding their respective journeys with our analytics solution and the successes they’ve recognized:

Lori Walsh, VP Marketing and Communications, Cornerstone Credit Union

Ryan Janke, VP of Technology, Weyburn Credit Union

Phil Geusebroek, Marketing Director, Christian Credit Union

Virgilio Grimaldi, Manager, Corporate Analytics, Connect First Credit Union


Cornerstone Credit Union

As the beta customer of our analytics solution, Lori and Cornerstone Credit Union have been alongside us since the beginning. Being further along in their analytics journey, Lori’s insights on what it meant to become a data-driven company was very astute; leveraging data as the basis of all decisions, and specifically key strategic decisions. Since the beginning of their journey, Cornerstone has sought to understand their members in a more meaningful way, and use that enhanced understanding to act, and provide a more engaging, member-centric experience.

They have been very successful in leveraging their data to offset their market and business challenges as was recognized in 2018 in an Analytics Showcase competition at the Analytics and Financial Innovation (AXFI) Conference.

One example of their data-driven success was to dispel the assumption that Cornerstone was the primary financial institution for many of their members. With Celero’s analytics solution they quickly identified that many of their members were doing business at other financial institutions. This new awareness of their members’ external business gave Lori and her team the ability to action insights across departments. Understanding which members did business elsewhere allowed them to present targeted offers to win their business and deepen their relationship with Cornerstone.

Analytics has become essential for Cornerstone in their marketing campaigns and strategic decisions, which is a testament to how well they have implemented a data-driven approach across their organization.


Weyburn Credit Union

As the project sponsor for Weyburn Credit Union, Ryan discussed a wide variety of ways Weyburn has used the analytics solution to benefit their organization.

A valuable insight Ryan provided is Weyburn’s usage of their data to help confirm assumptions and gut instincts, in addition to uncovering insights that are notably surprising. It’s a lot easier to sleep at night when your decisions are being made based on data and not assumptions.

The successes that Weyburn has experienced have been recognized across the organization. Using the various pieces of data to understand the disengaged members, as well as the members most affected by the pandemic were valuable, tangible ways Weyburn could intervene to ensure their members felt supported and enabled by their credit union.

In addition to some of the feedback Ryan provided on the marketing and sales, he also touched on the operational efficiencies which have stretched across the organization. Celero’s analytics solution allowed Ryan and his peers to piece together various pieces of data to conclusively make impactful decisions. Previously, members of various teams would be called upon to crunch the numbers to provide the necessary information to make those decisions. Ryan mentioned that now, some of those key insights he required are available and able to be refreshed within one click. This ability to save the time on a weekly, monthly or quarterly basis by having the data presented upon access of the dashboards allows for quicker decision-making abilities.

Another example involved an initiative at Weyburn requiring staff to reach out to business members, and when doing so, it became noticeable that the portfolio managers supporting business members were not evenly distributed and, in some cases, members didn’t have a specific portfolio manager. Using various data points in their analytics solution, Weyburn was able to recognize the need to reallocate staff to those members without a dedicated manager in place, and in an organized way, contact all these individuals for that specific initiative.


Christian Credit Union

As a smaller credit union, Phil offered a unique vision into how Christian Credit Union was able to capture business they previously had been losing.

In partnership with thirteen Christian schools across Alberta, Christian Credit Union offered youth accounts, to bank at a Biblically focused credit union. What they noticed though, was between the ages of 17 and 20, these members were closing their accounts, or doing their primary banking elsewhere. So, using the enhanced insights they had, over the course of April-June of this year, during the pandemic, they reached out and sought the opportunity to meet with these individuals to understand their financial roadmap. As these are important years for buying your first vehicle, deciding on your education journey, or moving into the workplace, Christian Credit Union wanted to ensure these members were aided in these important financial decisions.

Through this initiative to work with the 17 to 20 year old segment, Christian Credit Union gained 77 new accounts and delivered great value to these individuals who were seeking guidance and the opportunity to discuss their life and finance roadmaps.


Connect First Credit Union

Connect First Credit Union recently completed their implementation project and Virgilio shared very valuable information on how they prepared.

For Connect First’s implementation, Virgilio identified that having two teams was critical to their success. Their technical team was quite involved from the beginning, with the main task of understanding the data they needed in the solution, as well as the mapping construct to get the data into the solution. The second group, comprised of members from different areas of their business units, were tasked with identifying what problems data could help them solve. Aaron and the Celero team worked with Connect First to understand the specific business needs they wanted to solve and shared the standard libraries previously established.

An exciting highlight from the Connect First implementation project was finishing approximately one month ahead of schedule. This speaks to the dedication and planning from the Connect First side, as well as the delivery and agility from the Celero side.

It will be very exciting to see how Connect First grows the adoption of this solution and how Virgilio and team leverage their insights to impact the entire Connect First team.


Related posts: 

Business Analytics: How to Leverage Data to Transform the Way Your Credit Union Serves Members 

Everything You Need to Know About Celero's Product Families 

Four Ways Credit Unions Can Leverage Business Analytics to Engage Members 

A Guide to Business Analytics Implementation 

Why Christian Credit Union Can’t Live Without Their Business Analytics Solution 


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Stories of Success: How Credit Unions are Using Celero’s Business Analytics Solution