Credit Union Spotlight: Measuring To Improve Member Financial Health
The National Credit Union Foundation sponsored 3 credit unions to understand the financial health and business impact of a specific product or service. Measuring financial health KPIs can help organizations better understand the impact of specific solutions in customer financial health as well as business impact. These case studies highlight our measurement of transactional indicators with three credit unions, enabling them to drive positive impact for their members and their businesses.
Featured Case Studies
The National Credit Union Foundation partnered with the Financial Health Network by funding these credit unions to measure Key Performance Indicators (KPIs) along with member financial health and gain insight into the impact of specific solutions.
Community First Credit Union’s analysis of its Save My Change Program, a round-up savings tool, showed reductions in the amount of overdrafts and improved participants’ FinHealthScore®️.
Michigan State University Credit Union tracked KPIs for its Reality Fair program, a financial education experience for high school and college students, showing some positive early results.
Nusenda Credit Union evaluated its COOP Capital program, a small-dollar loan program, finding small yet positive improvements in credit scores and borrower sentiment towards the credit union.
The majority of credit union members face financial challenges, highlighting the opportunity for credit unions to leverage financial health data to develop targeted, effective solutions.
These evaluations were generously sponsored by the National Credit Union Foundation.