Background

American Heritage Credit Union faced a critical challenge stemming from the fragmentation of their data and member story across disparate systems. This fragmentation hindered staff from efficiently accessing essential information required to serve members promptly and effectively. Also, as the credit union was also looking to expand and grow, it became imperative to implement a robust data strategy capable of facilitating scalability while ensuring seamless member service delivery.

Compounding the issue, everything data-related was being funneled through the IT department, including reporting and access to any information needed to help frontline staff. As a result, the IT department quickly became over allocated, further exacerbating operational complexities. There was also a reliance on outdated manual and cumbersome systems which hindered the realization of the credit union’s full potential.

Recognizing the urgent need for transformation, American Heritage Credit Union embarked on a journey to overhaul its data strategy and optimize operational efficiency. Through strategic initiatives and technological advancements, the credit union aimed to centralize its data ecosystem, empowering staff with seamless access to member insights while alleviating the strain on IT resources. By modernizing outdated systems and embracing automation, the credit union sought to enhance agility, drive innovation, and elevate the overall member experience.

The imperative to consolidate disparate data sources, coupled with the necessity for scalable solutions to support rapid growth, prompted American Heritage Credit Union to embark on a transformative journey towards a more efficient and member-centric operational model.

The Solution

Following a rigorous RFP process, which included evaluation of leading solutions such as Salesforce, American Heritage Credit Union ultimately decided to implement Datava’s End-to-End Data Activation Platform.

Datava’s platform served as a transformative catalyst, enabling American Heritage to centralize, curate, aggregate, and organize its multifaceted data landscape. By leveraging the platform’s advanced data activation capabilities, AMH utilized actionable insights which led to enhancing member service, optimizing staff productivity, and fueling growth initiatives. Additionally, the platform facilitated the development of highly targeted onboarding, referral, and marketing campaigns, driving tangible business outcomes.

A key feature of Datava’s solution was its seamless integration capabilities, which facilitated the consolidation of disparate and siloed data sources into a unified platform. This led to the creation of a visually intuitive member dashboard, consolidating all facets of the member journey into a single comprehensive view. As a result, American Heritage’s staff gained greater visibility and accessibility to member data, enabling them to deliver superior service with enhanced efficiency and speed. Datava also provided in-house management services, effectively relieving the IT department of the strain on their time and resources.

In summary, the deployment of Datava’s End-to-End Data Activation Platform represented a strategic investment in technological innovation, positioning American Heritage Credit Union at the forefront of data-driven excellence. Through their partnership with Datava, the credit union successfully elevated member experiences, drove operational efficiencies, and unlocked sustainable growth.

Results

Through their strategic partnership with Datava, American Heritage Credit Union achieved remarkable and quantifiable results, underscoring the transformative impact of their data activation initiatives.

In just 18 months following the implementation of Datava’s solutions, American Heritage witnessed an extraordinary milestone, achieving a remarkable $1 billion in growth. This not only underscored the efficacy of the credit union’s data-driven approach but also served as a testament to their unwavering commitment to delivering exceptional member experiences.

Furthermore, the credit union realized significant enhancements in key performance metrics. Specifically, American Heritage experienced a 25% increase in household cross-sell, reflecting the success of personalized next best product recommendations and member engagement strategies facilitated by data insights.

Moreover, the credit union observed a remarkable 200% surge in New Indirect Approved Loans, highlighting the amplification of their lending capabilities enabled by data-driven decision-making. They were able to bolster revenue streams and reinforce American Heritage’s position as a trusted financial partner within their community.

Additionally, American Heritage witnessed a 29% uptick in loans and deposits originating from Select Employee Groups (SEGs), signaling the successful cultivation of strategic partnerships and the expansion of their member base.

The measurable results achieved by American Heritage Credit Union underscore the transformative potential of data activation initiatives in driving sustainable growth, enhancing member engagement, and fortifying organizational resilience. By harnessing the power of Datava’s Data Activation Platform, the credit union has shown how powerful embracing innovation can be. This led to American Heritage forming a CUSO with Datava and became an active investment partner in the company.

Benefits

1. Improved Member Service
Datava’s platform enabled American Heritage Credit Union to consolidate disparate data sources into a single, visually intuitive member dashboard. This centralized access allowed staff to quickly and efficiently access comprehensive member information, enhancing their ability to deliver superior and personalized service. The streamlined process led to increased member satisfaction and loyalty.

2. Increased Staff Productivity
By alleviating the strain on the IT department and providing seamless access to member insights, Datava’s platform empowered frontline staff with the tools they needed to work more efficiently. The elimination of outdated, manual systems and the automation of routine tasks enabled employees to focus on higher-value activities, boosting overall productivity.

3. Growth and ROI
The implementation of Datava’s solutions drove significant growth for American Heritage Credit Union, with a notable $1 billion increase in assets over 18 months. This growth was fueled by data-driven decision-making, which improved cross-selling, loan approvals, and member acquisition strategies. The remarkable ROI demonstrated the platform’s effectiveness in supporting the credit union’s expansion goals.

4. Enhanced Operational Efficiency
The centralization and automation of data management reduced operational complexities and improved overall efficiency. By streamlining data access and reporting processes, the platform minimized the time and resources required for IT interventions. This enhanced efficiency allowed the credit union to operate more smoothly and respond to member needs more promptly.

5. Strategic Partnership and Innovation
The success achieved through Datava’s platform led to a deeper strategic partnership, with American Heritage Credit Union forming a Credit Union Service Organization (CUSO) and becoming an active investment partner in Datava. This collaboration not only reinforced their commitment to innovation but also positioned the credit union at the forefront of data-driven excellence in the financial services industry.

If you are a credit union looking to improve your data activation capabilities and gain a deeper understanding of your members, Datava can help.