Knowing how their performance stacks up just got easier for US Credit Unions. Free online service measures actionable performance drivers compared to peer and competitor benchmarks.
Toronto, ON -- (ReleaseWire) -- 07/19/2018 -- FlowTracker Analytics Inc. announced today a free Key Performance Indicator (KPI) peer comparison service for U.S. Credit Unions. The online business intelligence reporting service enables Credit Unions to analyze their own performance and compare with peers and competitors.
"Useful KPI metrics direct management action," says Dave McNab, CEO of FlowTracker Analytics, "so we developed a set of performance drivers that are actionable. We're sharing them in a free reporting app to help inform Credit Union business strategy development."
Based on NCUA Call Report data, the online service provides Credit Unions with four KPI ratios that measure controllable performance drivers:
Price - Are services discounted? premium priced?
Position - Are Members skewed to high or low balance?
Service Level - Are service levels high touch or low touch service?
Staff Mix - Are staff high cost or low cost?
Combining these ratios produces a "Productivity" metric that shows how much revenue is earned per dollar of staff cost - a universally comparable measure of productivity.
"A 1% change in any of the four drivers changes the Productivity ratio by 1%. And a 1% change in the Productivity ratio has a 2.5% impact on the bottom line of a typical Credit Union" according to McNab.
Credit Unions can compare their figures with peers and competitors, selecting custom groups by Asset Size, Loan-to-Share Ratio, Geography (Region State, City) and Field of Membership type. Charts include a peer comparison table, KPI trends since 2011 and frequency distributions for each KPI to help CUs identify the right norms as benchmarks. Data will be refreshed quarterly, as NCUA Call Report data becomes available.
The CU KPI Metrics Peer Ratio Comparisons, Benchmarks service is available without registration or cost on the FlowTracker Analytics website.
About FlowTracker Analytics Inc.
With offices in Toronto and New York, our mission is to make actionable analytics accessible to Financial Institutions of all sizes. We enable Banks and Credit Unions to grow deposits through smarter performance management, targeting for growth, dynamic behavior insights and deeper product intelligence.
Our FlowTracker SaaS service provides a complete planning, analysis and action list generation solution, based on a patented analytical method that reveals money flows into, out of and among products at the individual account level. The FlowTracker solution uses readily available data, takes only a few days to set up, is delivered as a service to avoid capital costs and price is scaled to assets to make our capabilities accessible to all.
Dave McNab, President & CEO
FlowTracker Analytics Inc. | 416-708-2069 | firstname.lastname@example.org
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