Going Where The Growth Is Helps Coopera Consulting Increase Credit Union Success

THE CHALLENGE

Coopera Consulting, a full-service Multicultural growth firm, provides custom solutions for credit unions (CUs) and other financial institutions nationwide. They’ve been a Claritas data user for years, leveraging insights to help clients better understand member opportunity. Hispanics as a group are more underbanked than any other racial or ethnic group. Reaching these households is a big challenge Coopera Consulting’s clients come to them to help find solutions for.

HOW WE DID IT

In addition to utilizing custom services from us, Coopera also leverages Claritas GIS to run analyses on their clients’ member lists. The Hispanic Member Analysis (HMA) they return to their clients, which includes both Claritas data and their own research and expertise, breaks down the demographics of their member base and provides insight into financial product penetration, average loan and deposits balances, and which branches are Hispanic market leaders in their area.

Coopera Consulting also offers a Hispanic Outreach Program powered, in part, by Claritas data. This program aids CUs in their quest to better understand growth communities. After conducting a study with CUNA, the trade association for the industry, Coopera was able to visualize CU performance prior and following the implementation of the Hispanic Outreach Program. Ultimately, they found increases in average member growth, yearly deposit growth, and yearly loan growth. They also found the average yearly net charge-off ratio of CU clients decreased. Going forward, Coopera Consulting will continue to leverage Claritas data to help clients grow to meet their goals.

Before and After Joining the Hispanic Outreach Program

Average yearly member growth:
– 2 years prior +3.86%
– 1 year prior +2.38%
– 1 year after +4.54%
– 2 years after +9.03%

Average yearly deposit growth:
– 2 years prior +5.08%
– 1 year prior +4.83%
– 1 year after +7.13%
– 2 years after +11.60%

Average yearly loan growth:
– 2 years prior +7.73%
– 1 year prior +6.47%
– 1 year after +13.17%
– 2 years after +17.39%

Average yearly net charge-off ratio:
– 2 years prior -0.59%
– 1 year prior -0.52%
– 1 year after -0.37%
– 2 years after -0.32%