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Overview

As the largest credit union in Vermont, New England Federal Credit Union (NEFCU) serves over 89,000 members. Helping those members improve their financial lives by making sound financial decisions has always been part of the company’s mission.

As a credit union, NEFCU aims to help members reach financial goals, whether that means saving for retirement, protecting their family, or buying their first home. To help members along those financial journeys, the credit union needed software that would help track the outcomes of  members’ goals. NEFCU had already worked with Aerie Consulting on building their SharePoint platform. Now they wanted more robust analytics on the backend, tools for the frontline staff to record members’ goals and needs, and a record of steps the credit union has taken to provide solutions for them.

“Dan Sonneborn from Aerie Consulting showed us Microsoft’s business analytics tool, Power BI. We saw that as a potential solution for building out the analytics for our member relationship development initiative,” said Jim St. Peter, Chief Information Officer.

Aerie provided education and guidance to NEFCU staff who leveraged these new skills to develop a customized Power BI solution to manage the credit union’s unique data needs.

Bank teller and member

Challenge

NEFCU wanted the new system to give staff the ability to track their interactions with members. That information was invaluable to the company because they could use it to compare the actions staff executed in response to the members’ financial goals.

NEFCU’s Power BI solution allows the credit union to leverage their data in any number of ways, such as determining reasons members left, developing strategies for deepening relationships, and producing more personalized marketing.

“With Aerie’s help, and the Power BI solution we developed, the possibilities for converting data to actionable strategies are endless,” said Jim.

James St. Peter

"With Aerie’s help, and the Power BI solution we developed, the possibilities for converting data to actionable strategies are endless.”

Jim St. Peter
Chief Information Officer

Solution & Results

Aerie conducted a class at NEFCU that trained business analysts on developing Power BI dashboards that are integrated with the company’s existing SharePoint intranet and Core banking platform. Staff learned to create visual data, develop data measures, and turn the data into usable information.

Working with Aerie was a hands-on experience, tailored to each employee’s individual level of knowledge. “Dan was able to teach us in a way that all of us could understand,” said Cindi Lane, Business Intelligence Analyst.

“Power BI gives supervisors and managers access to data they didn’t have before. They can interact with the dashboards, and see how their branch or individual employees compare. The biggest takeaway is the access to member insights,” she added.

“We have the insights we’re looking for now,” Jim said. “It’s amazing to me how much more insight we have into how our members use NEFCU and the many ways in which we help them reach their financial goals. We can now track staff interactions with members and see how many of those interactions result in the discovery of other opportunities to help the member reach their goals. We can now covert data into actionable strategies because of the insights gained from our Power BI dashboards.”

NEFCU now uses Power BI data with the other tools Aerie built for them for gathering information, creating reports and dashboards, and analyzing performance and member values. These growth metrics measure the depth of relationships the credit union has with members, something they were not able to do before.

“They provided us the insights and tools we needed to develop a successful program,” said Jim. “Aerie delivers what they promise.”

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