At some point every Credit Union has looked at adding a branch or ATM. These are significant investments and the Credit Union will often invest time and money to make sure it is making the best choice possible. Trying to evaluate member location, census data, current branch locations, locations of your competitors inside of a spreadsheet is a nearly impossible task. A CU may go to a third party to purchase an analysis or report, but the information is static and can be costly to re-purchase each time you need to update the evaluation.
The CFS Geospatial model will automatically geocode your members addresses daily, geocode your branches and ATM for both the CU and its competitors. Census and FDIC data is also integrated and is able to use additional layers. This can all be seen in single, interactive dashboard that is refreshable daily. The Credit Union will be able to:
– Pinpoint exactly which members are within a certain distance of branch
– Identify which zip codes or census tracts are growing vs. shrinking
– Identify whether clusters of the Credit Union competitors exist in a certain area.
Instead of engaging a specialist firm where the Credit Union has no control over the analysis or the outcome, this model gives the control back to the Credit Union and allows them to interrogate the data until they get the insights needed to make the best decision.
