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For member credit unions, another benefit of affiliation with the Maine CU League is access to CUAnalyzer, and its benefits are significant. CUAnalyzer is an online financial analysis tool that makes it easy to compare your credit union with local, regional, and industry peers based on criteria like asset size, financial performance, and business model. With 100+ pre-built graphs and displays and 25+ pre-built packets, it's easy to export data specific to your credit union to share with your team and board.
Maine CUs utilizing CUAnalyzer are finding it beneficial. "We find great value in the analytics that CUAnalyzer provides in addition to the ability to compare and contrast our results to our peers," stated Scott Chretien, President/CEO of York County FCU.
In an effort to help more Maine CUs get the most of CUAnalyzer in 2018, your League offers the following tips:
TIP 1: Set Your Peer Group
There is no right or wrong peer group to use. Our analyst team recommends a few to get started:
· Asset Size - compare your credit union to credit unions nationally of a similar size
· Geography - compare your credit union to credit unions in your city or state
· Business Model- compare your credit union to credit unions with a similar loan portfolio, branch network, or number of members served.
Click here to learn more about setting up peer groups.
TIP 2: Set Up Auto-Send For Key Reports Or Packets
We understand your time is valuable, which is why you can set reports to automatically send to you and your staff every quarter when new data is released each quarter. Click here to learn how to send reports automatically via email.
TIP 3: Sign Up For An Upcoming Training
Your League wants to ensure your credit union is maximizing the value it can get from CUAnalyzer. Sign up for the monthly training that is offered, to learn the most valuable tips, tricks, and shortcuts.
Sign up for the next training for CUAnalyzer on Wednesday, January 10 at 4:00 p.m., by clicking here.
To log-in to CUAnalyzer, click here. For more information, please contact Debra Trautman, VP of Corporate Marketing at the Maine CU League.