We have more information and data readily available today than generations past - whether it’s by the click of a mouse or tap of a screen. But, as stated by our CEO in Star Tribune’s Affinity Plus Federal Credit Union enhances service through data analysis, “it’s really what you do with it that matters.”
Affinity Plus members have already felt the difference in their wallets. Members have now saved more than $2.6 million by refinancing their mortgages because of the opportunities identified by this ‘big data.’ Saving this kind of money can have a great impact on the lives of our members. Some members are already planning what they are going to do with this unexpected extra cash.
“I am excited about the money we are going to be saving this member, all because of our member reach out program. By refinancing her home she will be lowering her monthly payment, paying off her mortgage faster, and saving on interest. Once she is done with that, she will be able to refinance her home equity loan to provide additional savings. Her high interest Discover credit card with a balance of $7,500 is going to get transferred to an Affinity Plus credit card at our low standard rate after that. That’s a combined savings of over $200 a month!" - Affinity Plus Mortgage Loan Officer
Employees are almost as excited as our members because it’s not just our member’s wallets that are being affected. These savings are allowing members to change their lives for the better.
“One of our members – a local bus driver who refinanced this week – came in last night. He got tears in his eyes and thanked me. It was such an awesome chat we had! He said he has never in his life had a financial (bank or credit union) call him and offer to help him save money. And he said this was such a gift, because he might actually be able to retire sooner than he thought. - Affinity Plus Employee
If you’d like to learn more about ‘big data,’ check out these articles:
CU Effect: Leveraging ‘big data’ helps CUs serve members better
Affinity Plus Federal Credit Union enhances service through data analysis