Unique Data Management

Design your own database by customizing data to your unique needs

Member Relationships | Lending Optics | New Member Analytics

Customized fields via Unique Data Management (UDM) were developed by Asterisk Intelligence to support flexible data analytics and database strategies.

The Concept of Customizing Data

Consider the power of tracking customized information about a member’s life events and relationship with you…

Discussions about data analysis strategies within credit unions usually revolve around the possibilities of the insights from observing and examining data about your members and their interactions with your credit union. But eventually the conversations tend to circle back around to more questions that could only be answered with details about what your member is doing outside the credit union.

For the first time in CU*BASE, Unique Data Management – Custom Fields allows database managers, marketers, lenders, and front-line staff to branch out from the traditional name-rank-and-serial-number details in CU*BASE membership files to log social, relationship, and lifestyle data to use in member service and analytics.

Use these custom membership fields and the custom account fields to “fill in the gaps” in member accounts and to give your credit union data analysts and thinkers a new opportunity to design the core processing database of the future. You have the controls and can create these customized fields in-house!

Unlimited opportunity

Create and maintain unlimited custom membership information fields that are unique to your credit union.

You define the field name as well as the rules that control what data can be entered: dollar amounts, quantity, percentage, text, yes/no checkbox, date, or a defined list (the selections of which you will also define).

Here’s How Credit Unions Use it:

What have you always wished you knew about your membership? There’s no limit to the imagination with Custom Fields!

  • Which college is your student member attending? What year will/did they graduate?
  • Who attended your last Annual Meeting?
  • Is there a specific savings goal (target balance) in mind for this account
  • What are the key details (rate, balance, and institution) of the outside loan you just captured?
  • Can you split the membership into dog lovers, cat lovers, or neither?
  • How many kids does your member have? Grandkids?
  • Is your member a veteran? What branch of the military? Served when?

Getting Started in 3 Easy Steps

  1. Tool Access – You will need to request access to the following tools from your credit union Security Officer:
    1. 1060 – Configure Custom Fields – Membership
    2. 1065 – Configure Custom Fields – Account

    Don’t forget all credit unions have access to the Bedrock training environment – a great option for exploring if you want to try out the feature before creating your own plan for it.

  2. Plan and Document! – Formalize your strategy and any rules for using custom fields on either the membership- or account-level. Your custom data fields will see the greatest success if forethought and planning have gone into ensuring the following:
    1. Quality – Consistent formatting and purpose is identified for each field
    2. Management– Who will configure and maintain these fields? Who will train internal staff on location, use, and rules? How often will data fields be reviewed for purge or updates?
  3. Testing & Training – A period of testing should be considered before introducing front-line staff to any requirements for using your new Custom Fields. Once ready, an introduction to the fields is needed for any staff who will be required to use them, including the location of Custom Fields on a membership and the workflow to update or add an answer.

Contact Asterisk Intelligence for information about beginning to use Custom Fields at your credit union, or for assistance with recommendations and training.

Notes on Workflow

Entering the Data

Employees can enter in their answers for the custom fields via either Membership/Account Update options or in the New Member opening processes. Note that the Account opening process does not include an option for entering custom fields. However, opening and updating sub-accounts can occur within the same tool and it is very simple to switch over to the update section once a sub-account is created.

Viewing the Data

Any employee can view custom field entries via the main Inquiry and Phone Operator screens for any membership and account.

Updated
December 19, 2017

Don’t Miss This Week’s Proving Data Strategies: Product Diagnostics and Utilizations

Don’t Miss This Week’s Proving Data Strategies: Product Diagnostics and Utilizations

When does a product or service become “saturated” in your  membership?  Is there a benchmark of product penetration to aim for?  What are the current penetration rates on an existing or new product and service?  Are there notable utilization and engagement patterns on specialty products like a Christmas Club, a Round-Up debit card program, or… Read more »

Oct 19, 2020

Proving Data Strategies: Product Diagnostics and Utilizations

Proving Data Strategies: Product Diagnostics and Utilizations

When does a product or service become “saturated” in your  membership?  Is there a benchmark of product penetration to aim for?  What are the current penetration rates on an existing or new product and service?  Are there notable utilization and engagement patterns on specialty products like a Christmas Club, a Round-Up debit card program, or… Read more »

Oct 15, 2020

Design Your Own Database Solutions with Unique Data Management!

Design Your Own Database Solutions with Unique Data Management!

Unique Data Management (UDM) custom fields is a design-your-own-database solution for customized data points!  Use UDM fields to expand the collection of information you and your staff know about a member and the products they use.  Want to learn best practices for configuring custom fields in CU*BASE, or looking for tips on generating and custom field… Read more »

Oct 7, 2020

“Proving Data Strategies” web video series now available OnDemand for free

Asterisk Intelligence, a data analytics team at CU*Answers, now has ten sessions of their 2020 web series “Proving Data Strategies” published online and available for on-demand viewing. The end of the series’ 2020 schedule is approaching, but each web event will continue to remain accessible for free on the OnDemand website. Proving Data Strategies is […]

Sep 30, 2020

Don’t Miss This Week’s Proving Data Strategies: Transactional Analysis

Don’t Miss This Week’s Proving Data Strategies: Transactional Analysis

How has your members’ transactional behavior changed over the last 3, 6, or 12 months?  How are members utilizing their credit and debit cards, digital channels or your teller line to conduct their business?  Analyzing transaction activity can provide excellent insights into member engagement with the credit union, provide clues indicating financial distress, as well… Read more »

Sep 28, 2020

Proving Data Strategies: Transactional Analysis

Proving Data Strategies: Transactional Analysis

How has your members’ transactional behavior changed over the last 3, 6, or 12 months?  How are members utilizing their credit and debit cards, digital channels or your teller line to conduct their business?  Analyzing transaction activity can provide excellent insights into member engagement with the credit union, provide clues indicating financial distress, as well… Read more »

Sep 24, 2020

Don’t Miss This Week’s Proving Data Strategies: Analyzing Plastics Portfolios

Don’t Miss This Week’s Proving Data Strategies: Analyzing Plastics Portfolios

Plastics portfolios can be analyzed from a few angles – 1) Plastics as a member tool, or 2) The financial impact to your credit union.  Learn how to review your portfolio’s member activity to trend the activity over time and identify inactive users.  Measure seasonal or situational impact to transaction volumes and consider options for… Read more »

Sep 14, 2020

Asterisk Intelligence completes research analysis for Cumberland County FCU

Asterisk Intelligence, a data analytics team at CU*Answers, has completed a research analysis that evaluates changes in fee refunds and fee waivers to explain and confirm the historical fee income trend. The analysis was commissioned by Cumberland County FCU. A typical research analysis starts with an anomaly or unexpected finding noticed in the credit union’s […]

Sep 14, 2020

Proving Data Strategies: Analyzing Plastics Portfolios

Proving Data Strategies: Analyzing Plastics Portfolios

Plastics portfolios can be analyzed from a few angles – 1) Plastics as a member tool, or 2) The financial impact to your credit union.  Learn how to review your portfolio’s member activity to trend the activity over time and identify inactive users.  Measure seasonal or situational impact to transaction volumes and consider options for… Read more »

Sep 9, 2020

Don’t Miss This Week’s Proving Data Strategies: Analyzing Non-Interest Income

Don’t Miss This Week’s Proving Data Strategies: Analyzing Non-Interest Income

Non-interest income is an essential factor to evaluate when studying the credit union’s income streams and the impact of policy changes.  What is the trend on total income for each source of non-interest income?  Is any source yielding less than normal and is that expected?  How have recent fee waiver policy (or configuration) changes impacted… Read more »

Aug 31, 2020