Member Advocacy: Why Aren’t CUs Utilizing Information Assets?
Fairfield, CA and Washington, D.C. (March 3, 2020) —Just released last week in the exhibit hall during the Credit Union National Association’s Governmental Affairs Conference (GAC), a new “idea brief” published by Alt + F0 explores how credit unions can be advocates for their members by implementing information governance.
The idea brief — “Implementing Information Governance in an Era of Uncertainty” — argues that many credit unions are opting to watch others in the financial services arena embark on this fresh analytical journey even though information governance can propel credit unions deeper into their members’ lives. Only a few within the credit union industry are realizing it takes a numbers-oriented perspective and connectivity mindset to see members in an entirely different light.
“This is where information governance takes a stand on behalf of members,” the idea brief states. “As consumers and owners of the institutions serving them, each member leaves behind a unique footprint in all aspects of his or her financial life. By replicating that activity over several months and years, an integrated network of data trails and financial household history comes to view.”
Industry leaders engaging with Alt + F0’s team during GAC were reminded that credit unions can work together to build on this knowledge differently than in year’s past as they draw from the industry’s one-team philosophy and collaborative nature. While cooperative resources, credit union service organizations (CUSOs), and other industry initiatives are imperative to succeeding, any credit union can start implementing information governance on its own by using fundamental concepts contained in the idea brief as a launchpad to accessing its information assets.
View “Implementing Information Governance in an Era of Uncertainty” to explore the following:
- Information Governance is Not a Burden — It’s a Benefit
- Monetizing Information Assets
- Stale Member Data is Risky Data — So Put it to Work
- Targets for Penetration and Lateral Movement
- Member Information Has Value — Identify and Employ it Appropriately
- Ensuring Confidentiality, Quality, and Integrity
- It Starts with Connecting the Five Core Areas
- Business Operations and Value
- Privacy and Security
- Information Technology
- Records and Information Management
- Legal Holds
About Alt + F0 and Maria Martinez-Carey
Maria Martinez-Carey (firstname.lastname@example.org) is founder and principal of Fairfield, CA-based Alt + F0, an Information Governance (IG) solutions provider dedicated to helping credit unions build and utilize Information Governance systems to manage and leverage the lifecycle of member data through its LOCK software service (SaaS) and other solutions.