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CUBenchmarker
CUBenchmarker: Experience the difference of power benchmarking
New! Online credit union peer analysis
Now part of E-Scan online research portal. Click here to subscribe.
CUBenchmarker is a new approach to performance benchmarking. Unlike traditional benchmarking that analyzes just one variable at a time, CUBenchmarker lets you use multiple variables simultaneously to justify, direct, and identify performance goals for your credit union. CUBenchmarker can measure both resources committed to a product and the services resulting from these resources.
What makes CUBenchmarker unique?
- Uses multivariable analysis allowing you to analyze your entire business plan, plus take in account your credit union’s business environment and mission.
- Online access anywhere 24/7 with real time report generation.
- Quantifies the performance of your credit union in terms of the multiple resources needed to produce multiple products and services.
- Results in data analysis that clearly presents those credit unions achieving greater performance and tells the extent to which those credit unions are under and outperforming you.
- Identifies your credit union’s High Performing Peers; these are credit unions that produce more services/products with the same or fewer resources.
- Helps your credit union investigate issues and strategies for membership growth, employee compensation, branch effectiveness, traditional or simple efficiency, capital use, and more!
How does the credit union benefit?
- Obtain meaningful peer comparisons based on your credit union’s unique operating environment and business plan.
- Saves valuable staff resource time by compiling the data and generating clear and concise reports for the credit union.
- Improves operational efficiency by helping them identify performance weaknesses, strengths, and goals AND offering flexible capabilities for testing growth strategies and operational improvement plans.
- Provides the ability to compare alternative strategic business plans.
- Generates reports immediately when you need the data fast.
Traditional Benchmarking vs. CU Power Benchmarking
Benchmarking done incorrectly can be worse than not doing benchmarking at all. Poorly generated benchmarks can be misleading and move your credit union away from best practices. Management can make the wrong decisions under the cloak of a sophisticated methodology clothed with an array of figures and charts.
Here’s why traditional benchmarking can be problematic:
| Traditional Benchmarking | Why is this problematic? | CUBenchmarker - Power Benchmarking |
|---|---|---|
| Based on only a single variable. | A higher-ranking credit union in one variable could rank lower in another variable, making the comparison potentially meaningless. | Uses multivariable analysis. This delivers the most accurate peer comparisons and most comprehensive view of the credit unions strategy and performance. |
| May benchmark against inappropriate peers. | May include peers that have more resources and/or operate under more favorable circumstances; therefore it is not a fair comparison for performance. | Delivers meaningful best-practice peers. It finds true high performing peers by only selecting peers that can do more with less resources. |
| Only looks at the top performers. | Performance is a continuum and it is useful to obtain an overall perspective on where a credit union stands. You may not want to benchmark against the very best, but rather to a peer with attainable goals. | CUBenchmarker gives you the entire range of high and low performing peer comparison. |
CUBenchmarker reports can use any NCUA Call Report variable to fully customize the business model to your credit union. In addition, CUBenchmarker has identified the most popular business models. These include:
- Simple Efficiency
- Membership Growth
- Employee Compensation Productivity
- Branch Effectiveness
- Traditional Efficiency
- Profitability
- Capital Use
Or for more information, submit the information request below. You will be contacted by a CUBenchmarker specialist that will help answer your questions.
Additional Information:
By clicking submit, you are not ordering a CUBenchmarker Report. Someone will contact you to confirm your needs and the solutions provided by CUBenchmarker.
