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­1st Community Federal Credit Union Invests in Data Analytics CUSO, OnApproach

Posted by Mark Portz on Aug 3, 2017 12:07:00 PM

Minneapolis, MN (August 3, 2017) – OnApproach (www.onapproach.com), the leading provider of Big Data and Analytics for credit unions, is excited to announce 1st Community Federal Credit Union of San Angelo, TX has invested in OnApproach, a Credit Union Service Organization (CUSO). In addition to investing, 1st Community Federal Credit Union had also selected OnApproach as its Big Data/Analytics Provider in May of 2017.

Bill Nikolauk, CEO, 1st Community Federal Credit Union, stated, “OnApproach’s vision for the financial services industry is revolutionary and provides a very bright opportunity for not only 1st Community Federal Credit Union, but the credit union movement as a whole. Credit unions are built on collaborative principles, and collaborative data analytics is the next major step the industry must strive for so we can improve decision-making through data. Therefore, we are proud to be supporting OnApproach in their efforts to provide a standardized enterprise analytics solution to credit unions.”

Credit unions are facing significant challenges in the form of fintech startups, disruption, digitization, and evolving member expectations. It is vital for credit unions to understand the role of data and analytics in financial services today. In order to continue to compete in this industry, credit union executives must understand the significance of analytics and creating a data-driven organization. For decades, credit unions have faced challenges, and collaborated to solve problems with solutions such as shared branching and ATM networks. Data analytics is the next major step for credit unions to continue to compete in financial services and improve member service, and again, collaboration will help credit unions to achieve advanced analytics capabilities.

As a CUSO, OnApproach is fully committed to providing credit unions with the most robust and affordable Big Data & Analytics solution. Paul Ablack, CEO of OnApproach, stated, “We appreciate the support from 1st Community Federal Credit Union. It is exciting to work with another organization that understand the value of their connected data and actively strives to ensure a bright future for credit union members.”

About OnApproach

OnApproach is a CUSO that focuses on providing credit unions with the power to use data as a competitive advantage both independently and cooperatively.  With OnApproach, credit unions can now harness the value of Big Data/Analytics through integration, advanced reporting, and predictive analytics.  This deeper understanding of data allows credit unions to discover vital trends in member behavior, resulting in improved financial performance, reduced risk, and enriched relationships with members.

Contact Information

Austin Wentzlaff, Director of Business Development

austin.wentzlaff@onapproach.net 

(888) 523-6121 Ext. 110

www.onapproach.com 

About 1st Community Federal Credit Union

1st Community FCU was chartered June 8, 1953, with our first office located on Goodfellow Air Force Base in San Angelo, Texas. We have grown to our current eight offices, with three in San Angelo and one each in Ballinger, Eldorado, Fort Stockton, Midland and Crane, Texas. We are a full-service financial cooperative providing friendly, personal service face-to-face, over the phone, through the Internet, or by mail. Our user-friendly technology makes it possible for us to serve our over 21,000 members located worldwide.

Contact Information

Bill Nikolauk, CEO

https://www.1cfcu.org/

bnikolauk@1cfcu.org

 Credit Union Data Analytics, Beginning the Journey: Read the Whitepaper

Topics: Big Data Investment

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