DES MOINES, IA (May 8, 2013) To perform in-depth analysis of the 113,000-member credit union’s credit card portfolio, Spokane Teachers Credit Union (STCU) has engaged The Members Group’s (TMG) data analytics partner IQR Consulting (IQR). IQR’s data analysts will review STCU’s cardholder segments and make actionable recommendations for promotional campaigns based on the credit union’s unique opportunities, cardholder behaviors and portfolio growth objectives.
“We have a strategic plan in place for the growth of our credit card portfolio with very specific and aggressive milestones we want to hit,” said Danny Jones, STCU’s director of remote services. “With the help of our partners TMG and IQR, we now have access to the kind of analytical brainpower that promises to improve our response rates. We’re excited by the potential to not only achieve our desired results, but to realize efficiencies in our marketing effort.”
Jones added that IQR will guide the development of three highly targeted marketing campaigns to run in the summer, fall and winter months of 2013.
According to IQR Director Karan Bhalla, his firm does not stop at credit cards. “Although card programs are virtual data goldmines, financial institutions have many other programs from which data can be mined to provide valuable insights into their customers’ behavior.” He points out that the analysis firm has competencies in many other areas of a financial institution’s operations and marketing programs, and works with credit unions and banks of all sizes across the product spectrum.
TMG announced an equity investment in IQR in 2012.
About IQR Consulting
IQR Consulting is a leader in portfolio and financial analytics, reporting, statistical modeling and campaign management. The analysts at IQR are experts in the use of segmentation as a means for highly targeted marketing. With accurate and actionable insights and analysis, IQR helps credit unions, banks and casinos leverage data assets to increase profitability and to better compete against larger institutions. For more information, visit www.iqrdataanalytics.com.
About TMG
The Members Group (TMG) is dedicated to creating customized, technology-driven card processing and payment solutions for credit unions and community-based financial institutions across North America. Innovations in fraud management, loyalty programs, alternative payment systems and analytic reporting, and the competitive advantages they create, have helped TMG forge a new standard in offering cutting-edge credit, debit, ATM, prepaid card products and a P2P payment solution. For more information, visit www.themembersgroup.com.