Minneapolis, MN (October 20th, 2016) – OnApproach (www.onapproach.com), the leading provider of Big Data and Analytics for credit unions, is pleased to announce Our Community Credit Union has invested in OnApproach, a Credit Union Service Organization (CUSO). Our Community also selected OnApproach as its Big Data/Analytics provider in 2016.
“We are excited to support OnApproach and their industry-changing vision. At Our Community Credit Union, providing exceptional service is a high priority. We realize it is becoming increasingly both beneficial and necessary to utilize the full potential of our data to do so. OnApproach has made it possible for us to utilize our data through the robust integration platform, and we look forward to experiencing OnApproach’s effect on the entire industry” said Bert Fisher, President and CEO, Our Community Credit Union.
The credit union industry is on the cusp of a significant challenge with the potential to disrupt the financial services landscape as we know it. Big Data/Analytics is driving a new breed of analytic competitors (e.g. - Lending Clubs, Apple Pay, Rocket Mortgage, etc.) into what has been a very traditional marketplace. These new entrants are interested in skimming the profitable transaction side of the business while leaving the less profitable and highly regulated settlement side to the banks and credit unions.
As a CUSO, OnApproach is fully committed to providing credit unions with the most robust, yet affordable, Big Data& Analytics solution. Paul Ablack, CEO of OnApproach, stated “The management team at Our Community Credit Union brings unique perspective to the credit union industry and we appreciate the opportunity to collaborate. We are thrilled to have them as an investor.”
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 through industry data pools. 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.
About Our Community Credit Union
Simpson Employees Federal Credit Union was established in Mason County on December 3, 1941 by a group of loggers. Their vision to having their own credit union was to offer fair savings and loan rates to workers unable to get basic financial services from the local bank. Since then the credit union changed its name to Our Community Credit Union (OCCU) to better reflect the growing and diversified member base. In 2010, OCCU expanded its field of membership to include all residents in the state of Washington. OCCU has $329 million in assets, over 27,000 members and operates seven branches