DUBUQUE, Iowa—The Center for Business Analytics at Loras College is proud to recognize Dupaco Community Credit Union as the 2016 Business Analytics Innovation Award recipient for demonstrating excellence through its consumer-centric campaign that paid real dividends to its members.
Sponsored by TH Media, award winners are chosen based on the description of a business analytics project, process or concept that was implemented by their company and the tangible economic, social or environmental impact it demonstrated.
“It’s always gratifying to recognize an organization like Dupaco that consistently strives to meet the needs of those they serve,” said Kimberly Roush, graduate marketing specialist for Loras College. “Dupaco used creativity and analytics to literally bring more value to their services. Those two words aren’t always used together when looking for solutions, but Dupaco demonstrated ingenuity to make a positive difference in the lives of its members.”
Dupaco, with 19 offices in Iowa, Wisconsin, and Illinois, developed and implemented a comprehensive, data-driven marketing campaign – the GreenBack Impact initiative – centered on saving its members a collective $1 million in interest. Determined to make the initiative work, the credit union promised to distribute $25,000 in bonus dividends to participating members if it reached its goal. Publicly declaring a goal and tracking that progress in real-time increased the stakes and put its reputation on the line.
“As a member-owned cooperative, Dupaco’s mission is to improve each member’s financial position,” David Klavitter, chief marketing officer of Dupaco, said. “The GreenBack Impact initiative was part of our ongoing effort to quantify and communicate the credit union’s value to members and the community.”
In addition, the campaign encompassed nearly 350 employees across 19 branches in eight market areas. And more than 86,000 of its members and those in the community were eligible to participate.
In response, Dupaco employees saved 1,300 members more than $3.5 million in interest within a four-month period by refinancing loans that originated from other lenders. This amount was 356 percent over the goal of $1 million in interest savings.
Dupaco received the Innovation Award during the 2016 Business Analytics Symposium, the largest of its kind in Iowa, held March 16 at the Grand River Center in the Port of Dubuque. The conference, hosted by Loras College’s Center for Business Analytics, explores how organizations can use data to turn performance and ideas into innovation while prominent practitioners share case studies, explore real problems and find solutions.
Call Roush at (563) 588-7140 or visit www.loras.edu/analytics for more information on Loras College graduate programs or the Center for Business Analytics.
About the Loras College Center for Business Analytics
The Loras College Center for Business Analytics is the region’s leading institution focused on professional and organizational enhancement through the use of data science and analytic techniques. The Center is designed to meet the continuing education needs of today’s savvy professional looking to enhance their analytical skills through an MBA in business analytics or a 10-week, online certificate program. For more information, please visit analytics.loras.edu.
About Dupaco Community Credit Union
Dupaco Community Credit Union is a not-for-profit, member-owned financial cooperative. It is dedicated to the financial sustainability of its members, and specializes in customized financial counseling, money advice and education. It offers savings, loans, investments, insurance and wealth management products for individuals and businesses. Dupaco serves residents in 42 counties throughout eastern Iowa, northwest Illinois and southwest Wisconsin. Chartered in 1948, membership totals more than 90,000 with assets exceeding $1.3 billion. For more information about Dupaco, call 800-373-7600, ext. 2266 or visit www.dupaco.com.