The use of contact data is changing for credit unions. Today, financial institutions are using contact data to ensure that communications reach members and prospects, but, perhaps more importantly, those institutions are also leveraging contact information to better understand their members through database consolidation and a single member view. 

According to a recent Experian QAS study, 90% of financial institutions stated they will eventually attempt a single member view, more than any other vertical surveyed. A consolidated view, containing various pieces of information from the member's mailing address to their account history, gives institutions a better understanding of each individual member and their relationship with the credit union.

This single member view can provide many business benefits, from member service to marketing. First, it allows credit unions to successfully consolidate member account history and determine which marketing offers are most relevant to a given member. In addition, it improves member perception, overall business intelligence and efficiency.