CUNA Mutual Group and PenFed Credit Union, the nation’s second largest federal credit union with more than $23 billion in assets, today announced they will partner to offer wealth management and investment services to more than 1.6 million PenFed members through CUNA Mutual Group’s affiliate, CUNA Brokerage Services, Inc. (CBSI)

CUNA Mutual Group’s AdvantEdge Analytics today announced it has acquired, Finivation, a New York-based data systems integration and software company that offers real-time data integration for credit unions, community financial institutions and technology providers.

“It is important to emphasize that analytics is only one small piece of the solution — the most important piece is ‘activation,’” said Chris Nicholas, chief analytics officer of AdvantEdge Analytics. “In other words, the execution of the insights has as much value as the insights themselves.”

From a credit union perspective, mortgage lending at credit unions was down slightly in 2017, from $145 billion in 2016 to $141.5 billion in originations last year, a decline of about 2.4 percent, according to the March 2018 Credit Union Trends Report from CUNA Mutual Group.

“Credit unions today can increase loan balances not only with existing members, but also with many new members discovering for the first time all of the quality financial products and services of a full-service, modern-day credit union,” said Steven Rick, chief economist for CUNA Mutual Group.

“With the economy expected to add another 2.2 million jobs in 2018, credit unions should expect membership growth to exceed 3.5%,” said Steven Rick, chief economist for CUNA Mutual Group.

CUNA Mutual AdvantEdge Analytics announced today it will work with Microsoft to develop the next generation data platform for the credit union industry. The collaboration will not only create a standardized cloud-based platform for the industry, it will also enable credit unions to benefit from the scalability of leading technology and integration essential to a data analytics strategy.

“The eco system that exists around those big core systems is very fractured, and the credit union industry is already suffering from scale challenges and fragmentation. We see our role as bringing more interoperability, more integration and more standardization,” said Tim Peterson, president of AdvantEdge Analytics.

“Working with Microsoft is a major step in our continued commitment to delivering innovation to the credit union industry and strengthening for the future,” said CUNA Mutual Group President and CEO Robert N. Trunzo.

CUNA Mutual AdvantEdge Analytics announced today a partnership with Microsoft to create a standardized cloud-based platform for the credit union industry.