How do you define “Active” and “In Good Standing”?

I was sitting in a room with nine participants from seven different credit unions across the network for our second Asterisk Intelligence week in 2018, and the audience brought up the topic of how to define an “active” member and how to define a member “in good standing”. The logical test to see if we all had a consistent approach was to go around the room and have each attendee provide us with their definitions. As you can imagine, we received multiple different answers and even some needed to refer back to their teams to discuss further.

How does your credit union define a member that is “active” and how does it vary based upon the analysis that you are performing? How do you define a member that is “in good standing” and how does that vary based upon the analysis that you are performing? Are you removing members with a deceased date from receiving your marketing material? Are you removing dormant members from your campaigns? Are members who have opted out of communications been removed from any outbound campaign/promotional materials? Is an active online banking member a member that logs in at least once a month? Twice a month? Once a week? These are the questions that we each need to answer to ensure that we are collecting and analyzing the correct data.

I suggest that credit unions define what their approach is and then create a set of rules (via the CU*BASE Report Builder tool…) that can be used for any data that is created. This helps to soothe the engine of creating data, because the credit union has already agreed upon the parameters for both what an “active” member is and what it means to be “in good standing”. This also helps to take the guesswork out of the equation when creating/analyzing data to ensure that data creation and analysis can continue on with an agreed upon routine.

P.s. Our second Asterisk Intelligence week is going great. It is a time for all types of analysts, whether they be entry-level, novice, or experts, to discuss how they are creating data today utilizing the CU*BASE Report Builder tools, CU*BASE dashboards, etc. We plan to offer 4 weeks of Asterisk Intelligence-focused training in 2019 and we hope to see you there.