Credit Unions Encouraged to Join NWCUF March 17 for Meeting Member Needs: Using Data to Drive Impact
Posted by Ben Shuey on February 16, 2021
Northwest credit unions are focused on finding innovative ways to improve people’s financial well-being by offering the right products and services at the right time.
While credit unions are deeply connected to their communities, data can bolster credit unions’ strategic decision-making, helping them reach more people who need access to the right financial services. The United Way’s annual state-by-state ALICE (Asset Limited, Income Constrained, Employed) reports provide much of that data, diving into current economic conditions in Idaho, Oregon, and Washington. ALICE encompasses the portion of the population that earn incomes above the federal poverty level, but below the level required to afford basic household necessities.
On March 17, the Northwest Credit Union Foundation and the United Way will present the latest ALICE reports during the event, Meeting Member Needs: Using Data to Drive Impact. Credit unions from each state will have an opportunity to participate in state-by-state breakout sessions, where they’ll hear more about their state’s ALICE report and discuss effective ways to use the data.
“ALICE data is rich with information and can be extremely beneficial for credit unions, as they are the best partner to provide the financial services people need to live healthy, fulfilling lives,” said NWCUF Executive Director, Sharee Adkins. “And now, more than ever, this data is critical, as people work to rebuild.”
ALICE data delves into the hardships faced by people across each state, examining the day-to-day expenses they grapple with, including housing, healthcare, food, childcare, education, and transportation costs. Reports also break down each state’s demographics on several levels, examining the evolving economic landscape, the labor force, wages, and impacts felt by those lacking technology and internet access.
“With this information, credit unions can further strengthen their strategies around supporting low-wage and economically disadvantaged populations,” Adkins said. “Credit unions are encouraged to attend and find out how they can use ALICE data in their day-to-day operations.”
The Northwest Credit Union Foundation serves as a partner to credit unions, providing them with resources that help amplify their community impact. Throughout 2021, NWCUF will continue to provide opportunities for credit unions to come together to discuss their communities’ needs and collaborate on solutions.
Meeting Member Needs: Using Data to Drive Impact will be held from 9:30 to 11 a.m. PDT, 10:30 a.m. to 12 p.m. MDT. Registration and each state’s report are available online.
For more information, contact NWCUF Program Director, Claire Hendrix.
Posted in Community Impact.