Esri Business Analyst and Data Will Help Analyze Growth, Product Offerings
Navy Federal Credit Union, the world’s largest credit union, headquartered in Vienna, Virginia, has licensed Esri Business Analyst software and an extensive array of business data to support its expansion strategy over the next several years. First organized in 1933 with only seven members, Navy Federal has grown to more than 3.6 million members and $44 billion in assets. To meet membership growth demands, the credit union will leverage the Business Analyst platform to optimize its network of bank branches and decide on a distribution strategy for financial services products.
Navy Federal will use Business Analyst to gain a better understanding of its members and competition as it looks to identify expansion opportunities. The credit union wanted to ensure that it had a solution that was able to provide different modeling scenarios, such as the effects of cannibalization on existing branches.
Its field of membership includes all US Department of Defense personnel and contractors, other US government personnel assigned to or stationed at the Department of Defense installation, and family members of both.
“Navy Federal is a shining example of how businesses that know their community well can apply geographic knowledge to serve them even better,” says Simon Thompson, director of commercial business at Esri. “This innovative organization has built a business based on loyalty, service, and understanding client needs. Working together, we have created an ideal match between two companies that have the same client and employee values.”
Navy Federal is currently implementing Business Analyst along with Esri’s Traffic Counts and Banking Potential datasets. Esri partner 4CTechnologies, located in Pittsburgh, Pennsylvania, is providing training to staff members, as required by Navy Federal, to ensure that they are able to apply the technology to their marketing analysis regardless of software experience levels.
For more information on how commercial businesses use geographic information system (GIS) technology, visit esri.com/business.
[Source: Esri press release]