The Center for Business Analytics at Loras College is proud to recognize Dupaco Community Credit Union as the 2016 Business Analytics Innovation Award recipient for demonstrating excellence through its consumer-centric campaign that paid real dividends to its members. Sponsored by TH Media, award winners are chosen based on the description of a business analytics project, process or concept that was implemented by their company and the tangible economic, social or environmental impact it demonstrated.
Dupaco, with 19 offices in Iowa, Wisconsin, and Illinois, developed and implemented a comprehensive, data-driven marketing campaign – the GreenBack Impact initiative – centered on saving its members a collective $1 million in interest. Determined to make the initiative work, the credit union promised to distribute $25,000 in bonus dividends to participating members if it reached its goal. Publicly declaring a goal and tracking that progress in real-time increased the stakes and put its reputation on the line. In addition, the campaign encompassed nearly 350 employees across 19 branches in eight market areas. More than 86,000 of its members and those in the community were eligible to participate.
In response, Dupaco employees saved 1,300 members more than $3.5 million in interest within a four-month period by refinancing loans that originated from other lenders. This amount was 356% over the goal of $1 million in interest savings.
Dupaco received the Innovation Award during the 2016 Business Analytics Symposium, the largest of its kind in Iowa, held March 16 at the Grand River Center in the Port of Dubuque. The conference, hosted by Loras College’s Center for Business Analytics, explores how organizations can use data to turn performance and ideas into innovation while prominent practitioners share case studies, explore real problems and find solutions.