Case Study: Ideal Credit Union achieves automated financial reporting and analytics with BankBI

Ideal Credit Union - Customer Case Study

Ideal Credit Union, a Minnesota-based credit union with $700 million in assets, sought to automate its financial reporting to eliminate the risks and inefficiencies of its manual, Excel-based processes. To achieve this, the credit union engaged BankBI, a partner of its existing data warehouse provider OnApproach, to implement the BankBI Financial Performance and Banking Performance applications.

BankBI implemented a proof of concept that perfectly mirrored the credit union's chart of accounts and delivered it through easy-to-consume dashboards. Following its success, BankBI built a customized production environment that provided granular, impeccable reporting for daily dashboards and a monthly board pack. The solution automated reporting, dramatically improved data presentation at all levels, and eliminated manual errors, leading the credit union to also plan a similar transformation for its loan and deposit reporting with BankBI.

Ideal Credit Union

Dennis R. Bauer

EVP and Chief Financial Officer