Hiway Federal Credit Union Increases Total Assets by 25 Percent, Increases Membership by 7.6 Percent with Help from Baker Hill®’s Business Intelligence Solution

Business intelligence and profitability insights promote
enterprise-wide improvements, easier examinations

CARMEL, Ind.–(BUSINESS WIRE)–Baker
Hill
, a leading provider of technology solutions for common loan
origination, relationship management and smart data analytics, announced
that its business intelligence solution, Baker
Hill® ProfitGen
, previously referred to as IDM
Online, has played a key role in St. Paul, Minn.-based Hiway
Federal Credit Union
’s (Hiway)
realization of a 25 percent increase in total assets from December 2010
to May 2016, while also growing its membership by 7.6 percent from
December 2010 to December 2015.

“Baker Hill’s solution has proven superior to our previous system that
relied on credit union industry averages rather than our own data,” said
Aaron Kastner, senior vice president of Finance. “We receive insights
based on the data from our product lines that shows how our members are
actually using those products. In doing so, it bridges the gap between
two departments that are traditionally disconnected – finance and
marketing – and provides us with a fully integrated, customized platform
that centralizes and highlights profitability data, allowing us to
manage mapping, campaign tracking and profitability—all within one
system.”

Baker Hill’s business intelligence and communications tool generates
dashboards customized for each financial institution executive’s roles
or department. The solution provides Hiway with detailed data to guide
its lending decisions, enabling it to onboard a greater volume of high
quality loans, evidenced by a more than $8 million reduction in the
credit union’s loan loss provision between 2010 and 2015.

Throughout the years, Hiway has used this technology to uncover
powerful, actionable insights and determine pricing and product
prioritization; for example, the solution revealed the strong
profitability of its credit card portfolio, allowing the credit union to
better understand this product’s return and how to invest moving
forward. The credit union also has greater confidence during visits from
examiners by quickly and easily producing specific data points upon
request. In addition, ProfitGen delivers input assumptions on the spot
to address examiners’ growing interest in the decisions and strategies
for prospective new product launches.

“Financial institutions should be leaning on sophisticated analytics to
truly strengthen relationships and increase wallet share, and Hiway
Federal Credit Union is a great example of how innovative use of data
can drive profitability,” said Naseer Nasim, CEO of Baker Hill. “Growth
strategies shouldn’t be determined by guesswork when executives can
access a 360 degree view of profitability at both the product and the
member level. With our data analytics, Hiway is optimizing its own data
and can pinpoint actionable data, which has not only expanded its reach
as an institution, but promotes a higher level of member service.”

About Hiway Federal Credit Union

Hiway Federal Credit Union was founded in 1931 to serve the employees of
the Minnesota Highway Department. Today, Hiway serves over 63,000
members in Minnesota and around the country, registers $1 billion in
assets and welcomes new membership from individuals and small
businesses. Hiway offers its members unparalleled member service and a
lifetime of savings through lower loan rates, higher savings rates and
fewer and lower fees.

For more information, visit www.hiway.org
or follow them on Facebook,
Twitter
and LinkedIn.

About Baker Hill

Baker Hill empowers financial institutions to work smarter and drive
more profitable relationships. The company delivers solutions that
streamline origination and portfolio management for business, consumer
direct and indirect lending. Baker Hill also delivers sophisticated
business intelligence and revenue enhancement solutions that support
sound business decisions to mitigate risk and generate growth. Baker
Hill is the #1 provider of member business lending services, serving 600
financial institutions, including more than 20% of the top 150 U.S.
banks and 20% of the top 25 U.S. credit unions. For more information,
visit www.bakerhill.com
and follow the company on Facebook,
Twitter
and LinkedIn.

Contacts

William Mills Agency
Sheryl Gudelsky, 678-781-7229
Sheryl@williammills.com