Ascend Federal Credit Union, the second largest credit union in Tennessee, was moving forward with its goal of becoming the state’s largest credit union and expanding their presence in the Nashville area. As part of their growth strategy, Ascend was interested in determining which areas of the Nashville market represented the best opportunities for expansion.
Alexander Babbage built a model which was based on Ascend’s existing branch performance and the demographics of potential members living throughout the credit union’s targeted footprint for expansion. The model was used to predict branch performance scores, which were then applied to the Nashville area to identify potential areas for growth. The model was also used to analyze potential expansion sites which had previously been identified by Ascend.
Through a statistically valid approach, Alexander Babbage was able to help Ascend systematically evaluate and prioritize brand re-fits/re-builds, branch re-locations and new branch development.