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Wescom selects SAS to improve credit risk managementCARY, NC (Mar. 03, 2008) – With rising delinquencies and credit losses nationwide, it is imperative that credit unions take a more global view of credit risk from a portfolio level. With this issue in mind, Wescom Credit Union, one of the largest credit unions in the US, chose SAS, the leader in business intelligence, to help better forecast portfolio credit loss. More precisely predicting future loan losses – a key component to Wescom’s business plan – will help to improve proactive risk management. “Historically, lenders have viewed credit risk management at the loan level by setting loan-level credit criteria,” explained Anna Mendez, Chief Credit Officer and Senior Vice President for Wescom. ”We need to better understand risk at the portfolio level. Better forecasting of how portfolios will perform in the future is critical to Wescom, especially with the fluctuating economic conditions and ever-changing loan characteristics. Our objective is to elevate credit risk management to the same level of scrutiny and diligence that interest rate risk management has obtained in years past.” “We know that SAS is one of the premier risk management software companies,” said Mendez. “With SAS, we expect to more accurately assess how much current and future risk we have embedded in our individual loan portfolios and determine where adjustments may be needed.” With SAS® software, Wescom hopes to more effectively balance risk across all portfolios. In addition, the credit union will be able to utilize the information within their collection strategies and collect according to forecasted portfolio losses rather than by risk score, which is just one indicator of potential losses. “Given the current volatile economic environment, understanding the makeup of your risk profile is crucial for any business,” said Mendez. “Having a good understanding of that is a significant competitive advantage, now more so than ever before.” About Wescom Credit UnionWescom Credit Union is one of the largest credit unions in the country with $3.9 billion in assets. It is a not-for-profit, financial services cooperative serving more than 315,000 members at 56 branches throughout Southern California. Credit Union members have access to more than 25,000 free ATMs nationwide and a wide range of financial services, including free checking and free online bill paying. Membership is open to people living and working in Los Angeles, Orange, Riverside, San Bernardino, Santa Barbara, San Diego and Ventura counties. Wescom was established in 1934 as a credit union for telecommunications employees.
SAS is the leader in business intelligence and analytical software and services. Customers at more than 44,000 sites use SAS software to improve performance through insight from data, resulting in faster, more accurate business decisions; more profitable relationships with customers and suppliers; compliance with governmental regulations; research breakthroughs; and better products and processes. Only SAS offers leading data integration, storage, analytics and business intelligence applications within a comprehensive enterprise intelligence platform. Since 1976, SAS has been giving customers around the world
The Power to Know®
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