DALLAS -- TNB Card Services, the card portfolio purchasing and management arm of credit union owned Town North Bank, has issued a white paper that the firm hopes will help more CUs improve their credit card programs. Credit unions which issue cards have seen an uptick in their card performance for a few quarters now, but TNB said that there were still CUs which need to tweak their card performance even more.
Turning a Card Program into a High Performing Asset runs 14 pages and seeks to show CUs how they can better manage attrition, control risk and boost card income through revising their card usage and fees. It also discusses how to evaluate card offerings and pricing and what to look for when considering offering or upgrading a rewards program.
"High performing credit card programs average 18 percent penetration of the member base and 10 percent product yield," said Dusty Bowers, senior vice president and client relationship manager of TNB Card Services. "This white paper outlines the best practices for credit unions to develop a card program that will drive usage and balances, attract more cardholders and deliver improved revenue."