The $1.6 billion, 148,000-member ORNL Federal Credit Union saw its credit card balances climb by 63% in the past three years, according to the NCUA's records, as well as executives from the credit union and the St. Petersburg, Fla.-based payments CUSO PSCU.
Its secret? ORNL FCU put a single manager in place to oversee the program.
The Oak Ridge, Tenn.-based cooperative also saw its credit card accounts nearly double since it adopted a single manager strategy in 2012, increasing from 13,000 accounts at the end of 2012 to 25,000 accounts as of June 2015, according to the NCUA's records.
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