Despite widespread recognition of their importance to an overall loan portfolio, credit cards remain far too mysterious to far too many credit unions, according to consultants that work with credit unions on credit card management.
Just when it might become more important than ever to be able to track the interchange that debit transactions generate for credit unions, many, if not most, may have not begun to uncover their debit programs’ bottom lines.
Awareness and ownership, risk vs. reward and know thy members. All this can pay off in the card portfolio, these experts say.
Card management consultants working with a payment processing CUSO and association are working to convince credit unions to look more deeply into their card members data to help the credit unions improve their card portfolio management decisions.
This in-depth look at how Big Data can help the cards portfolio is a preview from next week's print edition.
Credit cards continue to be among the most productive but little appreciated credit union assets, according to executives whose job it is to help credit union learn to manage their card portfolios more profitably.