Roughly fifteen months after the Durbin amendment went into effect, the controversial legislation that capped debit card interchange for issuers with over $10 billion in assets has painted a mixed picture for most credit unions.
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.
CSCU analysts say that roughly 15% of a credit union's members on average use that credit card.
Moving transactions from ACH, checks and cash to debit cards helps credit unions both reduce their costs and improve their revenues.
The 50 represent 1.1 million card accounts. CSCU counts 2,700 credit unions as members.
A white paper published by Card Services for Credit Unions reported that only 50% of credit unions have loyalty or rewards programs attached to the credit or debit cards.
A white paper from Card Services for Credit Unions says only 50% of credit unions have loyalty or rewards programs attached to credit or debit cards.
ST. PETERSBURG, Fla. — CSCU celebrated credit unions which had strong card marketing programs in 2011 at a celebratory luncheon on Thursday.
Credit unions using creative, cost-effective and innovative campaigns to successfully market their credit and debit cards will be recognized by Card Services for Credit Unions at the association's annual conference this week.
Card Services for Credit Unions prepping for April 25-29 conference in Florida.