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.
Christopher Crockett comes from City National Bank in La Jolla, Calif., where he was senior vice president/regional banking manager.
A CUNA survey of some of its member credit unions suggests credit unions with less than $10 billion in assets have begun to take a hit to their debit card interchange even though they were not supposed to feel the impact of a debit interchange cap.
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EMV Essentials site includes explanations of technology embedded in EMV cards already widely used overseas, as well as timeline for the liability shift through 2017.
Mississippi, Florida credit union executives join board of merged corporate.
As credit unions learn more about new technology, they are some of the institutions leading the nation in the issuance of payment cards that use embedded computer chips to validate identity and secure transactions.