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.
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 card portfolios have had a rough go at things the past couple of years. Even with all the media attention on credit union credit cards in 2010, they grew just 2% that year. The previous five-year trend was an annual average growth rate of 10% to 12%.
nce upon a time in the not so distant past, I recall credit unions across the nation pondering the fates of their credit card programs. Keep?