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.
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.
Credit Unions for Kids expected to raise $225,000 for Children’s Miracle Network Hospitals when the beans are all counted.
Too many merging credit unions disregard credit and debit card portfolios in their merger negotiations and preparations and this can result in needless expense and member problems, according to credit union and CUSO executives.
As the payment industry begins to move toward replacing magnetic stripe cards with cards that use embedded smart chips, credit unions and other card issuers will have to eventually decide whether they will issue cards that use personal identification numbers or signatures to validate transactions.
TransFirst LLC of Hauppauge, N.Y., said the $2.9 billion Desert Schools Federal Credit Union in Phoenix plans to deploy the company’s Web-based centralized payment processing system.
While it remains too early to declare victory, there are signs that credit union credit cards are poised to move from the background of credit union lending to take a position closer to the spotlight, according to industry card specialists.
The $2.9 billion Desert Schools Federal Credit Union in Phoenix said it plans to deploy a Web-based centralized payment processing system from TransFirst LLC of Hauppauge, N.Y.
New network comprises more than 1,700 credit unions, 4,400 branch locations and 2,200 kiosks in 7-Eleven stores.