Credit union executives are right to be concerned – not only about the future of their business, but also of the potential dilution of their brand as new players enter the market.
The Members Group discusses how cardholders would be more likely to use photo debit card or cards with company logos.
Iowa credit union adopts new payments platform, says 650 already enrolled.
Too many credit unions put too little thought into their relationships with their credit and debit card processors and should concentrate on getting more out those partnerships.
Credit unions need to recognize that avoiding too much risk in a card portfolio is, in itself, a risky thing to do.
Despite a persistently struggling national economy and a local economy that has performed even more poorly, the San Diego, Calif.- based North Island Credit Union is reporting success with an effort to get back into card issuing.
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.
With the number of members who have opted not to conduct transactions with paper checks continuing to grow, St. Cloud Federal Credit Union knew it was time to make a change.
Four more credit unions have committed to prepaid reloadable and gift card programs from The Members Group and Coopera.