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I have recently seen articles in Credit Union Times about the need for credit unions to increase fee income. Let’s take a look at one source of fee income: credit cards. I am all too familiar with credit union card programs and fee structures as I constantly review numerous facets of credit card program structures. I sometimes cringe when I see the credit card disclosures of credit unions and often wish I had the time to call each CEO to share this information.

In a time when credit unions are still being faced with the issue of keeping or outsourcing the credit card portfolio, how many credit unions actually dig deep to review the fee income potential of the card program? Yes, I am aware and fully agree that credit unions maintain the philosophy of minimizing fee income to the members, however as the highest risk product, the credit card must be treated as a different animal.

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