Search
 

Improving Card Management Brings Results

Five years ago, the attitude of many credit unions toward their credit card portfolios resembled that of some farmers toward their cattle. The farmers turned the animals loose on acreage and, as long as the fences were mended and there was plenty of water, more or less forgot about them...

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ARLINGTON, Va. — Five years ago, the attitude of many credit unions toward their credit card portfolios resembled that of some farmers toward their cattle. The farmers turned the animals loose on acreage and, as long as the fences were mended and there was plenty of water, more or less forgot about them until it was time to sell them. In much the same way, credit unions would set up their card portfolios and not have to think about them all that much.

No longer. Competition from banks which only issue cards and specialize in the business, combined with the risk of card fraud and the demand for more sophisticated rewards programs has meant that credit unions have had to start actively learning the card business and managing their card portfolios. For many in the credit union industry, that was the bad news.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2022 ALM Global, LLC. All Rights Reserved.