CANTON, Ohio — Three years ago, the $87 million Canton School Employees Federal Credit Union was so discouraged with the performance of its credit card program that the CU was considering selling it, according to CEO Stan Barnes.
The asset, while still valuable, was losing steam at the same time that managing it appeared to take a greater degree of time and resources, Barnes said, and the credit union had started the process of evaluating it with an eye toward selling it.
As part of that evaluation, CSE asked the opinion of card consultant Ondine Irving, CEO of Card Analysis Solutions. Irving studied the program, and bluntly urged Barnes not to sell it.
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