FORT LAUDERDALE, Fla. -- Consumer anger at major card issuers combined with increased card regulation make this an ideal time for CUs to market their card programs, according to Chip Filson, President of Callahan & Associates.
Speaking at the CSCU annual conference, Filson outlined how consumer outrage at the card management practices of major issuers had both driven Congress to seek more card regulations and had chased some consumers away from cards altogether. Filson said this combination had left CUs with a challenging opportunity to explain to consumers both how their cards are managed differently and how much of a better value they are to CU members.
"Like anything else, no change is going to move a market overnight," Filson explained after his presentation, "but we are starting to see a change in how CUs present their cards programs and how they explain them."
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