ORLANDO, Fla. – During these troubled economic times, credit unions should issue cards to help their members, but if they do, it pays to invest in learning how to manage them properly, according to card consultants and experts addressing a card management school.
"Sometimes credit unions during these times cut back on lending management training," said Karin Brown, vice president of collections for lending solutions incorporated. "They say they cannot afford to do it, but the truth is they cannot afford not to."
Proper card management, Brown and other experts insist, is a matter of getting to know all about the portfolio-the parameters for how cards are processed, the details of how cards are underwritten, the approach to help cardholders handle card payment stress.
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"It's a detail business," explained card consultant Ondine Irving, founder of Card Analysis Solutions which offered the school. "Profitability will be in the details."
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