Despite a down economy and pressure on consumers, a number of credit unions have found their members happy to use credit union issued credit cards, according to TNB Card Services, a noted CU credit card processor.
The processor said that credit unions that sought its help marketing their cards brought in more than $11 million and launched hundreds of new card accounts.
For example, the $660 million Fort Worth Community Credit Union launched a convenience check promotion with TNB's help which brought in $770,000 in new balances, mostly from members transferring balances from higher interest bank issued cards.
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"The goal of the Tax Time Convenience Check was to deliver the right message to the right member at the right time," said Rochelle Drake, vice president of marketing for Fort Worth Community Credit Union. "There was so much noise in the media about credit cards this spring that it made our members pay attention to our offer. We brought in $50,000 more than a similar promotion the year before."
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