An asset and liability management consultancy argues that many credit unions risk giving up a unique and powerful niche in the overall credit card market if they rush to change from fixed rate credit cards to those with variable rates.
Jack Brick, president of Jack Brick Associates, a credit union consultancy headquartered in East Lansing, Mich., observed that the drop in fixed rate cards among the large issuers can only help credit union card accounts to shine all the more.
"We know that fixed rate cards are, by far, more popular with members," Brick asserted. "It's just not clear to us why credit unions should rush to give them up."
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