With all that national attention on card rates and fees, New Jersey's largest credit union, the $1.9 billion Affinity, is finding a variable low rate, 8.6%, and a stepped up promotion the right elixir toward building card volume in the New Year.
The Basking Ridge CU said its marketing focus on consumer "alternatives" to banking's high rates and fees has produced a near doubling of Visa accounts during the second half of 2009.
"We launched a credit card awareness campaign in December 2009 and as a result we saw a 162% increase in credit card applications in December 2009 vs. November 2009," said Kevin McCloskey, vice president-lending.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
