Did your credit union sell its credit card portfolio in the last few years? Is your agent-issuing contract set to expire in the next 18 months? If so, it’s time to start thinking about your next steps. By being proactive, you can navigate the best course for your credit union and members.

In the past decade, the majority of credit card agent-issuing contracts spanned a duration of five to seven years. Considering that card portfolio sales peaked in 2006, that means many of these contracts will be coming up for renewal in 2011. Don’t assume that an auto-renewal is your best option. You may have more options than you realize.

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Peter Westerman

 

Credit Union Times

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