The 103,000-member, $741 million Marine Federal Credit Union said it has seen strong growth in its credit card portfolio by using a mixture of rewards programs, credit line increases and balance transfer offers.

The Jacksonville, N.C., credit union saw its overall outstanding balances on its credit card program climb by 8.5% and net yield climb by 2% over the course of a year, according to Card Services for Credit Unions, the trade association whose portfolio analysts had suggest several of the card strategies the credit union used.

The credit union found that offering a mixture of cash back and point rewards built cardholder loyalty while offering the credit limit increase followed almost immediately by the 2.9% balance transfer rate helped bring in an additional $2 million in balances.

“Not all credit unions realize they have access to powerful tools and resources that can help them experience similar success as Marine Federal Credit Union,” said Melissa Oxendine, senior portfolio consultant, CSCU. “We encourage our members to take advantage of these membership benefits that have proven effective in helping credit unions stay competitive and profitable.”