Ryan ZilkerThey have been around so long, it’s easy to begin thinking of them as inert pieces of plastic. Yet, credit and debit cards remain among the most dynamic products credit unions can offer, and they in fact represent an opportunity to serve members at the leading edge.

Consider the growth in credit card spending during 2014. According to the company’s analysis of credit transactions processed by CO-OP Financial Services, credit spend steadily increased throughout the year. In January 2014, the average spend per card was $363.08, and in January 2015 the average spend was up to $381.18, an increase of five% per card during comparable periods.

This combines with the continued strong transaction volumes for cards. CO-OP’s own analysis of debit and credit transactions it processed found the combined total holding strong, even growing, from about 120 million transactions per month in December 2013/January 2014 to more than 140 million transactions in November 2014.

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