chart showing that credit union members' credit card balances fell in 2020

If credit unions were waiting for a good time to ramp up promoting their credit and debit cards, one payments CUSO said that time would be now.

CO-OP Financial Services, based in Rancho Cucamonga, Calif., said its data shows credit union member spending has rebounded in all categories other than travel, in-person dining and entertainment.

“For credit unions, this is a strong signal that now is the time to aggressively promote their credit and debit card offerings in order to capture a greater share of interchange revenue and members’ lifestyle interactions as spending continues to improve,” according to a report released Thursday.

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Jim DuPlessis

A journalist for decades.

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