Illinois, Indiana, Michigan credit unions score high in report to Congress from CFPB.
A deal announced last week between the Harvard Alumni Association and the 31,000-member $409 million Harvard University Employees Credit Union has guaranteed that at least 4,500 alumni of the university will carry the credit union’s credit card.
Card deal with alumni association a relative rarity in way it was structured.
Harvard University Employees Credit Union wins right to buy portfolio from Barclays Bank and create affinity program through PSCU.
Even though affinity card issuing may have a become a more difficult regulatory and economic challenge, some credit unions have begun to find payments success by launching affinity card rewards programs, credit union card executives report.
The $641 million Purdue Federal Credit Union reports that an affinity card that it issues on behalf of the Purdue Alumni Association is the leading driver for new CU membership.