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July 14th, 2010What are the best strategies for creating successful and profitable credit and debit card programs?
June 9th, 2010- Understand your memberships’ specific needs. What features and benefits will make your card “top o’ the wallet”?
- Measure the success of your marketing programs. What is your penetration rate? You may have 100,000 members but if your penetration rate is below 20 percent, your marketing program probably isn’t as efficient as it could be. Read the rest of this entry »
How can your institution improve the performance of your payment card programs?
May 28th, 20101. Lowering costs to operate your card programs: The benefits of re-allocating your current capital resources would contribute to your growth potential with out having to invest more money.
2. Reduction of delinquency and loan loss associated with unsecured card products: Risk mitigated is the key to a successful payment card program.
3. Streamlining operational efficiencies and card technology: Many card issuers are partnered with antiquated processor platforms or utilize a separate processing platform for credit and debit, which can be inefficient and costly.
4. Offering a competitive card product: Investment in card offering upgrades and rewards programs will allow your institution to offer a compelling card product.
5. Increasing card utilization and profitability: Your investment in the performance of your card programs will increase card usage and improve the ROA for your institution.
Credit Union Questions?
May 27th, 2010A few questions you credit union executives may want to ask yourselves:
1. Are costs increasing to operate your card program?
2. Is your card product offering competitive compared to other card issuers?
3. Do you have a plan to address the increasing cost of fraud claims?
4. Is your bond insurance premium set to increase?
5. What is your credit union’s tolerance for risk?
6. Is forming an agent card partnership right for your credit union?
Airline Rewards Card Programs – Benefits of On-Going Program Management
April 26th, 2010I am sure your airline has a cobranded card, and you may even have a large number of customers who use their card regularly. But, are you sure your card is working as hard for you as it should and that it is bringing in as much revenue as it possibly can? If you are not 100% sure about the performance of your card being optimized, take a look at these four reasons it is important to continuously evaluate your program.
What You Need for a Debit/Credit Card Evaluation
March 24th, 2010If you are looking to evaluate your credit or debit card program, there is no reason to be overwhelmed. You may wish to work with an outside firm to get an evaluation. (NOTE: Companies like Alliance offer complimentary credit and debit card program evaluations – there is no need to pay for this kind of service.)
It is a simple and fast process, and here is all you will need when working with a company like Alliance on your credit card program evaluation:
Evaluating Your Options and Exploring Results for Card Programs
March 19th, 2010With the recent national market trends in the payments industry, the smaller card issuers are struggling more and more. What this means is that to create a successful card program you must closely weigh all the options. Here are some that are worthy of consideration:
Ground Rules for Creating a Successful Card Program
March 17th, 2010It’s no secret, todays lending market is in a turbulent state, making creating a successful card program no easy task. Doing so is now a 24/7 process, and because of this, Credit Unions need to take an active approach to implementing one. One way to start doing this quickly is to offer your cardholders 24/7 service.
Other ways include taking a look at your current card processor vendor by conducting a thorough review – are they doing the most they can for you? While doing this review, take stock of the resources you currently have, and what other ones would be needed to improve card performance.
NAFCU 2010 Credit Union Awards
February 18th, 2010If you are a member of the National Association of Federal Credit Unions, and are setting the standard for the credit union community, then you are eligible to win one of this year’s annual awards. There are four categories. Enter your credit union:
Federal Credit Union of The Year
CEO of the Year
Professional of the Year
Volunteer of the Year
