Posted: Jul 18, 2018
Categories: Regulations
Comments: 0

ThePaymentsReview continues a new feature that highlights regulatory topics important to credit unions.

When one thinks of ADA accessibility, sidewalk ramps, disabled parking spaces, and wheel chair access immediately comes to mind. What about websites?

The Americans with Disabilities Act (ADA) sets standards for accessibility for people with disabilities to all commercial and public entities that have “places of public accommodation”. In 2010, the Department of Justice clarified that the definition of places of public accommodation includes the internet, and hence, websites of commercial and public entities.

Read more
Posted: Jul 10, 2018
Comments: 0

A Survival Guide

[Editor's Note: This article was previously published in CUInsight, and has been modified.]

Credit unions face an aging membership base. At the recently held immersion18, Trellance’s annual conference, a survival guide was presented for credit unions to prepare for and counter this trend.

The average age of a credit union member is 47. This means that most members are past their prime borrowing years. Income from interest is the biggest line item on almost every credit union’s income statement, therefore if members are moving from borrowing age to saving age, the average Return on Member (ROM) will start to decline. That’s not to say that savers aren’t valuable members, a credit union needs both.

Read more
Posted: Jul 5, 2018
Comments: 0
Author: Lou Grilli

Two years ago, ThePaymentsReview published an article asking the question “Will contactless payment cards catch on in the United States?” So far, they have not. But if it is up to the major card brands, that will change very soon. 

Most Americans are not familiar with contactless cards, which allow the cardholder to “tap-to-pay”, just like tapping a phone to pay. These cards are also called dual-interface cards, since they can still be used like traditional cards, but also have an antenna that can communicate with a point-of-sale terminal without being inserted or swiped; tapping to pay is the second interface.

Read more
Posted: Jun 27, 2018
Comments: 0
Author: Glen Sarvady

We’re now several weeks removed from Trellance’s excellent inaugural Immersion conference, yet I still find myself returning to the thought-provoking content delivered over three May days in Fort Lauderdale. It was a savvy touch to enlist the help of an on-site commercial artist, documenting the plenary sessions by creating real-time infographics that captured the key themes far better than I would have imagined. Although my own drawing skills would earn no better than a C minus from the most generous grader, allow me to paint with words the takeaways from two of my favorite of the conference’s breakout sessions.

Read more
Posted: Jun 22, 2018
Comments: 0

Credit Unions Can Offer Members Affluent Cards and Increase Their Bottom Line

Wealthy Americans love credit card rewards. These cardholders can also be the most profitable for a credit union issuer – but only with the right card product.

The battle to acquire cardholders is being won by issuers who use rewards as ammunition. Both Visa and Mastercard report card growth in the low double digits, with the lion’s share of that coming from reward cards. It’s no secret that Americans love their reward cards. According to Brian Riley of The Payments Journal, more households have credit card rewards than have 401k plans. And the rewards continue to grow. In 2008, the average credit card bonus offer was 16,050 points. Today, the average offer is 40,556 points.

Read more


Featured Stories