[Editor’s Note: This article was previously published in the CU Today, and has been modified.]

It’s no surprise that card issuers are pursuing the affluent consumer with their credit card offerings. These cardholders generally contribute 60% more spend than non-affluent cardholders and their monthly spend is 3.6X greater than cardholders with traditional credit cards. Therefore, these consumers are spending and transacting more frequently, which equates to higher revenue for the issuer.

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

Depending on the part of the country you are located, back to school shopping is beginning and will continue through September. Gleefully, and somewhat melancholy, Fall 2018 marks the first year since 1993 that I will not be buying back to school supplies, as my three children have now completed K-12 and college. No more shopping for back to school supplies or education needs and wants. 

Drive ROI Through Creative Marketing Automation Strategies

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

The U.S. credit union movement has seen record growth in the past year and now boasts more than 110 million members, one-third of the U.S. population. Sounds good? The caveat…when comparing credit union’s market share of total assets to large and small banking institutions, they only have about 7% of the assets (FDIC, NCUA & CUNA source). Americans may be joining credit unions but it has been difficult getting them to handle most of their financial needs at the credit union.

3 Things Boards Can Do To Protect Their CU's Reputation

[Editor's Note: This article was previously published on CUES' CCUBE, and has been modified.]

Credit unions have become more aware of the importance of having a strong online presence and many are equipping themselves with the information and talent needed to be successful. In fact, if you are succeeding in today’s business environment, chances are you have an online presence—and having a strong online presence dictates that you become an active participant in the world of social media.

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.