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Posted: Jan 15, 2019
Categories: Credit Cards
Comments: 0
Author: Ann Farrell

Understanding your members’ behavior gives you the opportunity to serve them effectively and in turn, increases your bottom line. Unfortunately, it is not uncommon for credit unions to overlook existing cardholders as a significant opportunity to help stimulate portfolio growth and increase profitability. With the use of data, you can identify trends that will help you to ensure that you are offering the right incentives, rewards, and services that will not only retain your existing cardholders, but also attract new prospects.

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Posted: Jun 27, 2018
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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.

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Posted: Jun 5, 2018
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Author: Lou Grilli

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

There have been many suggestions for use cases for Blockchain, the underpinning technology for many cryptocurrencies. Loyalty programs have been specifically proposed as potential use cases by several credible and reputable firms such as  Deloitte, and Oliver Wyman. Most of what has been written about loyalty blockchains describe benefits in very simplistic terms – Blockchain can make loyalty programs more valuable for end users by increasing transferability of rewards, or can increase satisfaction by making rewards programs more real-time. But the addition of a proprietary cryptocurrency could be the game changer which moves blockchain for loyalty from concept to reality.

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Posted: Feb 16, 2017
Comments: 0
Author: Lou Grilli

Educating and motivating members to make smart choices is good business for credit unions.

New Year’s Resolutions often include some promise to start saving money. Easier said than done. The average American age 40 or under says there's nearly a 50% chance they would not be able come up with $2,000 next month if there were an emergency, according to CNN Money. This in turn causes family stress that replacing the A/C, or a trip to the emergency room would finically devastate the household. This is why many companies and banks are providing services to help individuals create and stick with a savings plan.

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Posted: Sep 26, 2016
Comments: 0

Innovative ScoreCard Rewards Promotion Delivers Results

CSCU member Evansville Teachers Federal Credit Union has increased its average monthly credit card applications by 89% after extending to members its “3-2-1” ScoreCard Rewards program. Since July 2015, the program has offered credit union members triple points on a quarterly rotating category, double points year round on gas and groceries, and one point per dollar spent on all other purchases.

 

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