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Posted: Feb 14, 2019
Categories: Marketing, Consulting
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Many credit unions are struggling to retain members and capture the wave of increased credit union membership the industry is experiencing despite paying out a record level of membership dividends, helping members affected by the recent government shut down, maintaining lower rates and fees, and providing stellar member experience.

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Posted: Sep 19, 2018
Categories: Credit Cards, Marketing
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[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.

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Posted: Jul 10, 2018
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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.

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Posted: Jun 22, 2018
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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.

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Posted: Apr 20, 2018
Categories: Marketing
Comments: 0
Author: Lou Grilli

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

 

Amazon’s search for a second corporate headquarters location, dubbed HQ2, is back in the news as the cities rated as finalists put on their best showing to court new business. Many communities have thrown their hats in the proverbial ring to be the new second home of Amazon; some have even gone as far as to offer to rename themselves for Amazon. At the same time, there have been many recent articles describing the downside of having a huge global corporate headquarters in the midst of their city. Along with the good jobs and prestige that comes with a corporate giant, traffic and housing price increases follow.

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