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Articles Tagged with 'card'
Survey: Young Credit Card Users are Better Credit Risks
December 07, 2013
Those who obtain credit cards early in life tend to be better credit risks in the long-term.
Don’t Pinch Pennies on Credit Lines
August 08, 2013
Adjusting credit lines requires continuous monitoring of members’ credit scores.
Growing Card Use Bodes Well for CUs
July 18, 2013
CUs’ credit card loans outstanding grew 5.7% during 2012, up from 3.9% in 2011 and 3.1% in 2010.
Special Report: Eighth Annual Underbanked Financial Services Forum
June 10, 2013
‘Our focus is on the consumer’s need to borrow, spend, save, and plan better.’
Report: Older Americans Running Up Credit Card Debt
June 10, 2013
One-fourth of older households have taken on credit card debt to help other family members.
Why You Shouldn’t Take Financial Advice from Justin Bieber
April 22, 2013
Many CUs use prepaid cards as a transition to mainstream products.
Olympia Beer Fans Get Carded
March 18, 2013
The “Oly Gold” card taps into Olympia’s strong regional identity, which made it a Hollywood product placement hit in the 1960s and ’70s.
EMV is coming to the U.S.
March 08, 2013
The EMV (Europay, MasterCard, and Visa) standard serves as the backbone for future payment technologies.
CU Cards On the Upswing
February 01, 2013
CUs boast some of the industry’s lowest credit card interest rates.
Look Outside the CU Movement for Rewards Inspiration
December 28, 2012
Nearly 90% of U.S. consumers participate in some type of rewards program.
Credit Union Magazine
July 2014 digital edition
Slide Show: The Daily Duties of a Home-Based CU Manager
Regulators Focus on Interest-Rate Risk
Five Cyber Security Considerations for CUs
Advocacy Puts Board Members on Offense
Win Employee Love: Four Steps
David, good point about the "recovering comfortably" comment. That was an editorial addition--which I'll remove.
Many good points but too rosy? Will the "Federal Reserve raise short-term interest rates 1% per year for the next three years, starting in 2015—“probably next year at this time” ? I have heard from other economist that the US government will go bankrupt if that happens due to the QE the fed has done for several years. Also it seems an exaggeration to say “We survived a heart attack,now the economy is recovering comfortably." Comfortably recovering is too ignore the economic stress that many members still live with daily that will eventually affect many credit unions.
Karan, Great article and insight. I would also recommend that you start getting those credit cards into the hands of the youth BEFORE they are in college. One of the best ways to reach this young generation is through mom and dad. Before the student goes to college, get them started with a credit card (even if mom and dad are joint on it). It's never too early to start marketing credit cards. Mark
I would respectfully disagree that transactional data is a good place to start. In my opinion, relationship data is a much better starting point. Transactional data tends to require more "mining" of thousands/millions of transactions to identify opportunities or threats. Relationship data, however, involves identifying and profiling your high-value relationships (those profitable relationships with multiple products/services, for example) and leveraging that information to attract/cross-sell similar members. Generally involves a bit less effort and quite a bit higher return.
Congratulations on a fine article. Perhaps the best advise is unsaid but exemplified throughout the article - namely avoiding the use of the term "Financial Literacy." The term is insulting and counterproductive because it implies that those who take the training are "Illiterate."
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