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Articles Tagged with 'rewards'
Rewards Keep CU Cards ‘Top of Wallet’
July 25, 2014
Rewards programs are the top driver of which credit card tops a wallet.
Rewards Program Taps into Power of Social Media
July 01, 2014
When social media and smartphones are used in conjunction with mobile e-commerce apps, a new world of opportunity opens for CUs.
Five Steps to Social Media Success
April 11, 2014
Your baseline content should focus on what affects members directly.
Motivate with More Than Money
January 14, 2014
Nonfinancial motivators often are more effective than cash in building long-term employee engagement.
Social Media Fuels Relationship Loyalty Programs
June 28, 2013
‘Explain not just what to do but what the possibilities are.’
Look Outside the CU Movement for Rewards Inspiration
December 28, 2012
Nearly 90% of U.S. consumers participate in some type of rewards program.
Optimize Your Card Portfolio: Four Steps
October 04, 2012
Don’t automatically exclude consumers with less-than-perfect credit.
Local By Design
October 01, 2012
Linda Douglas, vice president of marketing, Michigan First CU, Lathrup Village, talks about her CU's success.
Boost Members’ Debit Card Use
June 28, 2012
Let members choose their own PIN, and get the cards into members’ hands right away.
Durbin Amendment Shakes Up Debit Rewards
May 15, 2012
The Durbin amendment is like a big earthquake: Those closest to the event experience the most severe trauma. Those further away experience less shock but still feel uneasy.
Credit Union Magazine
August 2014 digital edition
Beware of Casual Conversation with Members
Tech Budgets Are Going Mobile
Leadership Q&A: Brandon Michaels
Guard Against Employment Practices Liability Claims
Soak up the Sun, Sing in the Rain
While I thought that the premise of the article was good, I found one point very disturbing. It is that the Visions FCU ages people off their board at age 70. I found that really offensive. It perpetuates what I believe to be the regrettable marginalization of elders in our society, and the often erroneous assumption of debility and decline after a certain chronological age. Lots of folks over 70 are leading dynamic and viable professional lives and contributing to our society. How about Warren Buffet, a number of Supreme Court Justices, Jimmy Carter, the late Nelson Mandela and the late Maya Angelou, to name but a few, along with scads of writers, academics, performers, artists, and often our friends, neighbors and colleagues. If Visions wants new people on their board, it seems as though the term limitations and a nominating committee can accomplish that without aging all people off at age 70. I think that’s so insulting. And if those were paid employment, it would be illegal. I do wish you’d have picked a different credit union to profile---one that perhaps does many of the same things, without the arbitrary age exclusion. There have to be others out there.
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.
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