5 ways this credit union optimized cards
by. Bill Prichard
Like a lot of credit unions, Community Financial Credit Union in Broomfield, Colo., sold off its credit card portfolio. But a few years back, the progressive 12,000-member credit union realized cards could play an important role in future growth and engagement. With help from CO-OP Financial Services’ In-House Credit Processing, Community Financial CU optimized their card program and upped their PFI (primary financial institution) quotient.
Here’s how:
- They did it themselves. In-house processing with CO-OP enabled Community Financial CU to create its own program on its own terms. With In-house processing, CO-OP provides processing services while Community Financial CU handles member-facing interactions themselves – which also gives them additional opportunity to engage.
- They kept it simple. To set their card program apart from the competition, Community Financial CU focused on simple, straightforward terms and clear member benefits. The goal was low rates for members who carry a balance and generous rewards for their most loyal members. – See more at: http://co-opinsightvault.com/2014/03/5-ways-this-cu-optimized-cards/#sthash.gcUlMCOL.dpuf