RANCHO CUCAMONGA, Calif. (2/27/13)--Now that consumers have renewed their interest in credit, credit unions should market their credit cards more aggressively, say CO-OP Financial Services and The Members Group (TMG).
"We are seeing renewed momentum for credit card usage," said Shazia Manus, TMG's CEO. "Balances are going up, credit lines are increasing, and so credit unions should be consistently marketing their credit cards to their members to remain competitive financial service providers."
"Credit and debit transactions drive non-interest revenue at credit unions," said Stan Hollen, president/CEO of CO-OP Financial Services. "If we focus on a few key priorities, credit unions can grow both debit and credit in 2013. As consumers look to deepen card usage, we can strengthen member relations by providing the convenience of these payment options."
CO-OP and TMG, which provide credit card transaction processing programs and other payment solutions to the credit union industry, will host a webinar March 20 at 12:30 p.m. PT about the debit/credit outlook. Findings they will present include:
CO-OP and TMG say credit unions can capitalize on the growing credit market by: