NAPERVILLE, Ill. (9/25/14)--Credit union service organization LSC announced Wednesday that it's launching a program to incentivize the expansion of credit card programs.
The "Get Paid to Grow Campaign" will offer credit unions $4 for every new credit card account signed up over a 90-day period.
Phillip Seely, LSC portfolio development manager, said program participants have experienced an average-total outstanding increase of 14%, and a year-to-date increase in new account openings by 65.8%.
More than 85 credit unions in 25 states have taken part in the early promotion, he said.
In exchange for being able to receive the reward, credit unions must choose one of four LSC marketing campaigns, including free marketing kits, member statement inserts, web banner advertisements and a balance transfer promotion with implementation, goals, strategies and success metrics.
LSC, a CUNA Strategic Services alliance provider, serves almost 2,500 credit unions in 50 states.