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Could your cards portfolio be the next big thing?

By: Amy MacMullen, AVP, Card Products/Product Specialists

Amy MacmullenFebruary 26, 2015 -- Does your cards program offer you benefits for participating in their program? We do! In fact, our cards program offers several benefits, such as annual cash dividends and marketing campaign assistance.

Getting cash back from your cards provider

Annually, our cards partner, PSCU,* declares and distributes a patronage dividend at the end of its fiscal year to its member-owners. In both 2012 and 2013, over $38 million was paid back to member-owners for participation in services. I’m delighted to report that last year participating credit unions in our cards program earned a total patronage dividend of $380,000.00 distributed as cash and capital credit.

Getting assistance with marketing campaigns to drive usage and growth

Does your current provider offer you managed campaigns to grow your debit and credit card portfolio? We do! We care about your bottom line and want to help you to be top of wallet with your cardholders. We offer advanced analytics to help our members measure and predict success, and we also assist our members in initiating marketing campaigns to drive usage and growth.

For example, Corporate One members utilizing our credit card program just completed enrollment in an account activation campaign planned for April. Credit unions that participated in this type of campaign in 2013 saw a good response rate and enjoyed an increase in activations of 25%. Debit card members will have the opportunity to enroll in a spring low usage campaign this March. (Look for more details next month.)

Partnering with your goals and vision

And know you don’t have to do these projects alone. Corporate One is aligned with credit unions’ goals and strategic plans. We are committed to helping each of our member-owner credit unions better serve their membership while simultaneously building the success of the entire credit union industry and acting as an industry advocate. Our well-trained staff and proven portfolio growth strategies are poised to take you to the next level.

To learn more about Corporate One’s debit and credit card solutions, contact Amy MacMullen, Corporate One’s AVP, card products/product specialists, at amacmullen@corporateone.coop or by phone at 866/MyCorp1, ext. 9339.

*PSCU is the largest non-profit cooperative CUSO in the United States and is owned by 810 credit unions.

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