The Sticky Card: Credit Unions Can Influence Which Cards Their Members Choose To Make Purchases
Most consumers have at least three credit cards from various sources. In addition, many people also carry one or two debits cards and a mix of gift and loyalty cards. A recent Gallup poll showed most Americans foresee the death of cash in their lifetimes, meaning all purchases will be made with credit and debit cards, as well as other forms of electronic payment.
4 Areas To Monitor To Grow Your Credit Union Interchange Revenue In 2017
Credit union interchange revenue is a key part of every credit union’s bottom line. Credit Unions have seen impressive growth and the industry looks to continue this expansion by growing markets size and keeping pace with improving technology trends. However, despite this growth, there are several factors that can limit your interchange revenue if you don’t keep a careful watch on them.
3 Ways Credit Unions Can Influence Debit And Credit Card Interchange Revenue
unions, financial survival also requires CUs to generate a certain amount in annual earnings. Debit and credit card interchange revenue usually deliver a sizable chunk of most CUs’ non-interest income. As this is arguably one of the biggest avenues to generate revenue it’s important to keep it coming in, regardless of changes in the financial industry or disruptions caused by technology.