- Understand your memberships’ specific needs. What features and benefits will make your card “top o’ the wallet”?
- Measure the success of your marketing programs. What is your penetration rate? You may have 100,000 members but if your penetration rate is below 20 percent, your marketing program probably isn’t as efficient as it could be.
Some credit unions consider selling their portfolio of credit cards. Selling a card portfolio is not always in every credit union’s best interest. Choosing the right path, whether to sell or retain your portfolio, can make a huge difference in your credit union’s success and long term profitability.