Getting “Delled” in Credit Cards

At a recent planning session I attended, the loan officer talked about the decline in the credit card program from 26% of the total loan portfolio to just over 22%. In addition to this loss of outstandings, the delinquency had risen almost threefold in the last two years. The credit union's analysis showed that the best members were being lured away by very targeted offers from large credit card specialty companies such as Providian, First USA and MBNA. The credit union had a one-size-fits-all product that did not meet the needs of its better-qualified members. The credit union, I suggested, was getting "delled" by the competition.