Network Coverage: Growing Your Card Portfolio: The Power of Affinity

Affinity relationships have the ability to bolster a credit union’s card portfolio. Learn how one credit union leveraged its affinity relationship into a 41.3% credit card penetration and a 9.58% 12-month credit card loan growth.

 
 
ClipFinding commonalities are a means we use everyday to create associations with people. Building on these bonds creates affinity relationships - akin to the traditional link between a credit union and its members. Now merged with Bank of America, MBNA’s success was driven by partnerships with schools, sports teams and associations – the types of bonds that unite credit union members.

Purdue Employees Federal Credit Union ($503M in West Lafayette, IN) competed with MBNA and won, adding 2,865 new card accounts in 2006. They secured the bid from Purdue University to offer the official card of their alumni association and the John Purdue Club, the private organization that offers athletic scholarships.

At the online event, Growing Your Card Portfolio: The Power of Affinity, Bob Falk, Executive Vice President, spoke about PEFCU’s positive experience offering this affinity card.

 

 

 

May 21, 2007


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