Oct. 25, 2010


  • One factor that's almost always overlooked or glossed over is branding and service standards and the potential for negative impact on a CU's brand.

    Credit cards are one of the most complex products CUs offer, and members will need support. What happens when they call the number on your CU card and it's answered "Bank of America" (common true story, unfortunately)? What happens when a member has to use someone else's web site to see their card balance, and it's no longer integrated with the rest of their CU accounts?

    Sure, the CU can make a few bucks on a portfolio sale, and sometimes it's the only way to keep a viable credit card program, but how often is it worth the huge loss in loyalty and differentiation?
    Brian Wringer