In the battle to maintain relevance to your members, credit unions need to continually reassess the value provided by their credit card products. "Lowest Rate" is rarely enough (or even best). Understanding different member needs, segmenting your product set accordingly and targeting the value propositions carefully a credit union can increase penetration, grow its program, best serve individual members in individual ways, and protect your overall relationships.
In this excerpt from Session 3 of Tim Kolk's Credit Card Management School, he discusses how to determine your target ROA and your target member as the first steps in planning your credit card program. To learn more about the program, click here.