Best practices for credit card programs (and why they work)

first_img 2SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr The U.S. credit card industry is expansive and growing, topping $4 trillion in volume in 2014, according to creditcards.com. The website also notes that credit card applications reached record highs in June 2016, as reported by the Federal Reserve Bank of New York.And research suggests that credit unions are gaining ground in this lucrative market. In fact, credit unions have increased their credit card market share nearly 50 percent since the 2008-2009 recession, according to creditunions.com.So what are the most innovative credit unions doing today to keep members reaching for their cards? CO-OP Financial Services has identified several best practices, proven strategies that can help you increase your own success.Proactively manage your portfolio. Your program manager should be comparing year-over-year benchmarks within the portfolio on a monthly basis, looking at transaction and sales volumes, as well as the number of accounts and account activations. Other important data points to review include outstanding balances (looking for increases), payments volumes/trends (to understand member behavior changes in carrying balances), income trends for finance charges and fees, and past-due account aging. continue reading »last_img read more

Azarenka Out of Wimbledon

first_imgAzarenka, who won the Australian Open in 2012 and 2013, has been plagued by foot injuries in recent years.She won bronze in the women’s singles and gold in the mixed doubles at the London 2012 Olympics and her withdrawal comes just six weeks before the start of Rio 2016.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Two-time Grand Slam champion Victoria Azarenka has been ruled out of Wimbledon with a knee injury, the tournament organisers have announced.Azarenka, 26, was seeded sixth for the tournament which begins on Monday.The two-time Wimbledon semi-finalist has not played since retiring from her first-round match against Italian Karin Knapp at last month’s French Open.The Belarusian’s withdrawal means five-time champion Venus Williams will move up into the top eight seeds.It also means Britain’s number one Johanna Konta moves up to 16th seed – meaning she will not face a higher-seeded player until round four, should she progress.last_img read more