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New papers address consumer-driven health care debit cards
MADISON, Wis. (8/14/08)--Two new white papers from the CUNA Councils address consumer-driven health care and debit card programs. Consumer-Driven Health Care: Involving Employees and Members in Managing Their Own Health Care, by the CUNA Human Resources/Training Development Council, examines consumer-driven health care (CDHC), including trends and credit union case studies. The paper analyzes the health insurance industry, reasons for moving to CDHC, and available CDHC options. It then offers nationwide credit union case studies, tips to start a CDHC, and key success factors. Maximizing Debit Profitability and Usage, by the CUNA Operations, Sales, and Service (OpSS) Council, shows how credit union professionals can create a successful debit card program that deepens member relationships and generates revenue. The paper illustrates a strategic approach to actively managing a credit union debit card program that focuses on debit transactions and use. Debit rewards are used by roughly one-third of financial institutions to increase activation, usage and retention, according to the white paper. Options for designing effective debit reward programs are offered, including factors in deciding whether to reward personal identification number transactions and signature transactions. “In today’s environment, we are all looking at ways to increase revenue that does not result in a negative effect on our members,” said Carolyn Jordan, OpSS Council vice chair and senior vice president of Neighborhood CU in Dallas. “The white paper can show you how to go beyond just using the debit card as a convenient access device, and position it as a cornerstone to enhancing the profitability of your overall checking portfolio while increasing member loyalty.”
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