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TOM SAKASHSTAFF NEWSWRITER

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OpSS Council paper addresses credit card privacy issues
MADISON, Wis. (8/19/10)--Credit unions can take credit card market share from banks today, according to a new white paper by the CUNA Operations, Sales & Service (OpSS) Council, titled “Credit Card Pricing: Effective Strategies for a Post-CARD Act Market.” Even before the Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009 took effect, big banks drew consumers’ ire because the government bailed them out when they got into financial trouble. Consumers also were bothered by banks’ reactions to the economy’s effects on their credit card programs and their preparations for a new regulatory environment. With a well-designed, competitive value proposition--including pricing strategies that make their cards attractive without posing excessive risk--and a comprehensive marketing/communications plan that expresses the credit union difference, credit cards can still be a credit union’s highest-yielding asset, the paper said. The paper discusses:
* Significant CARD Act provisions and pricing implications; * Effective pricing strategies; * Credit union advantages; * Metrics; and * Marketplace forecasts.
The paper also includes three case studies showing how credit unions’ pricing has evolved to fit today’s marketplace. For more information, use the link.
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