TNB Card Services Publishes Card Marketing Guide for Credit Unions

A new marketing guide, designed to help credit unions power up the growth of their credit and debit card portfolios, has been published by TNB Card Services. The easy-to-use planning tool guides credit unions in developing a card marketing program that can reach and exceed their growth targets.

Credit unions that actively market their card programs achieve stronger net retail sales, higher outstanding balances and interest income, more accounts on file, and reduced attrition. The TNB 2006 Card Marketing Guide offers an effective mix of solutions for acquisition, activation, retention, and loyalty programs. From in-branch programs to convenience checks and balance transfer promotions, TNB works with its client credit unions to develop successful campaigns to drive card usage and increase revenue.

TNB’s turnkey marketing programs are used by credit unions of all sizes. One client, Education Credit Union in Amarillo, Texas, is an example of the effectiveness of a proactive marketing program. The credit union increased its number of active card accounts by more than seven percent in less than a year with a mix of promotions recommended by TNB and staff incentives.

Education Credit Union’s average balance in July 2005 of $2,068 represented 47 percent growth over the January 2005 figure of $1,403. Average monthly spending per account increased in that same six-month period by more than 50 percent, from $204 to $313. These were the first increases in any of those categories that Education Credit Union had seen since 2001.

April Altom, director of marketing for Education Credit Union, said that implementing TNB-recommended marketing promotions has generated a dramatic increase in card usage. “Our first promotion was a balance transfer campaign in late 2004, followed by a post-holiday interest reduction promotion in early 2005, and then a spring new account acquisition drive,” Altom noted.

The 70-year-old Education Credit Union serves employees and students at all schools and colleges in a six-county area in the Texas panhandle. With 14,747 members, the credit union has assets of $110 million.