TUKWILA, Wash. - While some credit unions are refocusing on credit cards, they shouldn’t forget about their debit cards, which offer some unique membership growth opportunities, according to one cards expert.
Member Access Pacific here has been “more focused” on debit and ATM cards, Cyndie Maritini said, because the majority of credit unions it does business with are in the medium-size range. These CUs, she said, still are looking for innovative ways to take their credit card products to the next level.
“Debit just sells itself, because people are using it as a replacement for check and cash. There is a whole different feel to a credit card portfolio.”
Martini noted that MAP, which was previously a subsidiary of the Washington CU League and is now a CUSO, is really pushing prepaid cards because they can help CUs manage their member base to a greater degree. “Reloadable debit cards promote starting a checking or savings account, and therefore a credit union membership, among the underserved,” she offered. “It aids people in managing their overall finances.”
