ST. PETERSBURG, Fla.-PSCU Financial Services has introduced a "Design Your Own Card" (DYOC) solution that allows cardholders to select a personal photo and have it placed on their credit card. Members can upload the photo, such as a wedding scene or family pet, at the time they are applying for the card online. Members also have the option of choosing from a library of stock photographs.
Chuck Fagan, group executive with PSCU-FS, said the roll-out follows research showing personalized cards boost usage by as much as 15%-20%. There are no additional fees for the personalized card for either the issuing credit union or the member.
HAPO Community Credit Union of Richland, Wash., was a pilot credit union for Design Your Own Card and used it in conjunction with its Visa credit card. "This personalized card attracted both new cardholders and existing cardholders. We can tell from the balance transfers that we are replacing large national banks as the credit card of choice," said Auburn Allen, Consumer Loan Support lead, HAPO Community Credit Union.
According to PSCU-FS, HCCU, which has already signed up more than 200 cardholders, promoted the personalized card with a short video and ads on its website (with a link to the application form), statement banners and branch posters. The credit union also encouraged its branch and Contact Center employees to try the new card.
HAPO Community does not charge extra for the card and plans to offer its members the ability to upload a new photo every 12 months for free. The credit union does plan to charge $8.95 if a member wants to replace a photo in less than 12 months.
"We want to encourage our members to update these cards annually as their lives change. Photos of weddings, new homes, babies, children, pets, graduations and other special occasions remind members of special moments," said Allen. "We believe the increased income and usage of these cards will greatly outweigh the minimal expenses we incur as part of the program," said Allen.
Approximately 30 CUs are piloting the program.
