More Findings from the Discover Survey

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SALT LAKE CITY-Discover Financial Services conducted a study that the firm says demonstrates the importance of offering a credit and debit card program. Among the findings:

• No annual fee is the biggest reason members apply for a CU credit card.

• Credit union members are significantly more likely than non-CU customers to actively reduce their number of financial cards.

• A large shift is taking place among CU credit card holders, moving from a revolver to a "transactor" behavior.

• CUs should have no trouble driving their cards to top-of-wallet with messaging focused on fraud protection and customer service.

• Credit unions have a high percentage of ATM/PIN-only cards. There is opportunity for CUs to increase transaction volume by offering dual-function debit, and not just PIN debit.

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