Nine Out Of 10 CUs That Offer Cards Are Issuers
Nearly nine out of 10 credit unions that offer credit cards continue to do so as issuers, according to a new survey.
The 2004 Card Processing Executive Survey from Business Development International found that 86% of credit unions remain issuers, while 11% have agent relationships. Among the other findings:
* 93% of credit unions participating in the survey offer branded debit cards while only 12% currently offer a stored-value card.
"There does appear to be considerable interest in stored value products based on the survey," the company said.
* While 67% of CEOs rate MasterCard or Visa as "good partners" and another 11% as"outstanding partners" there was a "surprising number" (almost 20%) that see MasterCard and Visa as "marginal or poor partners" and some see them as "not viable anymore."
* 9% of the CEOs have considered converting their MasterCard and Visa cards to another brand.
For more info: www.BDII.net.
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