Three-Month Card Promo Brings In $5 Million
A three-month promotion targeting card balance transfers generated slightly more than $5 million in new balances for the 42 credit unions participating in the campaign. All are clients of TNB Card Services here. According to TNB, the average transfer per member was an impressive $3,450.
Glen Lee, first senior vice president of TNB Card Services, said that although TNB offers a balance transfer promotion two times each year for clients, this was the most successful promotion ever in terms of response and average transfer.
"This promotion by our client credit unions once again demonstrates that members truly value the card relationship they have with an organization they trust. The $3,450 average transfer check was phenomenal, and nearly 40 percent higher than the typical average transfer we've seen in past promotions," Lee said.
TNB said the 2.39% response rate was based on about 61,000 qualified accounts that were the targets of the offer. Depending on the rate each credit union selected, transfers were offered from 0% to 7.9% APR. The best response rate was recorded by Texas Dow Employees Credit Union of Lake Jackson, Texas at 3.92%, which also had the largest average transfer check, at $4,140.
For info: www.tnbcard.com or call 888-742-0260.