Financial Institutions Say Green Initiatives In Works
ATLANTA-Nearly three-quarters (73%) of financial institution executives say they plan to build a new branch or undergo a major remodel of an existing branch in the next year and the vast majority (88%) say green initiatives are important to their financial institutes, according to a 2008 IBT Survey entitled "A Different Shade of Green."
The study found the majority (58%) of financial institutions are planning new building projects. Of that group, more than three-quarters (75%) are considering the use of green building materials and practices. Among other findings:
* 76% say energy efficiency considerations are very important to their institutions.
* 70% said "being green" is important to their financial institution because "we are all stewards of the earth-we are doing what is right" and nearly as many (68%) say they are green because they "realize benefits from the lower operation costs."
For info: http://www.ibtenterprises.com
Card Issuers Must Adapt Rewards, Study Suggests
NEEDHAM, Mass.-A TowerGroup study recommends credit card issuers carefully examine their rewards and loyalty program offerings to include strategies that focus on the fundamentals of good credit management.
As more Americans experience a loss of confidence in the economy, reduction in household wealth and shakier employment status, TowerGroup advises issuers to ensure that loyalty programs not only cause consumers to aspire to potential benefits (e.g., a high-end vacation), but also inspire them to keep their credit in good standing.
The firm suggested issuers consider replacing rewards such as trips to Hawaii and luxury goods with options such as cash-based credits that can be applied to open balances, stimulating good consumer credit behavior and motivating consumers to pay down their balances.
TowerGroup believes reward card issuers will be impacted by four significant consumer trends in 2008: credit quality deterioration; revenue pressure; fragile economy; and, vulnerable consumers. Titled, "Pointing in the Right Direction: Rethinking Card Payment Rewards in a Challenged Economy" the study examines existing reward and loyalty programs.
For info: www.towergroup.com.(c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved.http://www.cujournal.com/ http://www.sourcemedia.com/
