SAN DIMAS, Calif. — By agreeing to donate a percentage of interchange income to missionary projects, Christian Community Credit Union has experienced growth in its credit card portfolio that has made serious contributions to the $450 million credit union's bottom line.
Since 1993, the credit union has donated a total $2.5 million through its "cards that give to missions & ministries" credit card program, also increasing interchange income from $600,000 per year in 1993 to nearly $1.75 million by year end 2007.
Interchange income fuels donations, but the real story is interest income, which has nearly doubled since 2003, from $1.3 million to $2.4 million in 2007.
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Christian Community CEO John Walling said a good tug on the heartstrings would work for any credit union, not just those with a faith-based field of membership. Community credit unions, for example, would receive positive press and an increase in business if it took on the refurbishment of a rundown city park, for example.
"Support a project with a little interchange income, and you'll get 'good citizen' attention that will set you apart in the community," he said.
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