The $620 million Michigan First Credit Union of Lathrop Village is enjoying a burst of new card business–700 applications a month–from a rewards program stressing statewide tourism and patronage of local businesses.
The Experience Michigan First Rewards Visa program launched in April has boosted outstandings by $1 million, an unexpected jump on what officials described as stagnant balances over the last 10 years.
"We are shooting for $5 million more by year end," forecast Linda Douglas, vice president of marketing. Until the start of the rewards venture, card balances have remained at around $16 million,
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
