“As I have said for over 10 years, a credit card program must be properly managed and measured,” Irving wrote in an email response to a reporter's question. “A product champion is required to allow for accountability and ownership. It is not enough for the card program to be 'part' of someone's responsibility. The highest profit-making product deserves its own owner.”

Scott largely agreed, adding that he was often surprised at how few credit unions really understand how much money their credit card programs make for them. This is a key gap in knowledge because, he said, without that perspective, credit union executives can wind up making mistakes, such as making broad decisions about a portfolio based on risk alone.

“Sometimes executives will tell me they have pulled back on a portfolio because they took fraud losses of $10,000,” Scott said by way of example. “But I will point out that the same program, even with those losses, made them $190,000. Executives have to have the complete picture to make decisions.”