Credit card consultant R.K. Hammer and his firm have developed a set of services designed to help credit unions lift existing card programs, restart moribund programs or launch new ones, the Thousand Oaks, Calif.-based consultant announced.
Services included on-site consulting, operational overviews, examination of card policies and practices, member satisfaction improvement, member engagement and agent issuing.
"It's not just about product profitability alone, but about card member experience first and foremost," Hammer said. "Keep the member's experience with your card products on a sustainable roll, and then watch your revenue streams and cross-selling ratios climb and card member attrition rates fall."
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"Few know their card members better, with lots of other local branch-based CU relationships," he added. "And that translates into lower attrition rates, reduced charge-offs, and thus better potential returns."
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