Even if they're not planning to sell their credit card portfolios, credit unions want to keep them as attractive as possible if that day ever were to come.
And the key, according to Robert Hammer, founder and CEO of R.K. Hammer and Card Knowledge Factor, a bank card advisory firm, is to identify problems as soon as they arise.
"It is a well-accepted maxim in the card business that 'a card loan loss taken early is most always lower than if delayed later,'" he said.
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.
