Credit cards have never been credit unions' bread-and-butter loan product, but more financial cooperatives have been investing in their credit card programs – just as demand for them has been increasing among consumers as a result of ongoing inflation.
On this episode of "Shared Accounts With CU Times," Jeff Harper, chief lending officer for the $2.6 billion, Santa Ana, Calif.-based Orange County's Credit Union, discusses how his credit union reinvigorated its credit card program to meet members' needs. While the credit union's credit card portfolio still has some growing to do to catch up with those of its peers, the program seen some promising results in recent years, including a 245% increase in credit card applications since partnering with a new fintech. The credit union is now in the process of modernizing and boosting the security of its credit cards through an initiative it calls Cards 2.0.
Harper, who has been a credit union industry professional since 1980 and with Orange County's CU since 1997, also talks about witnessing the evolution of technology in banking, and how the current economic environment has impacted members' finances and loan performance at the credit union. He also shares his thoughts on the Credit Card Competition Act, which has been heavily criticized by trade groups in the industry.
Plus, Harper gets us all dreaming about a vacation to sunny Southern California as he shares his favorite spots around the region – and confesses which TV show he tunes into for real estate and outfit inspiration.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
