by Phil Seely, LSC
Increase member satisfaction and generate ROA with a well-rounded portfolio. When credit union members are the first priority, designing a robust portfolio that meets their needs is of utmost importance. The essentials to member satisfaction, and credit union growth, are two-fold: impressive service and competitive programs.
Including a credit card program in your credit union portfolio is a benefit to members and ultimately leads to growth. Unfortunately, including a credit card program can be overwhelming and stressful. It might seem like too much for your team to take on during uncertain, often challenging times. 
How can you determine if your credit union is ready to take the plunge into offering a credit card program? First, assess the requirements of a program. Credit card programs must include four elements:
- Operational service and support
- Multi-channel marketing campaign
- Reward program to encourage sign-ups and card use
- Responsible payment planning
Next, consider the questions:
- Do we have the existing bandwidth to add a credit card program in 2021?
- Can we grow without a credit card program?
- Can we afford not to offer a credit card program if we want to grow?
The fact is, in 2021, growth is necessary for credit unions to remain relevant and to serve their members through the tough road ahead. A credit card program does not have to be a burden. As an extension of your credit union team, LSC can support the implementation and execution of a successful credit card program with the Accelerated Growth Program (AGP).
Members love their credit unions because of the service. People connect at credit unions and feel supported on their financial journeys. Unique to credit unions, connectivity and community thrive within a community financial cooperative in a way that many larger financial institutions simply cannot create. Marrying the credit union experience with powerful financial tools will result in increased member satisfaction and credit union growth.
For more information on how to get a credit card program, contact Dan Collins @ dcollins@nebrcul.org
