TNB Releases Card Marketing Guide for Credit Unions

TNB Card Services’ new 2007 Card Marketing Resource Guide is designed to help credit unions launch the marketing efforts that will drive the growth of their credit and debit card portfolios. The easy-to-use planning tool provides the direction credit unions need to develop effective marketing programs that increase card usage, grow outstanding balances, acquire new cardholders, and build loyalty among their cardholders.

Credit unions that actively market their card programs achieve stronger net retail sales, higher outstanding balances and interest income, more accounts on file, and reduced attrition. From in-branch programs to reduced rate and balance transfer promotions, TNB works with credit unions to develop successful campaigns that are easy to implement and drive card usage, increase revenue and strengthen loyalty.

TNB offers the most extensive turnkey marketing programs in the credit union payments industry with more than 18 promotions to choose from. Every promotion is tailored to the needs of individual credit unions and their members. Materials are customized with the credit union’s name, logo and rates. From card activation to pre-screened account acquisition promotions or card upgrade campaigns, credit unions have the flexibility to select the promotion and promotional rates that will meet their marketing needs.

TNB’s semi-annual acquisition promotions out perform the national average for this type of solicitation. Its 2006 spring acquisition promotion as a whole generated a 0.75% response rate, more than double the national average for participating clients.

At Harlingen Area Teachers’ Credit Union in Harlingen, Texas the 2006 spring acquisition promotion far exceeded expectations as well as the credit union’s annual goal for new card accounts. By pre-qualifying members for the campaign – its first such acquisition promotion ever – the 13,883-member credit union identified members with targeted FICO scores. By strategically targeting high-scoring members and offering them a 60-day introductory rate of 3.9%, the credit union received a 2.45% response rate from the 1,549 members solicited.

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In a little more than two months, the promotion generated 50% more new accounts than the credit union’s goal for the entire year.

TNB’s balance transfer promotions also produce above average results. Jersey Shore Federal Credit Union of Northfield, New Jersey, boosted its card balances by more than $609,000 with an 11.68% response rate when it participated in a recent TNB balance transfer promotion. And San Antonio City Employees Federal Credit Union gained more than $475,000 in new card balances in a post-holiday balance transfer promotion. This particular promotion generated more than $4 million in new credit card balances across all of the credit unions that participated.