How to navigate today’s fast-evolving credit market

first_img 11SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr The credit card issuing industry is quickly evolving. While 2015 may be characterized as the “Year of EMV,”  the rush to EMV compliance is mostly behind us on the credit side of the business, even as merchant adoption of the technology gradually moves forward. Debit, of course, is another story.In the year ahead, mobile payment technology will continue to advance, attracting consumers like never before. This makes your digital wallet offering more important than ever. Credit unions should embrace their cardholders’ desire to use tokenized payment options such as Apple Pay, Samsung Pay and Android Pay for both their efficiency and security. And, of course, you must ensure that your cards are in these wallets.CO-OP’s own research reveals a changing consumer, one that is much more committed to paying down credit card balances. This trend may be related to our recent great recession, but regardless of why it is happening, credit unions need to adjust their business models and more actively manage their portfolios in order to maximize income.There are many steps you can take to build income streams in this environment. Make sure you are meeting Visa’s and MasterCard’s minimum requirements for your rewards program in order to earn a higher rate of interchange. Identify consumer accounts whose spending patterns are like businesses, and then move these members into business products that are paid at a higher interchange rate. And, don’t put your credit portfolio on autopilot. Continually market to your accounts throughout their lifecycle, keeping your products front and center with members. Then measure the results of these campaigns and change course when needed. continue reading »last_img read more

`Pocket’ Rogers conducting boxing clinic in Lethem

first_imgRENOWNED Linden boxing coach, Orlando ‘Pocket Rocket’ Rogers is now in Lethem conducting boxing clinics at the Wadapna Community Centre and the response to these clinics is heartening.Rogers left Linden on Sunday and started his training sessions on Tuesday morning after meeting the previous day with Mayor of Lethem, Carlton Beckles and Town Clerk, Ms. Keisha Vincent.He described the first turnout as awesome ,as among the 25 participants were two female boxers and boxers as young as eight years old attending the clinics.Rogers said his trip was made possible through Minister of Sport, Dr. George Norton and Director of Sport, Christopher Jones, as he took some boxing equipment to get things going.Rogers said two sessions of training are taking place and they start at 5.00hrs in the morning and goes for about one and a half hours and in the afternoon from 16.30hrs for two hours.last_img read more