Credit unions can compete in consumer credit card marketplace

Article Abstract:

Telecredit Inc and Payment Systems for Credit Unions (PSCU) have joined forces to provide credit cards to PSCU members. PSCU consists of more than 700 credit unions, based in Tampa, FL. Telecredit Inc is an electronic payment and authentication service in Los Angeles, CA. This group approach eliminates start-up costs, high monthly usage fees, and the necessity of technical resources. Member credit unions can function as independent card processing institutions instead of agents of a card-issuing bank. The group program generates large revenues based on annual fees, finance charges, interchanges, late charges, and overlimit fees that might otherwise have been paid to a card-issuing institution. The joint effort claims 1.6 million accounts and two million credit cards. An efficiently operated credit union can make a profit at an interest rate of 15% or higher.

Finance, Credit cards, Credit unions, Telecredit Inc.

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Benefits of private label credit: statistical evidence shows private card worth

Article Abstract:

A nationwide survey by Elrick and Lavidge Inc of 2080 retail customers reveals that private credit card holders claim to spend more per purchase and more per year than customers without store cards. Store card holders also shop more frequently and perceive the store more favorably than customers without cards. Some 28% of those responding to the survey carry department store cards, while 72% do not.

Analysis, Marketing, Department stores, Surveys, Credit and debit card industry, Consumer behavior, Elrick and Lavidge Inc.

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