NEW YORK CITY–Municipal Credit Union here has been recognized as an inaugural winner of the 2015 VISA DPS Client Achievement Award for Highest Growth for Debit Portfolios.
The award recognizes VISA DPS's highest-performing clients for consistent and superior operating performance. The Portfolio Growth Award is evaluated based on growth in the portfolio’s open accounts, active accounts, and point of sale usage, the credit union said.
MCU members made more than 2.3 million debit transactions per month in 2015, an increase of more than 400,000 transactions per month over the previous year, according to the credit union, which said part of the growth has been driven by programs MCU launched in 2015 to increase debit transitions, such as its Debit Card Swipe promotion, which helped boost card utilization by 22% in June and July. MCU anticipates that by the end of 2015, its members will have made over 25 million VISA debit transactions.
“We are proud and honored to receive this recognition from VISA DPS," said MCU President/CEO Kam Wong. “One of our main focuses for 2015 was to grow our VISA business. We are very happy with our efforts and their results, and even prouder that VISA DPS determined that our efforts were meritorious among all their business partners. We thank them for their recognition."
The $2.2-billion MCU has 375,000 members.