ST. PETERSBURG, Fla.—CSCU is preparing to roll-out three new enhanced card portfolio management options for its member-owner credit unions.
Unveiled during the CUSO’s Solutions Conference here, and introduced by Bill Lehman, VP of Portfolio Consulting Services, the new options expand the Portfolio Consulting Services the company already has in place, which were introduced in 2006.
Lehman said the performance differences between portfolios on which CSCU consults and those it does not are already significant. Consulted CUs have seen 6.3% growth in their portfolios, vs. 3% at non-consulted CUs. Portfolio revenue at consulted CUs is 5.2% vs. 3.9% at non-consulted CUs.
Bill Lehman of CSCU speaking to Solutions Conference.
Lehman noted that the Upside program CSCU offers to smaller issuers has seen new account growth of 331,000, or 17%, with total volume up 6% to $552-million.
Three different programs will be introduced under the Optimize brand by CSCU, with Lehman stating, “We can do as little or as much as you want us to do for you as it pertains to payment strategies.”
Those three programs include:
* PAU. Coming in July is the PAU Program, for Penetration, Activation, This program will develop, coordinate and implement a full turn key marketing calendar for 12 months. Lehman said it will be easy to enroll, and will be cost effective. Campaigns that have worked the past will be implemented here.
* Premier Consulting Services will debut in September. Lehman said this program will leverage portfolio analytics to better identify targeted opportunities. It will offer campaigns, materials and comunications.
* In June of 2016, CSCU plans to introduce Portfolio Management, a complete outsourced solution. CSCU will mange a credit union’s entire card program, including business development, origination, transaction processing and cardholder management.
With the latter, Lehman said credit unions should embrace the pricing.
“This is going to be priced at pay for performance. If we can do better than your internal staff today, pay us a portion of it. That’s how we’re going to price it,” he said.