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From the Editors of CU Weekly

INCREASE REVENUE THIS HOLIDAY SEASON
updated 11/12/13 09:20 AM
CSCU's Card Activation Program
Do you have inactive account holders on your portfolio today? Would you like to get more of your inactive cardholders activated and using your cards without a lot of manual back-office or internal work?

If you answered "yes," then CSCU's FastTrack program might be for you!

FastTrack is an incentive-based activation and retention program that helps credit unions rebuild relationships and increase revenue by activating non-activated and dormant cards. It's a worry-free, no-hassle program that pays for itself through interchange and fee revenue generated from new transactions.

Key benefits of FastTrack:

  • Unmatched track record for activation with an average activation rate of 50 percent.
  • Continued revenue generation—40 percent of activated cards are still active one year later.
  • Increased retention and broadened account relationships for financial institutions through motivating and rewarding card usage.
  • Credit unions pay only for the cards activated and there is no cost for the mailing if the cardholder does not activate and use the card during the program.
  • Increased outstanding balances (credit) and revenue (debit/credit).
  • Attractive rewards and professional, compelling mailings combine to motivate consumer behavior.
  • Availability for TBS, B2K, Pass Through, InterCept and Metavante.
  • Enhance the appeal of total card portfolio with a solution that works for both credit and debit programs.

How does it work?
FastTrack identifies cardholders who have not activated their cards and those with no signature retail transactions within a specified time period. Then a letter and brochure offering a selection of rewards for purchases made during a 90-day program are sent to the selected cardholders making them an offer to activate and use their currently inactive card.

Three communications are subsequently sent to members to encourage them to continue to use their card to reach three different reward levels ($500, $1,000, and $1,500). As members reach each redemption level they are awarded with higher level prizes for meeting the program parameters. Credit unions pay only for cards activated.

Ready to enroll? Contact CSCU today at 888-930-2728.

 
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