Debit and Checking Portfolio Analysis
Consider the Plus Factor
Debit and checking portfolios are often such mainstays of a credit union's product offerings that it's easy to take them for granted and overlook their enormous potential to impact both member satisfaction and a credit union's bottom line.
Advisors Plus takes a comprehensive, data-driven approach to debit and checking portfolios that analyzes a credit union's member base to determine the most attractive product mix to offer at the best price. Through such an analysis, Consumers was able to improve the overall health of its debit and checking businesses dramatically.
Advisors Plus also provides guidance regarding debit card risks or opportunities such as regulatory and compliance changes and innovative reward programs. Through proactive planning for regulatory changes, Baxter was able to achieve a 22.4% increase in debit card usage.
Checking consulting helps identify opportunities in the market versus other credit unions and Big Banks such as online account servicing, premium offerings and segmentation opportunities.
Come to the Plus Side
The Advisors Plus debit and checking team begins its work with a credit union by conducting an uncommonly thorough portfolio review process. The analysis includes a complete debit P & L and an in-depth understanding of the role that debit and checking can play within a credit union’s entire business model.
Once a credit union's profitability dynamics have been identified and understood, Advisors Plus then works with credit union management to craft individualized debit card and checking continuum offerings that will attract new members and delight existing ones.