Baxter Credit Union Reaches for Higher Checking and Debit Card Performance
Baxter Credit Union (BCU) is one of the 100 largest credit unions in the country, serving over 147,000 members in Illinois, and within the healthcare industry nationwide. In 2008, BCU identified checking penetration rate increases as a major growth and profit opportunity.
Advisors Plus developed a two-pronged strategy for Baxter that focused on building and executing an effective debit card strategy, and proactively planning for legislative changes in the marketplace.
Over the three years ranging from early 2008 to the end of 2011, Advisors Plus and BCU charted:
- Checking penetration increases of 19.8%
- Total debit card usage increases of 22.4%
- An increase in debit card penetration of 9.8%