One Nevada Thrives by Reducing Portfolio Risk and Rewarding Creditworthy Members with Card and Credit Line Upgrades

One Nevada Credit Union’s enduring commitment to the citizens of Nevada — tracing back to the early 1950s — has made it the state’s largest locally-based credit union today, with over $770 million in assets, 77 thousand members, 14 branches and cutting-edge mobile banking technology.

The picture wasn’t as rosy during the economic downturn of 2008-09, however, when many of One Nevada’s members found themselves underwater on their mortgages and deeply in personal debt.

One Nevada wanted to support the economic recovery and liquidity needs of its members while moving prudently to mitigate its own portfolio risk, so it worked with Advisors Plus Credit Card Consulting starting in 2011 to assess the evolving health of its credit card portfolio.

Advisors Plus recommended improvements to One Nevada’s collection procedures, a matrix to optimize its credit lines and an upgrade to the Visa Signature® card suite for One Nevada’s creditworthy members.

One Nevada then turned to Advisors Plus Marketing Services in 2013 to design a calendar of balance transfer and card activation campaigns that have run each year since, with consistently exceptional results:

  • Together, One Nevada’s three balance transfer/convenience checking campaigns have brought in nearly $5.4 million in new balances and achieved response rates as high as 8.09 percent.
  • One Nevada’s four credit card activation campaigns each surpassed typical industry benchmark response rates, often by dramatic margins ranging from 17.02 to 35.4 percent.
  • Total dollar outstandings and average last statement balances grew during each campaign and have ranged from $318 to $737.