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Drive Growth When You Make Your Plastic Utterly Fantastic!

Recent research shows that one in four consumers now prefer their primary credit card to be issued by local banks or credit unions, marking a shift away from major national banks.


This change in consumer preference presents a unique opportunity for credit unions to leverage their community-focused brand and data-driven strategies to capture a larger market share. Here's how you can make your plastic utterly fantastic :)


1. Rewards your members for their current spending behavior

Dive into the data to understand your members' spending habits and preferences. Tailor your credit card offerings to match how your members spend. Look at that wealthy payment data and see where your members are actually spending, either with your card or overall payments. Look for specific categories, Home Improvement, Retail (Target, Walmart, Kohl, BestBuy ), Drug and convenience stores (CVS, Walgreens, 7-11), Gas (Shell, Chevron, QuickTrip), and groceries (Wholefoods, Target, Walmart, Vons, Kroger, Aldi)

Review your reward program, provide additional perks for the members' current behavior, and learn from that spending to deliver what they need financially next.


2. Make it about the Member

 Use your rich data on your members to craft personalized marketing campaigns. 

Seasonality is a thing! In July, like you, your members will be making seasonal purchases to celebrate summer, fall, winter, and spring. Remind them they can get perks for using your plastic to make this season utterly fantastic.


3. Own the friction in the experience

Review the plastic experience journey from the Member's point of view. Can they open and use your cards easily? Offering seamless application processes and proactive member service is ideal, but if it isn't, own it, start working on how to fix it, and build in personal touches to help smooth out any of the rough edges. This will help differentiate your credit union from bigger banks.

This is also an excellent time to consider partnerships with fintech companies to enhance your technological offerings and make it easier for members to manage their credit and other finances through innovative apps and tools. 


4. Concern for Community

Not only is this a credit union cooperative principle, but you are already engaging with your community through all the amazing work you do, including—but not limited to—food banks, Children's hospitals, and financial literacy. But how about identifying local entities (such as schools) where your members can donate using the rewards benefits from your cards? 


Credit unions can effectively tap into the growing segment of members who value local, personalized financial services over national providers. When your credit union leverages its data to make a plastic portfolio, it becomes not only a growth driver but also a competitive advantage.




The year is half over, but it's not too late to unlock your Credit Union's full potential to elevate its members' lives!

10x the MX leverages cross-functional teams to create collaborative, effective solutions driving meaningful impact. We specialize in helping credit unions activate their data to accelerate and elevate their members' lives.

Learn how Corning Credit Union used 10X the MX to:

  • Increase member experience and satisfaction

  • Improve organizational efficiency and processes

  • Empower credit union talent, boost satisfaction, and build critical thinking and execution capability.


If your 2024 goals included building a Data Strategy - it's not too late!

See what we did with

First City Credit Union

Learn how First City Credit Union partnered with THRIVE to help them identify their gaps in existing data efforts, gain clarity on member needs and wants, and build a multi-year roadmap for data success.

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