Red River Federal Credit Union Finds Card Success
While many credit union card programs had been outperforming national card programs, some credit unions were seeing below average performance. Red River Federal Credit Union of Texarkana, Texas, is an excellent example. Although it was adding new cardholders and usage was strong, its delinquencies and chargeoffs were rising. This prompted the credit union to look for ways to reduce risk and improve the portfolio’s yield.
Red River Federal Credit Union’s card processor, Vantiv, had been urging the credit union for some time to rethink its card pricing. While the credit union had a conservative credit underwriting policy, its pricing plan did not allow the credit union to adequately price for cardholder risk.
Vantiv helped restructure Red River's entire portfolio – from pricing to fees and even their collection process – all while keeping the card program member friendly.
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