Marine Federal Credit Union Turns Credit Cards Into Highest Yielding Asset

TAMPA, Fla. (May 3, 2013) Surpassing industry standards with the growth of its credit card portfolio, Marine Federal Credit Union of Jacksonville, NC boasts a total outstanding balance increase of 8.5% and a net yield growth of more than 2% year over year.  With credit cards as its highest yielding asset, Marine Federal Credit Union attributes the over-performance to changes made to its card portfolio at the strategic guidance of Card Services for Credit Unions (CSCU).

Regina Almand, assistant vice president of consumer lending and credit cards for Marine Federal Credit Union, explains the benefit of offering rewards or cash back on all member credit cards using the ScoreCard® rewards program, “ScoreCard has made a huge difference in member retention as our members care about keeping track of and using their points.  It has kept members from closing their cards at the risk of losing unused points.”

In addition to offering ScoreCard rewards to all cardholders, CSCU recommended Marine Federal Credit Union offer members a credit limit increase followed immediately by a 2.9% balance transfer promotion.  This strategy led to a $2 million increase in total outstanding balances attributed directly to the three-month balance transfer promotion.

Almand added, “It’s been the involvement with CSCU that’s really made the difference.  Our consultant’s projections of what the recommendations could do for us were right on target every time, and now we look forward to continuing the growth of our credit card portfolio in 2013.”

“Not all credit unions realize they have access to powerful tools and resources that can help them experience similar success as Marine Federal Credit Union,” said Melissa Oxendine, senior portfolio consultant, CSCU.  “We encourage our members to take advantage of these membership benefits that have proven effective in helping credit unions stay competitive and profitable.”

For more information on the complete suite of marketing resources available to CSCU member credit unions, visit