1. Hottest Credit Card in Town
David Stark, President
Rosemarie Siems, Electronic Services Manager
Bull’s Eye Credit Union

2. Bull’s Eye Credit Union
Wisconsin Rapids, WI
93,611,001 Assets
20,726 Members
9,627, Credit Card Portfolio
7,781 Credit Card Accounts

3. Why Did We Become ‘The Hottest Credit Card in Town’?
Threat of Selling Portfolio
Decrease in Outstanding Balances
Decrease in Finance Charge Income
Decrease in Interchange Income
Decrease in Credit Card Accounts
Competition

4. Declining Credit Card Income

5. Declining Outstanding Balances

6. Declining Credit Card Accounts

7. How Did We Become ‘The Hottest Credit Card in Town’?
Contact with Certegy Representative
Credit Card Holder Survey
Brainstorming Sessions
Developed Plan and Timeline with Certegy
Implementation
Marketing
Training

8. Plan Strategies
Review current policies to increase line of credit limits and receive Board Approval
Submit application to Certegy for Scorecard and Direct Mail
Review ‘Gold and Classic’ portfolio and transfer who qualify to ‘Gold and Platinum’
Update/Revise current applications and disclosures
Create a Marketing Plan
Train staff on new credit card options/program

9. Plan Strategies Continued
Implement ‘Skip A Payment’ program
Utilize Beacon scoring for monthly reissue
Set up new Bill Codes
Set up Direct Mail Campaign to existing members without a credit card
Set up Direct Mail Campaign to non-members in chartered area
Transfer cardholders to upgraded cards prior to rate conversion

10. Researched Local Competition

11. Top 5 Cardholder Survey Results
Local Service
Low Interest Rate Card
No Annual Fee
Reward Points or Cash Back
Balance Transfer Rate

12. Credit Card Program Old Program New Program
Offered MasterCard and Visa Cards in each program
Platinum 9.9% APR
Gold 11.75% APR
Classic 12% APR
New Program
Platinum 7.9% APR With 3.9% Balance Transfer Rate for 6 Months
Visa Gold 9.9% APR With Scorecard Bonus Point Rewards
MasterCard Gold 9.9% APR With Scorecard CashBack Rewards
Classic 14% APR

13. Web Site Hottest Card In Town
                                                             
                                                         
7.9% A.P.R. Visa/MasterCard FIXED
9.9% A.P.R. FIXED with Scorecard Bonus
9.9% A.P.R. FIXED with Scorecard Cashback
14% A.P.R. Visa/MasterCard FIXED
25 Day Grace Period
Includes Travel Bonuses and Gifts Rewards
Earn $$$ based on Purchases
Click here for details!

14. Balance Transfer Program
Special Rate on Platinum Cards only
3.9% APR for 6 Months
Minimum transfer amount of $50.00
Brochure with form to fill out
Our Credit Card Department
Sent out checks
Sent cardholder letter with additional checks
Posted cleared items to credit card accounts

15. New Account Goals not Achieved

16. Balance Transfer Results

17. Campaign Ending Balances

18. Staff Rewards Dinner for those who assisted with the upgrade process
Lunches as Account Balance growth targets were achieved
Steak Fry for all Staff when Balance Goal was achieved

19. Campaign Costs Marketing - $80,000 Cost Justification
Advertising-Media
Direct Mail
Website
Drive up stuffers
Lobby displays
Cross-Selling Campaign
Processing - $78,900
Account /Cards reissued
Plastic and Disclosures
Scorecard
Balance Transfer
Direct Mail set up
Cost Justification
185 New Accounts
Increase in Balances 4.5 Million
Increase in Interchange Income
Increase in Finance Charges
Increase in Fee Income
Maintain balances

20. Current Balances

21. Current Program Strategies
Card Reissue Review – use Beacon Score for increases and upgrades
Skip A Payment
Platinum 4 Times a Year
Gold 3 Times a Year
Classic 2 Times a Year
4.9% APR Balance Transfer Rate for 6 months
Increase Member Penetration – Cross-Selling
Fast Track Card Activation Program

22. Future Program Goals 50% Member Penetration
Maintain 11.5 Million Dollar Portfolio
5% Annual Increase in Outstanding Balances

23. Rosemarie Siems rsiems@becu.net David Stark dstark@becu.net
Questions?
Rosemarie Siems
David Stark