Special Assistance: During this unprecedented time, Advisors Plus is offering assistance with questions you may have regarding payments strategy, contact center operations and member experience. Please ASK ADVISORS PLUS and your question will be routed to a consultant for advice. An FAQ page will soon be made available on the site from which all credit unions can benefit.
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As leading-edge credit union consultants with decades of combined experience, Advisors Plus works with credit unions to help them grow and meet challenges unique to their goals. Our consultants create insightful, data-driven portfolio growth recommendations that deliver measurable results. Find out how your credit union can take advantage of Advisors Plus expertise to expand your credit and debit card portfolios, boost contact center satisfaction, optimize operations and fully manage marketing growth campaigns that strengthen your bottom line.
With Advisors Plus 6.07%
Without Advisors Plus 2.33%
Increasing active accounts is a major factor in determining portfolio growth. Successful credit unions smartly invest in account acquisition programs while using available information and technology to ensure that high-quality performance standards are maintained. In turn, more quality accounts will drive growth in sales volume and balances – which are the lynchpins for interchange and finance charge revenue respectively.
With Advisors Plus 6.86%
Without Advisors Plus 0.34%
The importance of balance growth for credit unions is related to the growth of finance charge revenue – the key to a credit card program’s profitability and main driver of the bottom line. With increasing pressure on interest rates, finance charge revenue is an increasingly important component of portfolio profitability.
With Advisors Plus 10%
Without Advisors Plus 5.49%
Transaction growth occurs through both account growth and account management. Engaged credit unions not only focus on growing their account base but also execute targeted marketing programs that increase usage within their existing portfolios. These programs typically include tactics such as Reward incentives and credit line increases – all designed in a way to responsibly increase usage and gain top-of-wallet status.
With Advisors Plus 10.17%
Without Advisors Plus 6.79%
Be sure to look at how your card loans have increased in the past. Is it growth that comes from new balances or is it coming from finance charges and fee income? Do your payments exceed sales, leaving growth to finance charges and fees?
Find out how your credit union can take advantage of Advisors Plus expertise and analytics.
Mike Murphy, President and CEO, Holyoke CU
“They have a well-organized program and they guide us through it step-by-step. Advisors Plus has a concise and well-organized timeline that keeps us focused so we get our marketing programs out on a consistent basis. They are very attentive to our needs and provide a lot of feedback during campaigns.”
Leigh-Ann Bailey, Member Experience Analyst, Founders FCU
“It wasn’t just their knowledge and command of tactics that made a strong impression. They can balance being very technical, very detailed and very data driven, and still find a way to connect.”
Kevin Miller, President and CEO, CFE
“Over the years, Advisors plus has given us a lot of insights as they come in and help us go through our whole portfolio. This gives us the opportunity to review trends over time in a way that isn’t possible for someone just reading a report.”
Mike Fox, Director, Lending Product Management, BCU
“With Advisors Plus support, we continue to expand the scope of growth initiatives, test new offers, and develop more targeted and cost-effective account management strategies.”
Edyta Martula, Senior Vice President/Head of Retail Strategy and Credit Card Services, Polish & Slavic Federal Credit Union
“For planning purposes, marketing analysis is very helpful in understanding the potential impact of a campaign. We feel strongly that this type of analysis is one of the key benefits of running campaigns through Advisors Plus. Great job – thank you!”
Patricia Ilijic, Executive Vice President, PAHO/WHO FCU
“We are happy to have Advisors Plus as an extended arm for us to use to accomplish certain goals. We don’t have a lot of manpower and we have a diverse membership. Though the credit union’s unique situation could pose a challenge for some, Advisors Plus stepped up without any hesitation.”
How can Advisors Plus cost-effectively help your credit union reach aggressive growth goals?Contact Us