Credit card balances are growing for credit unions – are yours?

Here are the Top 3 Strategies for Increasing Credit Card Profits

It’s official, Q3 of 2021 NCUA data is in. The statistics look promising for credit unions:

  •  A YoY growth in credit card balances has been recorded for the first time in the last six quarters.
  • The number of cards, which was growing steadily for credit unions, also witnessed the highest YoY growth rate of 3.5% in Q3 of 2021.

We had not experienced such growth since the pandemic hit. People are eagerly returning to pre-Covid spending levels – and they want attractive credit card deals.

 

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