Inclusiv and Nickels partner to help credit union members reduce high-cost third-party credit card debt

Inclusiv, the national network of Community Development Credit Unions (CDCUs), and Nickels, the Credit Union Service Organization (CUSO) that helps credit unions identify third-party card revolvers resulting in improved credit card health for its members, announced a partnership today aimed at helping credit unions help their members reduce interest and fees on credit card debt. Currently, Americans are paying more than $110 billion to the largest credit card issuers in interest and fees on credit card debt alone.

Inclusiv members will get discounted access to Nickels’ Checking Account Analysis and Credit Card Coach products, which can be used by credit unions to analyze their member’s checking account data to identify which members are paying the major card providers and then analyze the payment patterns from each member to each card provider to infer who is revolving on third-party credit card debt. Using this analysis, Nickels then creates tailored marketing playbooks for credit unions to help members refinance their debt into lower interest loans, ultimately growing the credit union’s most profitable loan portfolio while saving members money in avoided interest and fees.

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