Seven ways debit card issuers can compete in 2023

These innately budget-friendly cards are ideal for helping members with their financial commitments.

The strategies credit unions deploy to grow debit portfolios in 2023 may wind up pulling double duty. That’s because many of the approaches to enabling a member’s everyday payments also move a credit union closer to becoming that member’s trusted primary financial relationship.

What follows are seven strategies that credit union debit card issuers can execute over the next 12 months, each with an eye toward earning member trust.

1. Focusing on Direct Deposit Capture

Members spend more confidently with a debit card that is tied to a well-funded account. This year, credit unions can optimize their onboarding processes to encourage members, and potentially even incentivize them, to trust their paychecks to the cooperative.

 

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