There is a great post over at the Qvisory blog that talks about the benefits of a credit union credit card versus a bank credit card. They make a number of great points including: better rates, lower fees, favorable terms and conditions and the people helping people philosophy.

I don’t think there could be a better time to be marketing the benefits of your credit union cards than now.  In addition to the great points in the article, some of the biggest benefits you can bring to your members is increased spending power.

Recently, more and more banks are cutting credit lines and limiting spending of their cardholders. Many of those cardholders are your members that are likely looking for a replacement for their bank card that just cut credit lines. Statistically speaking, cardholders usage and spending drops off significantly when their balance reaches 40% of their total credit line.

Take a look at your program: if your cardholders are being constrained by their credit line, consider a credit line increase. Or, call the top 10% of your members that do not have a card with you and talk about why they should open an account with you. I’ll bet you find a couple hundred new cardholders that are willing to transfer their bank credit card to your credit union.

One last idea: ask your board and management team which card they use most often. Odds are it’s not your card, but it should be! If you learn what card they are using and why, it will give you a good idea of how to market to your members.