I  just heard today that consumer spending actually went up in January by 0.4%.  This coupled with the news that consumer savings is at its highest rate since the mid-1990’s started me thinking…

Now could be one of the best times to be marketing the benefits of your credit union’s debit card program.  The January numbers indicate that consumers are still willing to spend money, consumers have more money saved now than at any point in the last decade and most are still a little edgy about borrowing. 

Now more than ever is a great time to run a campaign targeting debit card usage.  Offer double reward points for the next month, offer a debit rewards program if you are not already, partner with local businesses to offer discounts for purchases made using your card, or anything else you can think of to drive activity.

Interchange income certainly won’t make up the impact of NCUA assessments, but it may help out your bottom line enough to still provide a dividend to your members…and isn’t that what it’s all about anyway?

Lastly, as we all focus on an economic turnaround, a quote from Lily Tomiln - “The road to success is always under construction.”  I wonder if that construction is being paid for with stimulus dollars?