RFG and PSCU Help Credit Unions Analyze Credit Card Profitability

OAKBROOK TERRACE, IL/ST. PETERSBURG, FL, June 17, 2002 -- 
Raddon Financial Group (RFG) and Payment Systems for Credit Unions (PSCU) have announced an agreement to offer credit unions a unique look at their credit card relationships through a new program named the CEO Credit Card Analysis. The CEO Credit Card Analysis was designed to help credit unions improve credit card profitability, increase card penetration and evaluate card performance. 

The CEO Credit Card Analysis is available to PSCU clients that are also members of RFG's CEO Strategies Group program. RFG currently provides core deposit and loan product analysis and member segmentation for more than 500 credit unions nationwide through the CEO Strategies Group program. PSCU, the industry’s largest Credit Union Service Organization, serves nearly 500 credit unions nationwide.

Through the CEO Credit Card Analysis, RFG will integrate the credit union’s member household database with NCUA 5300 financial information and credit card account data retained by PSCU. Each credit union receives a unique report containing their results with comparisons to averages comprised from all the program participants. Representatives from RFG will present the results to the credit unions at a workshop exclusively for PSCU and RFG clients.

"The CEO Credit Card Analysis was designed to help credit unions evaluate how they can increase retention and grow their credit card portfolios” said Bill Handel, Vice President of Research, RFG. "It will show credit unions how credit card sales impact member profitability and how finance charge income and transaction volume drives segmentation." 

Through the CEO Credit Card Analysis credit unions can find out: how credit card sales impact household level relationships; how to increase retention and grow their card portfolio; how finance charge income and transaction volume drives segmentation; and what role Gold and Platinum cards play in their portfolio.

The CEO Credit Card Analysis offers credit unions a new level of management information to make strategic decisions. Analyzing credit card relationships will help credit unions identify the impact on member household profitability and overall performance, while identifying cross sales opportunities that may have been overlooked. 

"We have teamed up with RFG because we believe their CEO Credit Card Analysis will be of significant value and benefit to our members," said Paul Prentiss, Director of Marketing and Product Development, PSCU. “Once new portfolio opportunities are uncovered by RFG, PSCU is poised and excited for the chance to support the implementation of these strategies with our member-owner credit unions.”

Bob Lawhead, President and CEO, RFG, said "Credit unions will find this new product analysis extremely useful for product development and targeting key segments to grow their credit card portfolios. Client demand has driven the development of the CEO Credit Card Analysis, and we are pleased to offer this unique program along with our other CEO database research programs.”

The program is $2,250, plus a nominal workshop registration fee. The CEO Credit Card Analysis is currently available to credit unions nationally. 

About RFG
For more than 20 years, Raddon Financial Group, Inc. (RFG) has provided primary research and marketing solutions to the financial services industry. Headquartered in Oakbrook Terrace, IL, RFG provides database research solutions to over 500 credit unions. To learn more about RFG’s integrated solutions, please visit www.raddon.com or call 800.827.3500.

About PSCU
PSCU, founded in 1977, is owned by nearly 500 member credit unions representing in excess of 6.5 million cardholder accounts across the nation. PSCU provides technology and cost effective, high quality financial services and products solely to credit unions and their members. Additional information can be obtained by visiting PSCU’s web site at www.pscu.net or call 800.443.7728.