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Megan Cummins

Megan Cummins
Strategic Advisor

Megan Cummins works with Raddon clients, providing analytical, strategic and tactical recommendations. During her 14 years with Raddon she has held a variety of roles in Performance Analytics and Integrator™ training and implementation.  She earned a bachelor’s degree in Finance and an MBA in Marketing and Management from North Central College.

Raddon Report author posts

rr_2021.08.26
Thursday, August 26, 2021
Megan Cummins

Out of all the products that a financial institution offers, credit cards are the most unique and challenging to design because they have dual functionality. For some, credit cards are a way to borrow. For others, they’re a way to make payments.

As we look at trends in consumer credit card usage and data from the Raddon Performance Analytics program, we find commonalities among financial institutions with the highest credit card household penetration and balance growth. What are these institutions doing that makes them top credit card performers?

rr_2021.07.22
Thursday, July 22, 2021
Megan Cummins

As more consumers – especially millennials – grapple with managing their finances, the opportunity is ripe for financial institutions to offer financial literacy programs and build loyalty among accountholders.

rr_2021.04.08
Thursday, April 8, 2021
Megan Cummins

By:  Megan Cummins and Jan Trifts

In a recent Raddon Report article, Characteristics of Your Most Profitable Households, we discussed the importance of understanding what makes an accountholder profitable. In this report, we’ll discuss the characteristics of your unprofitable households and provide strategies for engaging them.

rr_2020.12.10
Thursday, December 10, 2020
Megan Cummins

The pandemic and its accompanying economic slowdown have compressed margins at banks and credit unions, putting pressure on earnings. To mitigate this impact, consider understanding how your accountholders contribute to the bottom line.  Are they bringing the necessary value as consumers of your products and services?

Thursday, August 1, 2019
Megan Cummins

We recently wrote about how to grow deposits.  Just as important as deposit growth is deposit retention. You can grow at a rapid pace, but if all of your deposits are walking out the door, you obviously won’t be growing.

Thursday, July 18, 2019
Megan Cummins

Are you looking for deposits in all the wrong places? In today’s challenging funding climate, most institutions are looking to maintain and grow deposits to help them manage the cost of funds in a rising rate environment.