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News Now

CU System
Gift card sales doubled says TMG
DES MOINES, Iowa (2/14/08)--ATIRAgift card sales nearly doubled this past holiday season, with gift card increases experienced by credit unions nationwide, according to The Members Group (TMG). “Credit union members are embracing branded prepaid debit cards,” said Jeff Falk, TMG director of product development. “The evidence is in the total number of gift cards sold throughout the country during the past seven years. So it’s not surprising to see the numbers of our total cards sold double, and penetration per branch increase 20% over the 2006 holiday figures.” More than $4 million was loaded onto nearly 50,000 ATIRAgift cards, which averaged a $6 per card increase over last year, Falk said. “Our clients continue to talk about the importance of member satisfaction. They are encouraged by the multiple uses of gift cards--such as travel and teaching teens how to budget,” Falk said. Fifty-five credit unions, ranging in assets from less than $6 million to more than $4 billion, offer ATIRAgift cards through custom issuer or reseller programs, TMG said.


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