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PSCU Financial campaign nets debit growth for CU
ST. PETERSBURG, Fla. (6/2/08)--Y-12 FCU, Oak Ridge, Tenn., boosted its active accounts and average transactions after participating in a PSCU Financial Services activation campaign. The credit union’s active accounts increased to 74% in March 2008, from 60% in March 27. The average number of debit transactions also increased to 24.4 from 22.9 during the same time period. “We had more than 450 accounts go from completely inactive to an average of 24 transactions at month,” said John Stegner, vice president and chief financial officer, Y-12. Y-12 had 566,000 debit transactions in March 2008, compared with the December 2007 transaction total of 554,000, Stegner added. PSCU’s fall campaign offered CURewards points or cash to qualified cardholders who made 10 debit purchase transactions during the tracking period. Y-12 also is participating in a spring debit promotion that targets accounts that post less than 10 transactions a month. Cardholders with at least 15 transactions receive a $10 prepaid gas card. PSCU noted that as a whole, it topped 500 million transactions in 2007--a 117% growth over 2003 transaction volume, the company said. “Credit unions need to remain actively engaged in marketing their debit card portfolios to participate fully in the expansion of debit card use,” said Gina Pask, PSCU manager of debit program management and development. PSCU is a credit union service organization based in St. Petersburg.


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