FAIRWINDS Credit Union Raises Outstanding Credit Balances More than 20 Percent With Initial PromotionSt. Petersburg, FL, Feb. 13, 2006 – FAIRWINDS Credit Union, Orlando, Fla., launched its first credit card promotion at the end of 2005 and was rewarded with a growth in new accounts and an increase of more than 20 percent in outstanding credit balances. The credit union worked with AdvisorsPlus™ representatives from PSCU Financial Services to design the initial promotion and plan upcoming marketing activities for its credit card portfolio in 2006. The credit union’s initial credit card promotion lasted from the beginning of September 2005 to the end of the year. A direct mail campaign to cardholders offered a credit line increase and a balance transfer offer of 3.99 percent for 12 months. This promotion received an impressive 5.5 percent response rate and added $3.6 million to outstanding credit balances. An employee incentive program generated 500 new accounts during the promotion period. “FAIRWINDS worked closely with AdvisorsPlus representatives to help design the promotion and to set parameters for participating cardholders,” said James Ford, the FAIRWINDS’ Credit Card Manager. “I firmly believe that we can continue to boost outstanding balances by offering different promotions throughout the year.” Ford plans a series of promotions to boost activation and usage rates and the credit union’s marketing department is redesigning the appearance of the credit union’s cards to provide greater appeal. “Credit unions that invest in their credit card portfolios, and devote a staff member to manage the credit card program, can achieve tremendous results. Our AdvisorsPlus specialists are available to help credit unions assess their goals and design successful programs and promotions to meet those goals," said David J. Serlo, President and CEO of PSCU Financial Services. AdvisorsPlus specialists from PSCU Financial Services use the latest intelligence to help credit unions design and launch marketing programs that dramatically increases outstanding balances, as well as activation and usage rates. About PSCU Financial ServicesPSCU Financial Services is the nation's largest Credit Union Service Organization (CUSO). As a non-profit cooperative, the company is owned by more than 500 member credit unions nationwide, representing more than 8 million cardholder accounts and 200,000 online bill payment subscribers. PSCU Financial Services maintains its headquarters and Eastern operations center in St. Petersburg, Florida. The company is also supported by a West Coast operations center based in Phoenix, Arizona. Established in 1977, the company provides a broad array of cost-effective, high quality financial services that include credit, debit, ATM, bill payment and contact center solutions. PSCU Financial Services uniquely offers its members a full range ofprocessing options, any combination from full service to in-house pass through processing for credit, debit and ATM transactions. As the leader in the credit union industry, the company offers gateway access to national and regional networks. It also provides full function ATM terminal driving services. For more information, visit the company's Web site at www.pscufs.com.
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