Discovering the untapped potential in Cardinal’s market intelligence
Cardinal Credit Union inherited a card portfolio that wasn't the right mix to compete in today’s environment. To help achieve primary growth, Cardinal established three main goals that they needed help with:
- Increase usage from existing cardholders — become "top of wallet"
- Create activation campaigns to re-energize dormant accounts
- Attract new cardholders from surrounding markets, especially in higher-income areas near their branches
Cardinal had been trying to accomplish these goals for some time when they were approached by their dedicated Visa Account Executive regarding Portfolio Insights — a product within the Visa Analytics Platform, available at no additional cost to Community Growth Acceleration Program participants. Portfolio Insights enabled Cardinal to access payment data and harness actionable insights that led to changes aimed to drive greater card usage, reduce transaction declines and increase adoption of their cards. Cardinal embraced the product and encouraged staff to use it by establishing quarterly meetings that include a Visa expert. This helped foster a greater appreciation for the value of Portfolio Insights, and an understanding of not just how to read their data — but how to leverage it to their full advantage.
Utilizing Visa as a catalyst for card growth
By embracing Portfolio Insights and reviewing it in conjunction with their internal reporting, campaign metrics and other strategic outreach efforts, Cardinal Credit Union is able to successfully track growth and measure performance against their benchmarks.
+9% increase in transaction
+3% lift in active card count
+21% in new active cards
Cardinal continues to leverage valuable data from Portfolio Insights to unveil even more market intelligence, empowering them to stay ahead of their competition and truly thrive in their local market.
Additional benefits available exclusively to Visa community financial institutions
Take advantage of additional solutions for Visa community financial institutions like:
- Co-branded Visa and Marvel comics
- Visa University courses and certifications
- Exclusive white papers and research