Financial institutions need products that provide a strong service to their members while increasing interest and fee income for the credit union. By providing members with the ability to customize their ATM, Debit, and Credit Cards, you can experience up to a 25% increase in transaction-based revenue due to higher card usage.* When your members use their cards and get compliments on the pictures, they keep using that card. When your members start using your cards more often, the credit union receives increased interest income on your credit card loans, and increased interchange income on your debit cards.
How does it work? United Solutions provides a URL that the credit union can place on their website or in a mobile application. Through credit union marketing and advertising, the members are driven to the Picture Card Site where they can easily navigate how to upload a picture, look at it, edit it, and then submit the picture to be printed at the credit union.
The product requires a credit union instant issue machine. Financial institutions that offer instant issue cards have reported a 30% increase in new card applications, as customers appreciate the immediate availability.*
United Solutions has been hosting My Picture Card since 2005, and we have just finished creating our third iteration of the product, with increased functionality and a great new look. The site is fully customizable with the credit union’s logo and colors. Members can upload their own photos or use stock images provided by your credit union.
One of our credit unions got permission from the local high schools in their counties to use their mascots and logos on cards. There was a card for the Lions, the Crusaders, the Trojans, etc. Members showed their loyalty by getting a credit union created high school card. A university had images for their business school, science building, fieldhouse, and etcetera. About 60% of Millennials and Gen Z customers express a preference for personalized financial products, indicating that customization can attract younger demographics.*
Personalized cards have been shown to have activation rates up to 40% higher than standard cards, as customers are more excited to use a card they’ve designed.* Members can agree to have the cards they created displayed on the site as an inspiration to others.
There is a section for FAQ that is completely customizable. An easy ‘How To” helps members pick pictures that look good on a card and explains how best to edit them. There is also a section where you can explain what is acceptable and what is not acceptable on a card. The site includes state sales tax that can be added to the purchase if you are charging for the card(s), and a summary of charges and a final picture of the created card at the end.
The admin section contains reports, stored images, pickup locations, and is used for re-issuing cards as needed.
My Picture Card is a great service that will generate chatter about your credit union and increase revenue for your credit union.
*Industry Reports | Market Research Firms | Surveys and Whitepapers | Academic Journals | Payment Networks*
