North Star Community Credit Union Case Study

How North Star Community Credit Union Grew Its Credit and Debit Programs with Envisant

MEET NORTH STAR COMMUNITY CREDIT UNION

North Star Community Credit Union is a federally insured credit union serving members via many branches and ATM network services in North Dakota. North Star strives to deliver financial solutions, one person at a time.

When the intermediary for North Star’s card program stopped offering its program, the credit union needed a new way to offer credit and debit cards to their members.

Already faced with the challenge of this transition, North Star also learned of potentially burdensome legislation introduced at the state level. These became strong pain points to not only offering quality debit and credit programs, but also to achieving the credit union’s goal for growth.

“We decided that Envisant would be a good fit for us to transition, and at some point, in the future, if we wanted to break away, we certainly could. But we have found true value in being a partner with Envisant. We have had our hands held through major projects. We would never have been able to understand some of the background or details of these projects had we not had the Envisant team guiding us.”

- Joann Bergrud, Chief Operations Officer at North Star

2. Credit and Debit Card Program Strategy Meets Growth Goals

Envisant’s knowledgeable team was instrumental in answering the credit union’s questions and providing insights into new strategies that would help both their debit and credit programs grow while fighting fraud.

RESULTS:
Monthly Savings from Potential Fraud: $20,000+

Credit Program Growth

Envisant guided North Star in keeping their credit program front and center, reviewing all aspects of their strategy. Envisant assisted with a change in terms to adjust the rate on the credit union’s cards to be more in line with the marketplace. Promotion campaigns were introduced with marketing materials and a continuous-running, popular balance transfer promotion was implemented.

RESULTS:

Card Balances up 18.2%

Number of transactions 12%

Sales volume up 12%

Active accounts up 10.7%

Interchange Income up 16%

Total credit card revenue up 25.8%

“If we weren't partnering with Envisant, it would be more difficult to find out what's new and what's coming up. They suggest, ‘maybe this program will do better for you,’ or they analyze your portfolio with you and provide data.”

- Joann Bergrud, Chief Operations Officer at North Star

GOALS MET AND A TRUE PARTNERSHIP FORGED

These results, and the excellent working relationship formed, motivated North Star to remain with Envisant long term.

A smooth card program transition

25.8% increase in total credit card revenue

18% growth in debit transactions

Monthly Savings from Potential Fraud: $20,000+

Burdensome legislation defeated

“We have found true value in that relationship. And that's why we stay. We know we have options. We've had lots of companies asking for our business, but we have stayed with Envisant because we find that partnership to be the biggest value.”

- Joann Bergrud, Chief Operations Officer at North Star

1. A Smooth Transition to a Fresh Start

2. Credit and Debit Card Program Strategy Meets Growth Goals

Debit Program Growth

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