Newsroom
CU card rewards compare well to banks
When it comes to credit card offerings, credit unions stack up well compared to banks, NerdWallet, a consumer-focused credit card review website, noted in a recent blog posting that mentioned NAFCU and its credit union locator site, CULookup.com.
The article uses the comparisons between credit union cards and bank cards in examining a common misconception that once consumers switch their finances from banks to credit unions, they will no longer be able to earn attractive rewards. The credit union card programs mentioned in the blog entry demonstrate that "credit unions aren't lightweights in the rewards card arena," the article said.
In comparing the Premium Travel Rewards card offered by Pentagon FCU, headquartered in Alexandria, Va., with the American Express Platinum Card, NerdWallet noted that there is no annual fee with the Pentagon card. On the other hand, the American Express card charges a $450 annual fee. In addition, Pentagon FCU members earn five times the reward points on airfare purchases with the travel rewards card. The American Express card only offers double points.
Both the Max Rewards credit card offered by Lake Michigan CU in Grand Rapids, Mich., and Bank of America's Americard Cash Rewards card offer consumers a 2 percent rebate on grocery purchases. However, the BofA card includes a quarterly cap on such rebates, while the Lake Michigan CU card does not.
The NerdWallet article cites CULookup.com as an "excellent comparison tool" for assisting prospective members with finding a credit union to join. The blog entry also mentions that federally chartered credit unions cannot charge more than 18 percent interest on their credit cards.
Share This
Related Resources
Add to Calendar 2024-06-26 14:00:00 2024-06-26 14:00:00 Gallagher Executive Compensation and Benefits Survey About the Webinar The webinar will share trends in executive pay increases, annual bonuses, and nonqualified benefit plans. Learn how to use the data charts as well as make this data actionable in order to improve your retention strategy. You’ll hear directly from the survey project manager on how to maximize the data points to gain a competitive edge in the market. Key findings on: Total compensation by asset size Nonqualified benefit plans Bonus targets and metrics Prerequisites Demographics Board expenses Watch On-Demand Web NAFCU digital@nafcu.org America/New_York public
Gallagher Executive Compensation and Benefits Survey
preferred partner
Gallagher
Webinar
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 The Evolving Role of the CISO in Credit Unions Listen On: Key Takeaways: [01:30] Being able to properly implement risk management decisions, especially in the cyber age we live in, is incredibly important so CISOs have a lot of challenges here. [02:27] Having a leader who can really communicate cyber risks and understand how ready that institution is to deal with cyber events is incredibly important. [05:36] We need to be talking about risk openly. We need to be documenting and really understanding what remediating risk looks like and how you do that strategically. [16:38] Governance, risk, compliance, and adherence to regulatory controls are all being looked at much more closely. You are also seeing other technology that is coming into the fold directly responsible for helping CISOs navigate those waters. [18:28] The reaction from the governing bodies is directly related to the needs of the position. They’re trying to help make sure that we are positioned in a way that gets us the most possibility of success, maturing our postures and protecting the institutions. Web NAFCU digital@nafcu.org America/New_York public
The Evolving Role of the CISO in Credit Unions
preferred partner
DefenseStorm
Podcast
AI in Action: Redefining Disaster Preparedness and Financial Security
Strategy
preferred partner
Allied Solutions
Blog Post
Get daily updates.
Subscribe to NAFCU today.