Desco Federal Credit Union came to Engage fi in what we call a “split brand and split processing environment” where one provider delivers Credit Card branding, one provider delivers Credit Card processing, another delivers Debit Card branding, and another provider delivers Debit Card processing. In this environment, Desco did not have Principal Membership incentive agreements in place with either provider. The desired outcome was to get offers from providers as one single partner for both Credit and Debit branding and processing, and Engage fi was tasked with presenting the different options to allow the CU to make the best decision for their team and members.
Desco Federal Credit Union and the team from Engage fi completed a deeper analysis into the credit unions’ current set up and desired state. Even through some minor delays, Engage fi and Desco were able to achieve incredible results.
As a result of the project, Desco Federal Credit Union will only have to flip their smaller Credit portfolio (around 3,500 cards) to both a new Credit brand provider along with a new Credit processor. By partnering with Engage fi to complete both projects in parallel, Desco is able to receive the best value, increase operational efficiencies and have minimal impact on their membership. Had the CU completed the analysis separately, they could’ve been at risk for needing to re-issue twice. Engage fi also secured Debit incentives to begin upon signing, and Credit incentives will begin upon completion of the card reissue. Desco Federal Credit Union now has a single point of contact for both Credit/Debit, making management of the services easier internally, which will be felt on the member side as well.
In addition, Desco Federal Credit Union has a Principal Member partnership that will benefit the growth of their portfolios and
