Bassett Capital Group Managing Director Chuck Andrews’ latest article examines an increasingly important question for credit unions: Are their debit and credit cards becoming part of members’ everyday routines, or is another issuer winning that relationship?
Weekly digital-wallet use among credit union members has increased from 11% in 2022 to 42% in 2026. Debit has also overtaken credit as the card type most commonly loaded into digital wallets for the first time. As Chuck explains, however, having a card loaded or keeping an account open does not necessarily mean the card has secured the most valuable position in the member’s wallet.
The article explores what can be lost when a credit union’s card becomes the second choice, including interchange revenue, credit balances and an important source of daily member engagement. It also explains why debit and credit performance should be evaluated separately using different measures.
Chuck identifies three actions credit unions can take:
Score debit and credit performance using the appropriate internal and peer benchmarks.
Select a specific performance gap, assign an owner and establish a defined timeframe for improvement.
Review how quickly newly issued cards are added to digital wallets and whether they are subsequently used.
The goal is not simply to issue another card. It is to earn a place in the member’s everyday financial routine.
Read the full article and join the conversation on LinkedIn.