Credit unions excel at helping members understand and control their financial well-being — a key factor in building stronger relationships, trust, and loyalty. To build on that foundation, credit unions should consider expanding credit card underwriting by adding incremental relationship data.

• Using only credit scores is straightforward but can limit your ability to meet members’ needs. Over 14% of people use Buy Now Pay Later (BNPL) technology because they can’t get approved for a credit card. 
• About 60% of people in the U.S. have a score lower than the national average of 714. 
• For those just starting to build credit, Gen Z (679) has the lowest average, but the group with the highest room for growth.

Download this white paper to learn how your credit union can engage more members and stay competitive with a credit card partnership with Elan Credit Card.

*Data sources available in full whitepaper.