Elan, Sharonview Federal Credit Union Partner On Credit Card Program

Sharonview Federal Credit Union has partnered with Elan Financial Services to offer a credit card program to its members, according to a press release emailed to PYMNTS.

The partnership will offer a suite of credit card products and services to Sharonview’s over 90,000 members, including reward offerings, online accounts and Sharonview-branded digital card solutions. Elan will also provide the credit union (CU) with marketing tools, promotional programs and employee training. The program offers cardmember services such as an account service team that is available around the clock to assist cardmembers, according to the press release.

Customer service for credit card programs is more important than it may seem, as PYMNTS recently noted. Consumers are most likely to reach account services via phone than an online channel, according to a recent PYMNTS report done in collaboration with Elan, and they tend to report greater satisfaction and resolution when receiving phone assistance. The study also found that 28 percent of consumers surveyed said they would consider switching to a program with superior customer service.

Bill Partin, president and CEO of Sharonview, also noted that partnering with Elan will help the South Carolina-based credit union manage compliance and fraud detection. Fraud detection is especially important when providing credit card services, as consumers often select a credit card because of the security it can provide. In another recent study done in conjunction with Elan, PYMNTS found that credit card users value security and protection against theft of funds more than debit card users. “Consumers also appear to have more confidence in the overall data security of credit cards,” the study found.

Elan provides its credit card program to over 1,300 financial institutions of all sizes across the nation. “We remain committed to broadening our credit union partnerships within payments,” said Matt Carpenter, market director for Elan Partnership Development, in the press release.