SVP Exchange Credit Program Jami Richardson’s Top Priorities for 2017

SVP Jami Richardson (right) shares root beer floats with Fraud Risk Techs Lorie Caldera (front) and Alma Medellin.

What does the Exchange Credit Program do for the organization?

The Exchange Credit Program operates the MILITARY STAR_® credit card program for the Army,

Air Force, Navy, Marine Corps and Coast Guard exchanges. Our core mission is to offer responsible credit solutions to enhance the lives of service members and their families. With more than 1.5 million cardholders across all military branches, MILITARY STAR is the largest in-house private label credit operation in the U.S.*

Our vision is to make MILITARY STAR the only credit card needed on military installations. While there are definite financial benefits for the Exchange, the ultimate beneficiaries are our service members and their families.

What are your top priorities as SVP Exchange Credit Program?

The Exchange Credit Program is focused on five priorities:

• Expand External Growth. We have tremendous opportunities to grow the MILITARY STAR portfolio by extending card usage to Veterans online shopping benefit and Defense Commissary Agency, which can significantly increase earnings for not only the Exchange, but also for sister services.
• Portfolio Risk Mitigation. This means growing our sales smartly by providing appropriate credit limit assignments and subsequent credit increases based on credit worthiness. Our risk management efforts help reduce the Exchange’s exposure to losses. This is a smart strategy as we support Service members and their families, and welcome home 13 million honorably discharged Veterans through the Veterans online shopping benefit.
• Improve the Customer Experience. We are implementing an email strategy that will deliver timely notifications to MILITARY STAR cardholders. Our goal is to engage with them more frequently, and notify them of opportunities to maximize cardholder benefits. Through email, we want to welcome them to MILITARY STAR, inform them when they are just points away from earning a Rewards Card, and notify them when their card is on the way.
• Acquire, Grow and Retain MILITARY STAR cardholders. We are expanding our portfolio of exclusive offers for cardholders, increasing the value of their shopping experience. In addition to 5 cents per gallon fuel savings and 10 percent savings at Exchange restaurants, cardholders will realize greater value when they use MILITARY STAR.
• Maximize Associate Potential. As we expand acceptance of MILITARY STAR at DeCA, MWR and concessions, we are restructuring our operations to focus on account acquisitions, cardholder usage and growing the MILITARY STAR portfolio.

What is your vision for the Exchange Credit Program?

Our vision is to make MILITARY STAR the only credit card needed on military installations. While there are definite financial benefits for the Exchange, the ultimate beneficiaries are our service members and their families. Successful launch and execution of our expansion priorities will increase financial support for critical Quality-Of-Life programs, including child development centers, youth programs and fitness centers on Army and Air Force installations.

This is a new era for MILITARY STAR and an exciting time for the credit program. We will be involved in every touch-point to ensure the best outcomes for our customers.

*Source: The Nilson Report, June 2017.