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Solution Spotlights

Fall is great timing to offer reloadable, pre-paid cards 

 

Do you have yet to offer a reloadable, pre-paid debit card? If you don't someone else will; with 68 million underbanked and unbanked adults in the U.S. and an annual growth rate of 22% in reloadable, pre-paid cards (CUNA E-Scan Report 2013-2014), your credit union shouldn't miss a valuable opportunity to serve members. And with parents looking for a way to help manage their college students' spending, fall is the right time to offer one!

 

Fee revenues for pre-paid debit card products are projected to reach $1.7 billion by 2016, According to Madeline Aufseeser, senior analyst with Aite Group.

 

And right now, more people are looking for a safe and convenient way to help students heading off to college live within their means. It's more flexible than a campus card because it can be used at ATMs and all VISA merchants, and because it's interest-free, students can use it without worrying about actual expenses growing over time.

The CUMONEY Visa TravelMoney card helps you offer the convenience and safety they're looking for while preserving one of the lowest fee structures in the market. The program allows your credit union to choose between a branded or non-branded card program.

 

Check out these benefits:

 

For credit unions:

 

  • Safety — no liability or fraud exposure

 

  • Low cost — no annual fee with CUMONEY-branded program

 

  • Easy implementation — online activation and free downloadable marketing tools 

 

For members:

 

  • Safety — zero liability or threat of checking account being wiped out

 

  • Cost containment — no monthly fees or finance charges

 

  • Ease of use — unlimited reloads and accepted at ATMs and Visa merchants worldwide

 

Act now! The $500 set-up fee on the non-branded card program will be waived for Wisconsin credit unions until September 30, 2013.

 

For more information contact Ben Schweder at (262) 408-6026.


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