CUMONEY Visa: A Reloadable Debit Card Program to Suit Any Need

Prepaid reloadable debit cards are an increasingly popular option for consumers. According to Madeline Aufseeser, senior analyst with Aite Group, fee revenues for prepaid debit card products are projected to reach $1.7 billion by 2016. With 68 million unbanked or underbanked adults in the U.S. and an annual growth rate of 22% in reloadable prepaid cards (CUNA E-Scan Report 2013-2014), there are gains to be made in what some still consider unchartered territory and opens up new growth opportunity for credit unions.

Now is the Time to Take a Closer Look at CUMONEY

The ICUL Service Corporation’s CUMONEY Visa Card, a reloadable, prepaid debit card program, offers a wide range of solutions to meet just about any need—anything from providing a reloadable debit card to members within your community to a replacement for old school traveler’s checks programs.

In comparison to other prepaid card programs, the CUMONEY program is an affordable relationship-building tool that’s easy to implement and carries one of the lowest fee structures in the market. The program allows your credit union to choose between a branded or non-branded card programs.

Cost Containment for College-bound Students and Their Parents

Many parents will soon be realizing the true expense of having a child in college. Why not lend a hand in their cost containment efforts for college-bound students?

Your credit union can offer a safe and convenient way to fund a child’s everyday living expenses while they’re at college with CUMONEY Everyday Spend, a reloadable prepaid debit card offered by ICUL Service Corporations.

The card offers these benefits:

  • Budgeting tool – teaches young adults to live within their means
  • Flexibility – more flexible than a campus card, it can be used at ATMs and all Visa merchants
  • Interest-free – reduces potential for poor credit ratings, since credit card balances aren’t maxed out

The card provides your credit union with cost containment, as well, since all fraud and liability exposure is covered by ICUL Service Corporation.

CUMONEY Visa TravelMoney: One Great Card for Many Great Vacations

According to the U.S. Travel Association, over $597 billion was spent on leisure travel in 2013, logging 1.6 billion personal trips. The CUMONEY Visa TravelMoney® card offers security and convenience to both your travelling members and your credit union. Check out these benefits:

For your credit union:

  • 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 your 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 Visa merchants and ATMs worldwide

Promote CUMONEY Programs with Ease

Check out the marketing tool box for free artwork; chose from stuffers, posters, table tents, and tip sheets—everything is ready to print locally.

Form more information about the ICUL CUMONEY Programs, contact Chantel Hassinger at 800.932.0661 ext. 5263, or email chantel.hassinger@pcua.org.

If your credit union currently offers gift cards, or offered them in the past, and would like to compare ICUL’s program, contact Chantel for an affordable, easy-to-use gift card program.

 

Strategic Link is the NWCUA’s wholly-owned service corporation, using the power of aggregation to provide the Association’s member credit unions with exclusive high-quality, competitively-priced products and discounted services. Contact Director of Strategic Partnerships Craig Reed today to find out how Strategic Link can help your credit union save money while meeting its goals in 2013 and beyond: 206.340.4789, creed@nwcua.org.

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