RANCHO CUCAMONGA, Calif. — Credit unions will soon have another option for offering their members a prepaid card. CO-OP Financial Services, the parent CUSO of the CO-OP Network, has announced it will have a prepaid card ready for participating credit unions to issue by the beginning of the fourth quarter of this year.
The prepaid options will include in-branch loading and reloading, a capability to accept direct deposit, the ability to personalize cards and track card use, the CUSO said.
"The prevailing trend among people 30 and under is to carry less cash in their wallet and to rely on plastic for even the smallest purchases," said Stan Hollen, CEO of CO-OP Financial Services. "The features that will be offered on the CO-OP Reloadable Prepaid Card will allow younger consumers–as well as anybody who prefers to carry little or no cash–to experience a higher level of security, convenience and financial control."
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Once available, the CO-OP Reloadable Prepaid Card can be used to make purchases everywhere MasterCardSM or Visa(R) debit cards are accepted–in-store, online or by phone. The card can also be used to obtain cash at all of CO-OP Network's 25,000 surcharge-free ATMs around the country, the CUSO said.
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