Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
Reloadable prepaid cards are gateway for Gen Y
ST. PETERSBURG, Fla. (9/24/10)--Credit unions should use reloadable prepaid cards as a gateway product for Generation Y, the underserved and others who cannot qualify for a checking account, according to PSCU Financial Services Director Marketing Antonio Hill. Hill will speak on a panel about debit and prepaid cards at the 18th annual ATM, Debit and Prepaid Forum Oct. 3-5 in Phoenix. “Credit unions can use reloadable prepaid cards as a starter card to teach financial responsibility to young teens,” Hill said. “These cards also provide adults who do not qualify for a checking account with a ‘second chance’ to demonstrate responsible financial behavior. The goal is to develop a relationship with both target groups and ultimately offer them a checking account, debit card and eventually other products that produce higher revenues.” Debit cards offer much greater revenue potential than prepaid cards, but credit unions can use prepaid cards to attract members and earn their loyalty, he added. PSCU Financial Services, a St. Petersburg, Fla.-based credit union service organization, serves more than 1,500 financial institutions nationwide, including credit unions.
Other Resources

RSS print
News Now LiveWire
#creditunions are a compass on the path away from bank fees, according to Daily Finance http://t.co/FcMVTrYyoc
20 minutes ago
.@CUANYtweets young professionals shine during Hike the Hill visit. See #NewsNow http://t.co/8nKW7m2KzQ
1 hours ago
Online comment letter tool--PowerComment--rolled out nationwide by @CUNA @CANVgovaffairs See #NewsNow http://t.co/SLIxOaVe8H
2 hours ago
Landmark #creditunion exam parity bill earns @GovernorQuinn signature http://t.co/WcWePlAnfb
2 hours ago
Fixed-asset cap elimination one item on @TheNCUA board agenda for next week. See #NewsNow http://t.co/N2U5Bq9R24
2 hours ago