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CUs can use corporate prepaid incentive cards to reward employees

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ST. PETERSBURG, Fla. (10/22/10)--Prepaid incentive cards are a way for credit unions and other businesses to present monetary awards for outstanding sales or service, holiday bonuses and other achievements. Corporate Incentive Cards offered by PSCU Financial Services, a credit union services organization (CUSO), allow businesses to present employees with either personalized or non-personalized prepaid Visa cards. “Our business organizations like the user flexibility offered by a Visa prepaid card and our staff members appreciate the ease and simplicity of the application process. We can import cardholder personal information directly from a spreadsheet/template, and all the cards can be delivered to our credit union in one shipment,” said Liang Han, general manager of operations, Bank-Fund Staff FCU. Because prepaid incentive cards are not classified as gift cards, they are not subject to CARD Act rules. Therefore, monthly maintenance fees can be charged and they can carry shorter expiration dates, said PSCU Financial Services. The CUSO offers free promotional materials including greeting card-carriers to help credit unions market these corporate prepaid cards to small businesses. Like other cardholders, prepaid cardholders have access to 24/7/365 support from PSCU Financial Services’ Contact Centers. “This prepaid incentive card is just one of many services credit unions can market to attract and serve the needs of small businesses,” said Ron Silvia, director of Debit, ATM & Prepaid Services, PSCU Financial Services. Corporate incentive cards must be bulk ordered, but can be shipped to the credit union or the business.