SOLIDARITY COMMUNITY FEDERAL CREDIT UNION SEEKS PROGRESSIVE SOLUTION FOR MEMBERS
Kokomo, IN (August 5, 2008) -- Solidarity Community Federal Credit Union found the answer to a looming issue when they partnered with Innovative Card Services to offer Payroll Cards. The Credit Union now has a no risk cutting-edge solution to checking account turndowns in the Payroll Card. Solidarity Federal Community Federal Credit Union will launch the Visa branded Payroll Cards to its member’s mid-September.
The payroll card offers a solution that allows a cardholder to have their payroll, social security, disability, child support or tax refunds directly deposited to the card. This enables the cardholder access to their payroll funds similar to a debit or credit card. However, unlike a credit card, the payroll card encourages responsible spending because cardholders only have access to the amount loaded on the card.
“We’re thrilled to partner and support Solidarity Community Federal Credit Union in their effort to assist a very important segment of their membership”, explains Rebecca Kochvar of Innovative Card Services. “Solidarity Community Federal Credit Union recognizes the need to offer checking account alternatives to higher risk members in an effort to curb them from going elsewhere for their financial needs. It’s getting more and more difficult to qualify everyone for checking accounts so the need is definitely there and the solution is undoubtedly the PayCard.”
Innovative Card Services, a Credit Union Service Organization (CUSO), offers an entire suite of prepaid cards to credit unions. The suite includes Visa branded Payroll, Gift, TravelMoney®, and Reloadable Debit Cards.
“Solidarity became a community credit union in January 2001”, states Diana TenBrook Vice President of Marketing for Solidarity Community Federal Credit Union. “We went from serving a unique group of higher income autoworkers to offering products and services to a more diverse field of membership. Partnering with Innovative Card Services and offering the Reloadable Debit Cards will definitely help us meet the needs of more members in the community.”
Solidarity Community Credit Union has over $155 million is assets and serves over 24,000 members in Kokomo, Indiana.
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