ENGLEWOOD, Colo. -- The 115,000 members of the $1.5 billion Tower Federal Credit Union, headquartered in Laurel, Md., don't have to wait very long for their new credit and debit cards.
The CU is using the instant card issuing system offered by Dynamic Card Solutions, the company said. As of the end of September 2006, NCUA records showed that Tower has a credit card portfolio of 36,000 card accounts. Members are able to get their cards on the same day, and in most cases, the same hour that they are approved.
"Our members love the fact that they can now walk into a branch, and within minutes, get their debit card with their own selected PIN and leave with their card that's ready to use," said Vickey Rohde, senior analyst of research and development for Tower. "Even if they are outside the state of Maryland and they need their card replaced, with CardWizard we can instantly issue a card and overnight it to them anywhere in the world. I don't think you can ask for better service than that."
Tower Federal Credit Union's management identified a need to reduce the time associated with members receiving debit cards after applying for a new account or replacing lost or stolen cards, which could be as long as 14 days, DCS said.
Implementing the card issuing system required a pilot program and training staff to use the equipment. Since its inception last year, the CU has issued more than 9,500 debit cards, DCS reported.