Eight credit unions have signed on to begin offering theCoopera Card in 2012.

A reloadable Visa prepaid card built specifically for theHispanic community, the Coopera Card provides financialinstitutions with a tool for attracting new members and earningadditional interchange income.

Coopera is a bicultural, bilingual economic development firmmajority owned by the Iowa Credit Union League. The card is beingoffered in partnership with The Members Group.

The prepaid card gives Hispanic cardholders access to a securefinancial management tool and eliminates the need for paying highfees for check cashing, money order or money transfer services,Coopera said. A credit history is not required and alternativeforms of ID are accepted to obtain the card.

Credit unions that will offer the Coopera Card in 2012 includethe $178 million Amarillo Community FCU, Amarillo, Texas; the $56million United Services CU, Asheville, N.C.; the $120 millionBeacon FCU, La Porte, Texas; the $11 million KEE FCU, Kearney,Neb.; the $1.3 billion EECU, Fort Worth, Texas; the $283 millionGreater Iowa CU, Ames, Iowa; the $42 million Des Moines Metro CU,Des Moines, Iowa; and the $232 million Guardian CU, West Milwaukee,Wis., Coopera said.

Secondary account holders can be added to each Coopera Cardaccount. The cards can be used anywhere Visa debit cards areaccepted. Funds can be loaded onto the Coopera Card via directdeposit of wages, at an issuer's branch, online or at any VisaReadyLink merchant, Coopera said.

“Reloadable prepaid cards are an extremely effective way tointroduce the local Hispanic population to community-basedfinancial institutions,” said Miriam De Dios, vice president ofCoopera. “We're so pleased the Coopera Card is taking off soquickly because it signals that credit unions understand the needto adapt products to their new consumers instead of forcing them toadapt to the credit union. The Coopera Card will introducefinancial institutions to a population thirsty for additionalfinancial services and will provide a new source of fee income togrow through this market.”