Sam's Club, Wal-Mart's membership-only retail warehouse operation, will issue proprietary credit cards that will carry an EMV chip for authentication beginning June 23, the company said.
The $2.4 billion Service Credit Union of Portsmouth, N.H., opened its 42nd branch. The Tilton branch is the credit union's 25th in New Hampshire and 12th in-store branch and is its first in Belknap County. It's located inside a Wal-Mart on Sherwood Drive.
The big box retailer will launch the proprietary credit cards June 23.
Settlement with SmartBuy also bans retailer from operating in New York State.
Credit unions act at their peril by ignoring Walmart's competitive threat, warned a newly issued Filene Research Institute report.
Wal-Mart remains a "patient strategist" in its bid to offer a full range of financial services and credit unions' core lines--auto loans, small business and demand deposits--are in the target zone.
Following a strategic planning session in 2005, America's First Credit Union-then boasting just above $600 million in assets-set a goal of reaching $1 billion within five years.
After learning that 15% of its small business members were denied a loan to keep their operations running, Sam's Club launched a national pilot program that would make capital available to them.
Sam's Club, a subsidiary of Wal-Mart Stores Inc., has launched a national pilot program that will offer small business loans from $5,000 to $25,000 to its members.
The Competitive Enterprise Institute, a Washington think tank with a conservative reputation,