RANCHO CUCAMONGA, Calif. — In a move that could provide credit unions with a significant new option for helping lower income and underbanked communities, CO-OP Financial Services has announced the release of a reloadable debit card, which will also allow access to the CO-OP's nationwide network of surcharge-free ATMs.
"Prepaid solutions continue to experience rapid growth in the card marketplace," said CO-OP CEO Stan Hollen. "The CO-OP Reloadable Prepaid Card offers flexibility and peace-of-mind to traveling members, college students, people on a budget and those who simply don't like to carry cash. The reloadable card also allows credit unions to provide a non-traditional service to the unbanked, which could become a stepping-stone to membership."
Features include in-branch load and reload, direct deposit capabilities, personalization, and online tracking. The reloadable cards are also protected against unauthorized purchases and can be replaced if lost or stolen.
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