INDIANAPOLIS — A new player has entered the credit union prepaid and payroll card market.

Innovative Card Services LLC is a CUSO and wholly owned subsidiary of the $264 million Inova Federal Credit Union, headquartered in Elkhart, Indiana. The CUSO, which got underway in September 2007, offers or will offer soon payroll cards, gift cards, Visa's travel money cards, Visa Buxx cards and reloadable debit cards.

The $55 million Kemba Credit Union, of Indianapolis, is the latest CU to have signed on with ICS. Kemba has started to plan a payroll card program with ICS which the CU says will help it to both reach out to underserved members of the community and different employers among its SEGs.

“KEMBA Credit Union is continually looking for ways to expand services to our members, business partners and our communities,” explains Karla Salisbury, CEO of KEMBA Credit Union. “Some of our members and potential members do not qualify for traditional deposit services due to information obtained in our new account verification process. This is a way to help these consumers have access to their payroll funds via a lower cost alternative to traditional check cashing and other loadable plastic cards.”