Coopera, TMG Add Prepaid Card Clients
Four more credit unions have committed to prepaid reloadable and gift card programs from The Members Group and Coopera.
They are the $15 million Cornerstone Credit Union of Des Moines, Iowa, $54 million First Central CU of Waco, Texas, $4.8 billion Randolph-Brooks FCU of Live Oak, Texas, and the $2 billion Veridian CU of Waterloo, Iowa.
All four will be offering ATIRA cards and First Central and Veridian will be offering Coopera cards, targeted toward Hispanic consumers.
The Coopera card was developed in partnership with TMG to ease cardholders into the financial mainstream, the company said, by eliminating the need for high check cashing or other fees while requiring no credit history or taxpayer identification number to become a cardholder.
Coopera said it now has 11 credit unions signed up to use its card. The economic development firm is owned by Affiliates Management Company, a holding company of the Iowa Credit Union League.