RANCHO CUCAMONGA, Calif. CO-OP Financial Services announced this morning it is extending its partnership with The Members Group to offer TMG’s reloadable prepaid cards to its credit union customers.
The TMG reloadable prepaid cards allow credit unions to offer their members a convenient means of general purpose purchasing, or as a way to budget for travel, or limit spending by children. The cards also enable credit unions to reach underserved members who are unable or unwilling to qualify for traditional credit or debit cards. The TMG cards are Visa branded and can be used at ATM and point of sale (PIN and signature) locations. A deposit account is not required.
The TMG reloadable prepaid cards are in addition to the load-once prepaid gift cards CO-OP already makes available. Credit unions that adopt the TMG product will sign contracts directly with TMG, which will be responsible for the sale, implementation, support and invoicing.
“The TMG program is a very attractive way for our clients to provide their members and non-members with a versatile reloadable prepaid card,” said Stan Hollen, president of CO-OP Financial.
TMG is an affiliate of the Iowa CU League.