RANCHO CUCAMONGA, Calif. (3/1/13)--CO-OP Financial Services announced it will offer The Members Group's (TMG) reloadable prepaid cards to its client credit unions. The move is a further extension of CO-OP's partnership with TMG announced last year.
The TMG reloadable prepaid cards allow credit unions to offer their members a convenient means for general purpose purchasing, to budget for travel, or to limit spending by children. Credit unions also can use the cards to reach underserved members who don't have traditional credit or debit cards.
The cards are Visa branded and can be used at ATM and point of sale locations requiring either a personal identification number or signature. A deposit account is not required.
Credit unions that adopt the TMG product will sign contracts directly with TMG, who will be responsible for the sale, implementation, support and invoicing.
CO-OP and TMG work together to provide card processing programs and other payment solutions to the credit union industry. The TMG reloadable prepaid cards are in addition to the load-once prepaid gift cards CO-OP already makes available.