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CSS ICUL Service Corp. team up on prepaid cards
MADISON, Wis. (12/04/09)--Growing needs for prepaid card services and increased staff efficiencies are being addressed by a new alliance between CUNA Strategic Services (CSS) and ICUL Service Corp. ICUL Service Corp. will provide Visa prepaid gift card and reloadable debit card programs for credit unions through the relationship. “Because participating credit unions won’t have the overhead and workload of managing the program, they can focus on selling the prepaid products to their members,” said Wes Millar, CSS senior vice president. “Consumers want these products, and we have designed them so they are simple and easy to understand,” said George Fiegle, ICUL Service Corp. executive vice president and chief operating officer. “The LSC gift card is similar to a traditional gift card but can be used everywhere Visa is accepted instead of a single retailer. "CUMONEY is a reloadable debit card program for which there are a wide variety of applications," he added. "Members can reload the balance themselves over the Internet. Thirty-eight state Leagues have partnered with LSC to promote its gift cards and CU MONEY." ICUL Service Corp. serves more than 2,000 credit unions in 45 states with its CUMONEY product line. CUMONEY is designed as a turnkey agent program in which all fees on the cards have been set, without liability or fraud exposure to credit unions.
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