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ICUL Service Corp. offers text messages on prepaid debit programs
NAPERVILLE, Ill. (8/4/10)--The ICUL Service Corp. (LSC), a subsidiary of the Illinois Credit Union League, is offering “member alerts” as a free enhancement for 830 credit unions nationwide that have LSC’s Everyday Spend and TravelMoney products. Cardholders can receive texts or e-mails about balance information, transactions or suspicious activity. Members can select their preferences for the program through its website, set low balance thresholds and choose the frequency of regular balance notifications. This year, LSC reduced the monthly cost of the Everyday Spend card to the member to $1.75 per month from $2 per month--a portion of which is reimbursed to the credit union. Competitors like Walmart charge $3 or more per month. The monthly fee to the credit union was also removed. In addition, the number of times in which a member can reload or fund the TravelMoney card is now unlimited, LSC said. Everyday Spend card use has increased 149% since 2009. Use of TravelMoney has grown 125%.
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