REGIONAL Federal Credit Union Seeks Partnership to Provide Additional Products to its Members
Hammond, IN (August 14, 2008) – In keeping with its mission of “providing personalized services to its members” Regional Federal Credit Union has decided to begin issuing Visa Payroll cards to provide an alternative solution to its members. The Credit Union has chosen Innovative Card Services as its issuer of the cards in hopes to serve a segment of its membership which prior to the Payroll card left little opportunity to reach. The Payroll card will act as a solution to members that do not qualify for checking accounts or for members that only want a debit card product without the responsibility of a check book.
“Regional Federal Credit Union has taken a progressive step in recognizing that not all members fit into a one size fits all box,” expresses Rebecca Kochvar, Managing Director of Innovative Card Services. “Offering alternative solutions to high risk members is a necessity because if you’re not offering them the products they need there is a good chance they are going elsewhere to get them.”
Innovative Card Services offers a web based platform whereby credit unions can issue Payroll cards directly from their branch locations to members that will benefit from the product. The Payroll card offers the cardholder a low cost alternative to cashing weekly payroll checks because the funds are directly deposited, by the employer, to the card on payday thus eliminating check cashing fees.
“We want to be innovative in products and services to be able to serve according to our mission statement REGIONAL federal credit union is committed to being a sound financial organization dedicated to providing ever-expanding personalized services for its family of members,” stated Carol Rusich Executive Vice President for REGIONAL Federal Credit Union.
Founded in 1961, REGIONAL is a member owned and operated financial institution with no outside investors and is guided by a nine-member volunteer Board of Directors. REGIONAL Federal Credit Union has over 84 million in assets and serves 19,000 members.