Castle & Minster Credit Union is moving towards a card based banking system for the convenience of its members. Over 160 members have signed up for a new Ecard a VISA DEBIT pre-paid card in the first 2 weeks of its launch.
Tony Hood, Chair of Board of Directors has said "The card offers our members a safe, easy and cost effective way for our members to access their money. In particular members in receipt of benefits have chosen to have their benefits paid directly on to the Ecard and use the card to spend online, in-store (including cash-back), by phone, withdraw cash at ATMs and pay bills, 24/7, 365 days of the year.
One member has said "The Ecard is great. I don't have to spend my time or money getting the bus into town and queue to withdraw my money. I can use my card to buy things online and manage my account online too. Because I can't spend more than is on the card, I know I can't go overdrawn, which helps me manage my money on a weekly basis."
Ecard users receive instant transaction notification by text message, email or over the phone providing up-to -the-minute statements, transfers and standing order facilities.
The Ecard is issued free to members (for a limited time only). It also offers members cash back when they shop and special discounts (up to 60% off) with a number of partner retailers. For example shopping at Asda qualifies for a 4% cash back.
The majority of services associated with the card are free with a small fee for using the card abroad and withdrawing at ATM's for example. The card has a £2 monthly fee.
The introduction of the Ecard is part of a plan to make the Credit Union more efficient, meeting future challenges and providing safer, convenient and accessible services for our members. In particular the Ecard will help the Credit Union remain viable when the benefits system changes.