DES MOINES, Iowa – Coopera, the consulting arm of the Iowa CU League, said eight credit unions have signed on to begin offering the Coopera Card, a reloadable Visa prepaid card built specifically for the Hispanic community.
Coopera said the prepaid card gives Hispanic cardholders access to a secure financial management tool and eliminates the need for paying high fees for check-cashing, money order or money transfer services. A credit history is not required and alternative forms of ID are accepted to obtain the card.
Credit unions that will offer the Coopera Card: Amarillo Community FCU in Texas, United Services CU in North Carolina, Beacon FCU in Texas, KEE FCU in Nebraska, EECU in Texas, Guardian CU in Wisconsin and Greater Iowa CU and Des Moines Metro CU in Iowa.
The Coopera Card was developed by Coopera in partnership with card processor The Members Group, another affiliate of the Iowa league, to help credit unions ease members of the Hispanic community into the financial mainstream.
Secondary account holders can be added to each Coopera Card account, which is described as a safe and inexpensive way to make money available to family within and outside the U.S. The cards can be used anywhere Visa debit cards are accepted. Funds can be loaded onto the Coopera Card via direct deposit of wages, at an issuer’s branch, online or at any Visa ReadyLink merchant.
