Genpass Unveils New Card Product ForCUs

IRVING, Texas - (07/14/05) -- U.S. Bancorp said its newly acquiredGenpass unit has unveiled a new stored-value card product designedto help credit unions provide debit services to their members. TheMasterCard-branded card allows credit union members to use fundstransferred from their checking or share draft accounts, directlyform payroll, or deposited at the credit unions--with no processingcost or fraud risk to the credit union. The card can also be usedby credit unions to provide transaction accounts to prospectivemembers who have yet to establish other accounts with the creditunion.