MANHATTAN BEACH, Calif. – Kinecta FCU plans to roll out a new program aimed at helping low-income members to make it easier to add loose change to their savings.
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Under the program, tentatively called Change for Tomorrow, the credit union will set aside change for each transaction conducted and deposit it on a stored value card. "The benefit of a stored value card is you don’t have to mail statements," said Simone Lagomarsino, president of the $4.1 billion credit union.
The program will be rolled-out, probably in March, at the credit union’s 53 Nix Check Cashing outlets. Participants will need to be a member of the credit union.
"Literally, we’re in the final stages of planning," Lagomarsino told The Credit Union Journal.
