Teachers CU To Pilot New CU BusinessCard

January 20, 2005, 1:00 a.m. EST 1 Min Read

SOUTH BEND, Ind. - (01/20/05) -- Teachers CU said it will be amongthe first credit unions to test pilot a new business credit cardbeing introduced by a consortium of credit union vendors. ThePurchase ONE Visa card be used by credit unions to make businesspurchases from any merchants or vendors that accept Visa but itsmain feature is it can be programmed as part of the credit union'scost control process. The card uses an Internet-based solution tohelp control credit union procurement, including automaticallyapplying signature controls and spending limits, including maximumtransaction and discretionary limits to all purchase requestsbefore the transactions can occur. There is also an online recordof every purchase. The card was developed by CUSO called ProcuraLLC that is owned by WesCorp FCU, PSCU Financial Services, CUNAMutual Group and CU Financial Services LP.

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