MADISON, Wis.–The Worldwide Foundation, the international development and charitable arm of World Council of Credit Unions (WOCCU), is offering a reminder of an opportunity for credit unions to offer their members a credit card that funds financial inclusion programs in developing nations with every item they purchase.
The Global Good Card is available to credit unions that want to offer a product that shows potential members how their business and social responsibility goals align. Socially-minded Millennials leveraged over $200 billion in buying power in 2018. Offering the Global Good Card can attract those younger consumers, allowing credit unions to generate revenues that benefit their bottom lines, and provide rewards for new and existing members, according to the Foundation.
“A percentage of each purchase made with the Global Good Card benefits WOCCU development projects around the world. Our mantra is ‘Do Good. Do Global Good.’ Credit union members who use a Global Good Card will be a part of that by contributing to people’s financial empowerment through the credit union movement,” said Mike Reuter, executive director of the Worldwide Foundation for Credit Unions.
The World Council said credit unions that choose to offer the Global Good Card will be able to share success stories from all or several WOCCU projects in various regions worldwide.
Ability to Select Stories
“This gives them the ability to select stories in targeting specific member groups or demographic areas of the communities they serve, demonstrating their credit union’s care and concern for member countries of origin,” WOCCU said. “The card also allows credit unions to leverage the idea of global social responsibility to connect with a younger member demographic, acting as a catalyst in growing the global cooperative movement.”
The Worldwide Foundation noted that among the credit unions that offer the card is Summit CU in Madison, Wis. Since 2017, Summit has opened over 2,000 Global Good Cards that have generated more than $51,000 in support of the Worldwide Foundation.
Eased Adoption Process
WOCCU added that to ease the adoption process of the Global Good Card into a credit union’s card lineup, the Worldwide Foundation has partnered with Ser Tech, which will work with credit unions to market the Global Good Card to members and potential members.
“By leveraging its industry-leading Fetch Marketing services, Ser Tech will identify and pre-qualify members and non-members who meet the credit union’s credit criteria,” the Foundation said, “Ser Tech will develop marketing pieces that educate consumers about the benefits of the Global Good Card and offer them to potential adopters on behalf of the credit union. Through Ser Tech’s Fetch prescreen marketing, credit unions can accelerate Global Good Card adoption rates and target a new demographic of socially conscious consumers.”
For info: DoGlobalGood.org/card