ST. PETERSBURG, Fla. — In conjunction with National Recycling Day, PSCU announced it is collaborating with CPI Card Group Inc. to offer cards that reduce first-use plastic by incorporating recycled plastic into the card body.
According to a CPI survey conducted by an independent research firm, 91% of debit and credit cardholders indicate they are concerned about plastic waste in landfills, and 73% of respondents say it is important that their financial institution is environmentally conscious, PSCU reported.
In the next several months, PSCU said it will begin providing Owner credit unions with access to the following CPI products:
- CPI’s Earthwise upcycled payment card, which is aimed at reducing first-use plastic and reusing plastic waste that might otherwise enter a landfill. The Earthwise Recycled PVC card can contain up to 85% upcycled plastic, depending on design, PSCU said.
- CPI’s Second Wave payment card, which is the first payment card featuring a core made with recovered ocean-bound plastic. CPI estimates more than a ton of plastic will be diverted from entering the world’s oceans, waterways and shorelines for every one million Second Wave payment cards produced, the company said.
Reducing First-Use Plastic
“Our goal in offering products like Earthwise and Second Wave is to reduce first-use plastic in payment cards, either by diverting plastic waste from entering the world’s oceans or by using post-industrial plastic that might otherwise have entered a landfill,” said Terra Grantham, vice president of Strategy and ESG of CPI. “We want to lead the payments industry towards reducing first-use plastic in conjunction with delivering a world-class cardholder experience for consumers. With the help of CUSOs like PSCU, we are getting one step closer to driving a meaningful impact towards more eco-focused card products.”
PSCU said it is working to minimize environmental impact and reduce its carbon footprint where possible. The CUSO said its sustainability efforts include instituting and promoting recycling efforts, reducing consumption, reusing materials and choosing more eco-friendly products, among other initiatives.
‘Reduce, Reuse, Recycle’
“It is clear that financial institutions and their cardholders care about the environment and are looking to partners across the industry for help with adopting the mantra of ‘Reduce, Reuse, Recycle,’” said Cody Banks, vice president of Payment & Fraud Solutions at PSCU. “PSCU is proud to play an active role in helping mitigate the payments industry’s environmental waste, and we look forward to working alongside CPI to provide more eco-focused products to our Owner credit unions and their members.”