Income Opportunities: Launch a No-Cost, Turnkey Credit Card Program Within Two Weeks

Today, our focus is on what should be a no-brainer for any credit union without a current credit card program: EZ Launch, offered by the Illinois Credit Union League’s Service Corporation, LSC. EZ Launch is a product without set-up or monthly fees. Getting started with EZ Launch is easy and fast; the current estimated time for implementation is just two weeks!

Your members have credit cards, and if they don’t have yours, you’re missing out on an opportunity for both income and engagement.

EZ Launch is a turnkey credit card program enabling your credit union to enter the market absolutely risk-free. When LSC says this program is turnkey, they mean it – LSC not only contracts with the necessary providers for plastic services, disclosures and program operations, as well as loan underwriting and collections, they also assume all expenses and risk of loss. This includes a 24/7 toll-free customer service line!

Benefits include:

  • No set-up fees
  • No monthly ongoing costs
  • Members can apply in branch, via https://mycucard.com, or over the phone
  • Members can view their credit card information online via www.ezcardinfo.com on any device, including tablets and mobile phones
  • No lost revenue due to charged-off accounts
  • Other credit union product inquiries will be directed back to you
  • You will have the ability to purchase the portfolio at a later date
  • Variable interest rates between 9.90% and 18.90% with generous credit lines up to $15,000
  • Majority of accounts receive a platinum rewards card to earn points toward merchandise and travel redemptions

In addition to creating another product to offer to your members, the cards generate additional income for your credit union of 5% of all finance charges paid. Plus, LSC pays an additional $50.00 reimbursement for any approved referral with a TransUnion credit score over 650 for the first year on the program.

Your responsibilities? Actively market the credit card program using in-branch marketing, statement stuffers, and Web graphics provided by LSC at no cost to your credit union, and then refer credit union members to them for follow-up.

It really is that simple! Did I mention that there are no set-up or monthly fees and that you can be up and running within two weeks?

For more information contact Anthony Mondello, National Sales Director at 800-942-7124ext. 5912 or anthony.mondello@lsc.net

in LSC