Average transactions per month (more than 22 percent);
Average checking account balances (20 percent);
Active cards (20 percent); and
Total spending (more than 17 percent).
NASHVILLE, Tenn.--(BUSINESS WIRE)--
Source, Inc. announced that Oswego
County Federal Credit Union increased interchange revenue after
implementing its patented instant issuance solution, Card@Once®,
which increased total transactions by nearly 40 percent in one year. EFT
Source is a provider of turnkey card programs and personalization
services for ATM and debit cards for financial institutions.
Based in Oswego, N.Y. and serving more than 6,600 members, Oswego
implemented Card@Once to increase card activation and utilization by
delivering new and replacement cards within seconds. Card@Once also
enables Oswego’s members to reap added benefits from its “My Points
Plus” program, which rewards points per transaction on eligible
purchases that can be redeemed for travel, merchandise and gift cards.
Within the first year, the credit union realized significant increases
“Instant issuance strengthens the relationship with our members, reduces
the number of inactive cards and generates additional non-fee income,
which is essential in today’s environment,” said Bill Carhart, CEO of
Oswego County Federal Credit Union. “Card@Once was a clear choice for us
and EFT provided a seamless process - from installation to card
production. Its ability to quickly deliver cards aligns perfectly with
our card-centric strategy and provides a distinct competitive advantage.”
When a member requests a new or replacement card at the branch,
Card@Once securely transfers the data from the branch location to EFT
Source, where it is immediately processed, converted into an encrypted
print file and returned to the branch electronically. Card@Once encodes
the data and delivers a ready-to-use, active debit card. Members can
immediately use the card and self-selected PIN at the onsite ATM, giving
them added confidence that the card works on the spot.
“For nearly 40 years, Oswego has been dedicated to meeting the financial
needs of its members in a timely and convenient manner, with member
satisfaction a top priority,” said Bill Dinker, president of EFT Source.
“Instant issuance is a powerful tool that enables Oswego to quickly
deliver cards to new and existing members and provides ancillary
benefits that strengthen business. We’re thrilled with the tremendous
impact it has made so far and look forward to the long-term benefits it
provides their members.”
About EFT Source Inc.
Established in 1977, EFT Source provides financial institutions with
turnkey card programs and secure personalization of ATM and debit cards
– from conceptual art to creative fulfillment services. Based in
Nashville, Tenn., EFT Source also has a production facility in Colorado
Springs, Colo., and a facility in Green Bay, Wis. that focuses on
marketing and print services. For more information, visit www.eftsource.com.
For EFT Source, Inc.
Michael Touchton, 678-781-7215
Source: EFT Source, Inc.