News Column

Oswego County FCU Earns Additional Interchange Revenue by Increasing Transactions Nearly 40 Percent with EFT Source’s Card@Once®

May 27, 2014



NASHVILLE, Tenn.--(BUSINESS WIRE)-- EFT 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 in:

  • 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).

    “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.


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    Source: Business Wire


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