According to a recent study, 45% of Americans took a summer vacation last year. That’s almost half of the country. The U.S. Travel Association predicts that number to increase in 2017.
Do you know what the most popular activity was during summer travel? 54% said shopping!
Credit unions, your members are likely to be on the go this summer. They are hitting the road, or the skies, and they are spending. As their trusted financial partner, are you preparing them with the right travel tools?
Not sun screen or comfortable shoes.
Are you offering them something to protect their money and their private account information while they’re off shopping? After all travel is meant to create happy memories, not reminders of skimmed credit card numbers and identity theft. The sad truth is many tourist destinations are also popular for those with less than honorable intentions.
One way credit unions can help protect members from being the next victim of fraud is by offering them a prepaid debit card. They work just like traditional debit cards, but they’re not attached directly to a members’ share draft account or their personal info. You can only spend whatever amount has been loaded onto the cards. That makes them safer than cash, credit cards, and even traditional debit cards.
In most cases, such as with Visa prepaid debit cards, they are accepted all over the world. Many now come standard with the EMV chip, the global standard for card security.
One major benefit to look for when considering a prepaid debit program is member convenience. For instance, the CUMONEY® Visa TravelMoney prepaid debit card offers a free companion app so members can check their balance and transaction and manage their card from anywhere, 24/7.
By offering your members a prepaid debit card to take along on their vacation, you can make sure they’ve got exactly what they need to ensure happy summer memories!