Credit card program offers opportunity to “Do Global Good”
Worldwide Foundation for Credit Unions launches Global Good Card
MADISON, WI (July 1, 2019) — Worldwide Foundation for Credit Unions, the international development and charitable arm of World Council of Credit Unions (WOCCU), is providing a unique opportunity for credit unions to offer their members a credit card that funds financial inclusion programs in developing nations with every item they purchase.
The Global Good Card is now available to credit unions who want to offer a product that shows potential members how their business and social responsibility goals align. Socially-minded Millennials leveraged over $200 billion in buying power in 2018. Offering the Global Good Card can attract those younger consumers, allowing credit unions to generate revenues that benefit their bottom lines, and provide rewards for new and existing members.
“A percentage of each purchase made with the Global Good Card benefits WOCCU development projects around the world. Our mantra is ‘Do Good. Do Global Good.’ Credit union members who use a Global Good Card will be a part of that by contributing to people’s financial empowerment through the credit union movement,” said Mike Reuter, executive director of the Worldwide Foundation for Credit Unions.
WOCCU is the apex association for global financial cooperatives with a network of nearly 90,000 institutions in 117 countries that reach 260 million households worldwide with more than $1.7 trillion mobilized in savings. Leveraging this platform, WOCCU supports financial markets in growing economies, along with global partners, such as USAID, the UN and the World Bank by promoting financial inclusion, strengthening institutions, and providing policy and regulatory support.
Credit unions who choose to offer the Global Good Card will be able to share success stories from all or several WOCCU projects in various regions worldwide. This gives them the ability to select stories in targeting specific member groups or demographic areas of the communities they serve, demonstrating their credit union’s care and concern for member countries of origin. The Card also allows credit unions to leverage the idea of global social responsibility to connect with a younger member demographic, acting as a catalyst in growing the global cooperative movement.
Adding the Global Good Card to its portfolio has been a success for Summit Credit Union. Since 2017, Summit has opened over 2,000 Global Good Cards that have generated more than $51,000 in support of the Worldwide Foundation.
To ease the adoption process of the Global Good Card into a credit union’s card lineup, the Worldwide Foundation has partnered with Ser Tech, which will work with credit unions to market the Global Good Card to members and potential members. By leveraging its industry-leading Fetch Marketing services, Ser Tech will identify and pre-qualify members and non-members who meet the credit union’s credit criteria. Ser Tech will develop marketing pieces that educate consumers about the benefits of the Global Good Card and offer them to potential adopters on behalf of the credit union. Through Ser Tech’s Fetch prescreen marketing, credit unions can accelerate Global Good Card adoption rates and target a new demographic of socially conscious consumers.
Leverage global today! Download the Global Good Card integration kit at DoGlobalGood.org/card
For more information about starting a Global Good Card program at your credit union, contact Mike Reuter at mreuter@woccu.org.
About World Council of Credit Unions
World Council of Credit Unions is the global trade association and development platform for credit unions. World Council promotes the sustainable development of credit unions and other financial cooperatives around the world to empower people through access to high quality and affordable financial services. World Council advocates on behalf of the global credit union system before international organizations and works with national governments to improve legislation and regulation. Its technical assistance programs introduce new tools and technologies to strengthen credit unions' financial performance and increase their outreach.
World Council has implemented 300+ technical assistance programs in 90 countries. Worldwide, 82,758 credit unions in 97 countries serve 404 million people. Learn more about World Council's impact around the world at www.woccu.org.
