It's Not Too Late - Gift Cards Are Still Available
Gift card spending will hit $28.79 billion in 2013 according to the National Retail Federation. A survey conducted by the same agency says that 81% of shoppers will buy at least one gift card this year and the average spent on gift cards is $156.86.
Making gift cards available for purchase through your credit union can make holiday shopping easier on your members as well as increase your credit union's revenue stream. LSC offers several programs that allow credit unions to compete with gift card and reloadable "stored value" debit cards.
How does the gift card program work?
- For the purchaser: Buy a gift card at the credit union with cash, check or credit union credit card - the same process that is done at a store.
- For the recipient: Use it like a Visa debit card for purchases, utilizing the balance on the account through signature transactions.
- Once implemented, a stock of cards is ordered through LSC’s secure prepaid access website by a designated administrator. Credit unions store those cards in a vault until issued to members.
- Marketing materials that help showcase the gift card program are available for a nominal fee. These can be ordered directly through the "Prepaid Access Marketing" tab.
For more information about LSC's gift card program, please contact your MCUA field representative. Or you can contact LSC directly by email or at 800.942.7124.