University National Bank Chooses TransCard as Prepaid Partner
CHATTANOOGA, Tenn. (Business Wire EON/PRWEB ) December 3, 2008 --
TransCard – a leading provider of prepaid debit card solutions branded
with Discover® Network, MasterCard® and STAR associations – has signed
an agreement with University National Bank in St. Paul, Minnesota to
process prepaid transactions for the bank. University National Bank is a
community development bank, whose mission is to be the “Leader in
Improving Our Urban Community.” University Bank was the first bank to be
certified as a Community Development Financial Institution (CDFI) in
Minnesota. The bank is part of Sunrise Community Banks holding company
with two CDFI-certified sister banks; Park Midway Bank, NA, in St. Paul
and Franklin National Bank in Minneapolis.
“From the very first time we met with University Bank there were
tremendous synergies between our companies that went far beyond a
bank-processor relationship. We were aligned philosophically with our
view of the prepaid markets and providing quality financial products to
the unbanked and underbanked,” says Craig Fuller, CEO of TransCard. “The
bank also has very creative marketing plans for their prepaid cards that
will differentiate the bank from its competitors. We are pleased to have
them as a client and have them using our unique processing technology.”
“University National Bank is looking forward to our processing
partnership with TransCard,” says Nichol Beckstrand, Chief Operations
Officer with Sunrise Community Banks. “Working with TransCard will help
further our desire to serve underbanked and unbanked communities.”
About TransCard
TransCard (www.transcard.com)
is a top ten, stored-value processor and a global provider of
transaction-based processing services. We have provided stored-value
processing services since 1993 and pay card products beginning in 1996.
TransCard differentiates itself in the prepaid card industry by offering
compliant solutions, real value, proprietary technology, mobile
card management and stability. Our products include pay cards, gift
reward cards, fleet services, financial institution stored-value
processing and retail program management. TransCard handles $1.4 billion
in electronic transactions annually and was recently featured as a “10
to Watch” by Intele-Card News.
About University National Bank
University National Bank is a full-service commercial bank in St. Paul,
Minnesota. The bank aggressively lends to economically challenged
communities in Saint Paul and Minneapolis. The bank has created several
lending and depository products to assist underserved neighborhoods gain
access to capital and cash. University Bank is an innovator in providing
new, much-needed services to inner city residents. It is the bank’s
desire to guide individuals back into mainstream banking products to
reduce their cost of obtaining cash. University Bank was awarded the
2004 U.S. Chamber of Commerce Corporate Citizenship Award and its Board
Chair received the 2002 Ernst & Young Social Entrepreneur of the Year.
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