University National Bank Chooses TransCard as Prepaid Partner

Share Article

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.

News Image
University National Bank is looking forward to our processing partnership with TransCard

"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 ( 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.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Kiki Thompson
Visit website