DOCSLIB.ORG

Card Types and Ad Hoc Charges

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Card Types and Ad Hoc Charges Card types and ad hoc charges This guide provides a full breakdown of the card types and the associated charge line descriptions that make up your card processing rates. It also provides a list of ad hoc services and charges. If you want to know more about different types of cards, please refer to the Procedure Guide. The latest version can be found here: barclaycard.co.uk/business/files/Procedure-guide If you would like to speak to us about any aspect of your account, please call our Customer Services Team on 0844 811 6666.** UK Consumer Debit UK Visa Delta Detailed card type Region* Visa ATM Debit UK Domestic Visa Classic Debit UK Domestic Visa Infinite Debit Card UK Domestic Visa Mastercard/Eurocard Debit UK Domestic Visa Platinum Debit UK Domestic Visa Premier Debit UK Domestic Visa Proprietary Debit Card UK Domestic Visa Signature Debit Card UK Domestic Visa TravelMoney Debit Card UK Domestic UK Maestro Detailed card type Region* Maestro UK Domestic Maestro Prepaid Corporate UK Domestic Maestro Prepaid Other UK Domestic UK Visa Electron Detailed card type Region* Visa Electron Debit UK Domestic UK Mastercard Debit Detailed card type Region* Mastercard Debit Card UK Domestic Mastercard Debit Gold Card UK Domestic Mastercard Debit Other UK Domestic Mastercard Debit Platinum UK Domestic World Debit Embossed UK Domestic Diners Consumer Debit Detailed card type Region* Diners Club Consumer Debit All Regions Diners International Consumer Debit All Regions Discover Consumer Debit All Regions UPI Consumer Debit Detailed card type Region* UPI Consumer Debit All Regions *The card schemes classify transactions into ‘regions’. This means that you may see the same card type appear under more than one charging line, based on the region of the transaction. Within this document, we specify three different regions: UK Domestic – a UK-registered merchant accepting a UK-issued card; EEA Intra – a UK-registered merchant accepting a card issued within the European Economic Area, as defined by the schemes, except for the UK and Non-EEA Intra – a UK-registered merchant accepting a card issued within the European Licence area, as defined by the schemes, outside of the European Economic Area. Commercial Debit Diners Commercial Debit Detailed card type Region* Diners Club Commercial Debit All Regions Diners International Commercial Debit All Regions Discover Commercial Debit All Regions Visa Business Debit Detailed card type Region* Visa Business Debit Card All Regions Visa Debit Signature Business All Regions UPI Commercial Debit Detailed card type Region* UPI Commercial Debit All Regions Mastercard Commercial Debit Mastercard Commercial Debit Detailed card type Region* Mastercard Commercial Debit Card All Regions Mastercard Corporate Prepaid All Regions Mastercard Executive Business Card—Immediate Debit All Regions Mastercard Corporate—Immediate Debit All Regions World Signia Mastercard Immediate Debit All Regions *The card schemes classify transactions into ‘regions’. This means that you may see the same card type appear under more than one charging line, based on the region of the transaction. Within this document, we specify three different regions: UK Domestic – a UK-registered merchant accepting a UK-issued card; EEA Intra – a UK-registered merchant accepting a card issued within the European Economic Area, as defined by the schemes, except for the UK and Non-EEA Intra – a UK-registered merchant accepting a card issued within the European Licence area, as defined by the schemes, outside of the European Economic Area. Consumer Credit & Premium Visa Credit (Classic/Gold/Platinum) Detailed card type Region* Visa Classic Credit All Regions Visa Credit Gold All Regions Visa Credit Mastercard All Regions Visa Credit TravelMoney All Regions Visa Platinum Credit All Regions Visa Premier Credit All Regions Visa Private Label Credit Card All Regions Mastercard Credit (Standard/Gold/Platinum) Detailed card type Region* Gold Mastercard Immediate Debit All Regions except Non-EEA Intra Mastercard Standard All Regions Mastercard Credit Card All Regions Mastercard Debit Standard Prepaid General Spend All Regions Mastercard Electronic Business Card All Regions Mastercard Electronic Card All Regions Mastercard Electronic Commercial All Regions Mastercard Electronic Consumer Prepaid (Non-US) All Regions Mastercard Gold Card All Regions Mastercard Mixed Bin Immediate Debit All Regions except Non-EEA Intra Mastercard Platinum Card All Regions Mastercard Prepaid (Non-US) All Regions Mastercard Prepaid Card All Regions Mastercard Standard Immediate Debit All Regions except Non-EEA Intra Platinum Mastercard Immediate Debit All Regions except Non-EEA Intra Diners Consumer Credit Detailed card type Region* Diners Club Consumer Credit All Regions Diners International Consumer Credit All Regions Discover Consumer Credit All Regions UPI Consumer Credit Detailed card type Region* UPI Consumer Credit Card All Regions *The card schemes classify transactions into ‘regions’. This means that you may see the same card type appear under more than one charging line, based on the region of the transaction. Within this document, we specify three different regions: UK Domestic – a UK-registered merchant accepting a UK-issued card; EEA Intra – a UK-registered merchant accepting a card issued within the European Economic Area, as defined by the schemes, except for the UK and Non-EEA Intra – a UK-registered merchant accepting a card issued within the European Licence area, as defined by the schemes, outside of the European Economic Area. Consumer Credit & Premium C o n t ΄d Visa Premium Credit Detailed card type Region* UK Charge Card All Regions Visa Infinite Credit Card All Regions Visa Proprietary Credit Card All Regions Visa Signature Credit Card All Regions Mastercard Premium Credit Detailed card type Region* Mastercard Black All Regions Mastercard New World Immediate Debit All Regions except Non-EEA Intra Mastercard Rewards Only All Regions Mastercard World Card All Regions Mastercard World Elite Card All Regions World Mastercard Card All Regions *The card schemes classify transactions into ‘regions’. This means that you may see the same card type appear under more than one charging line, based on the region of the transaction. Within this document, we specify three different regions: UK Domestic – a UK-registered merchant accepting a UK-issued card; EEA Intra – a UK-registered merchant accepting a card issued within the European Economic Area, as defined by the schemes, except for the UK and Non-EEA Intra – a UK-registered merchant accepting a card issued within the European Licence area, as defined by the schemes, outside of the European Economic Area. Commercial and International transactions JCB Credit Detailed card type Region* JCB All Regions Diners Commercial Credit Detailed card type Region* Diners Club Commercial Credit All Regions Diners International Commercial Credit All Regions Discover Commercial Credit All Regions UPI Commercial Credit Detailed card type Regi Region* on* UPI Commercial Credit Card All Regions Visa International Debit Detailed card type Region* Visa ATM Debit Non-UK Domestic Visa Classic Debit Non-UK Domestic Visa Electron Debit Non-UK Domestic Visa Infinite Debit Card Non-UK Domestic Visa Mastercard/Eurocard Debit Non-UK Domestic Visa Platinum Debit Non-UK Domestic Visa Premier Debit Non-UK Domestic Visa Proprietary Debit Card Non-UK Domestic Visa Signature Debit Card Non-UK Domestic Visa TravelMoney Debit Card Non-UK Domestic *The card schemes classify transactions into ‘regions’. This means that you may see the same card type appear under more than one charging line, based on the region of the transaction. Within this document, we specify three different regions: UK Domestic – a UK-registered merchant accepting a UK-issued card; EEA Intra – a UK-registered merchant accepting a card issued within the European Economic Area, as defined by the schemes, except for the UK and Non-EEA Intra – a UK-registered merchant accepting a card issued within the European Licence area, as defined by the schemes, outside of the European Economic Area. Commercial and International transactions C o n t ΄d Mastercard International Debit Detailed card type Region* Gold Mastercard Immediate Debit Non-EEA Intra Maestro Small Business Card Non-UK Domestic Mastercard Debit Card Non-UK Domestic Mastercard Debit Gold Card Non-UK Domestic Mastercard Debit Other Non-UK Domestic Mastercard Debit Platinum Non-UK Domestic Mastercard Mixed Bin Immediate Debit Non-EEA Intra Mastercard New World Immediate Debit Non-EEA Intra Mastercard Standard Immediate Debit Non-EEA Intra Platinum Mastercard Immediate Debit Non-EEA Intra World Debit Embossed Non-UK Domestic Maestro International Debit Detailed card type Region* Maestro Non-UK Domestic Maestro Delayed Debit Non-UK Domestic Maestro Prepaid Corporate Non-UK Domestic Maestro Prepaid Other Non-UK Domestic UK V PAY Detailed card type Region* Visa V PAY Debit UK Domestic International V PAY Detailed card type Region* Visa V PAY Debit Non-UK Domestic Visa Purchasing Detailed card type Region* Visa Purchasing Credit Card All Regions Visa Purchasing Debit Card All Regions Visa Business Credit Detailed card type Region* Visa Business Credit Card All Regions Visa Signature Business Credit UK Domestic *The card schemes classify transactions into ‘regions’. This means that you may see the same card type appear under more than one charging line, based on the region of the transaction. Within this document, we specify three different regions:
Load more

Recommended publications
  • 306-324 Angol Czimer Jozsef.Indd
    306 JÓZSEF CZÍMER CHANGING PAYMENT LANDSCAPE1 József Czímer Th is paper is intended to be diff erent from others. I shall of course discuss almost all new achievements in the forefront of the payments industry – and there is a large number of them – but we shall see how very few systems in fact serve the vast numbers of diff erent payment tools. Also, this article tries not to be too technical, because the authors believe that even bankers claiming to be payments specialist are unfamiliar with the entire value chain of the payment service industry. Th e aim of this paper is to show what the customer sees and what is behind this front and accordingly, to show the interaction between the various elements of the system. JEL codes: G20, G21, G23 Keywords: payment services, bank card payments, mobile payments, payment infrastucure Although the European Parliament adopted European Commission proposal to create safer and more innovative European payments in Brussels on 8 October 2015, known as PSD2, this paper will refer to the PSD1 due to the fact that, fi rstly, the PSD2 has not yet entered into force and, secondly, the PSDs this paper deals with have not been changed signifi cantly. When PSD2 enters into force it will intend to amend and replace PSD1 to •reduce ambiguity; • level the playing fi eld for payments providers; • increase consumer protection; • stimulate innovation; • increase competition; and • enforce the implementation of new payments type. Th e two major provisions and implications of PSD2 will be the followings: • it accepts the Th ird Party Payment (TPP) provision; and • under the “Access to Accounts” (XS2A) rule it will force banks to provide customer account information to third parties via API, if the account holder agrees.
    [Show full text]
  • VX690 User Manual
    Sivu 1(36) 28.9.2016 VX690 User Manual English Author: Verifone Finland Oy Date: 28.9.2016 Pages: 20 Sivu 2(36) 28.9.2016 INDEX: 1. BEFORE USE ............................................................................................................................... 5 1.1 Important ......................................................................................................................................... 5 1.2 Terminal Structure ......................................................................................................................... 6 1.3 Terminal start-up and shutdown .................................................................................................. 6 1.4 Technical data ................................................................................................................................ 7 1.5 Connecting cables ......................................................................................................................... 7 1.6 SIM-card.......................................................................................................................................... 8 1.7 Touchscreen ................................................................................................................................... 8 1.8 Using the menus ............................................................................................................................ 9 1.9 Letters and special characters....................................................................................................
    [Show full text]
  • Public Bank Unionpay Lifestyle Debit Card Product Disclosure Sheet
    PRODUCT DISCLOSURE SHEET Public Bank Berhad (6463-H) Read this Product Disclosure Sheet before you PB Visa/MasterCard Lifestyle Debit – Generic decide to take up the PB Visa/MasterCard/Union Pay Lifestyle Debit. Be sure to also read the PB Visa/MasterCard Lifestyle Debit – Basic general terms and conditions. Savings Account/Basic Current Account PB UnionPay Lifestyle Debit – PB UnionPay Savings Account Date: 1. What is this product about? PB Visa/MasterCard/UnionPay Lifestyle Debit is a two-in-one card combining Visa/MasterCard/ UnionPay debit card and ATM functions. The card is linked to the Savings Account/Current Account/Basic Savings Account/Basic Current Account/PB UnionPay Savings Account (“Banking Account”) of the individual and any expenditure will be deducted directly from the Banking Account. This is a PB Visa/MasterCard/UnionPay Lifestyle Debit, a payment instrument which allows you to pay via a direct deduction of the cost for goods and services from your Banking Account at participating retail and service outlets. You are required to maintain a Banking Account with us, to be linked to your PB Visa/MasterCard/UnionPay Lifestyle Debit. If you close your Banking Account maintained with us, your PB Visa/MasterCard/UnionPay Lifestyle Debit will be automatically cancelled. 2. What are the fees and charges I have to pay? (i) Annual Fee x Generic/PB UnionPay Savings Account: RM8.00 x Basic Savings Account/Basic Current Account: Waived (subject to eight (8) ATM cash withdrawals and six (6) over-the-counter withdrawals per month*) *Note: Fee for exceeding the threshold will be RM1.00 per transaction.
    [Show full text]
  • Rules for FNB Business Debit Card
    RULES FOR FNB BUSINESS ELECTRON DEBIT CARDS The following Rules will apply to the issue and use of an FNB Business VISA Electron Debit Card (with Limited Function or Full Function) issued by First National Bank of Botswana Ltd, at the request of a Customer (“Bank”). The Rules constitute an agreement between the Customer, the Cardholder and the Bank. Section A: Definitions “Account” means the account nominated by the Customer to which the Card is linked as a primary link. “ATM” means an Automated Teller Machine “Card” means the FNB Business VISA Electron Debit Card issued by the Bank, , with ‘Full Function’ or ‘Limited Function’ as the context dictates. Limited Function Refers to Cards that permit Limited Functions only as described in Section 2 (Use of the Card) Full Function Refers to Cards that permit a much wider range of functions as described in Section 2 (Use of the Card) “Cardholder” means the person who has been nominated by the Customer to use the Card “Customer” means the Customer in whose name the Account is conducted with the Bank. “Limits” means the ATM cash, Point of Sale purchase and over-the-counter cash withdrawals limits both locally and internationally, whichever is applicable to the specific Card. “PIN” means the Cardholder’s Personal Identification Number. “Rules” means the rules that apply to the issue and use of an FNB Business VISA Electron Debit Card (Limited Function or Full Function) issued by the Bank on instruction by the Customer to the nominated Cardholder “POS” means a Supplier’s point-of-sale device, which is enabled to accept the Card.
    [Show full text]
  • New Debit Card Solutions At
    New Debit Card Solutions Debit Mastercard and Visa Debit are ready Swiss Banking Services Forum, 22 May 2019 Philippe Eschenmoser, Head Cards & A2A, Swisskey Ltd Maestro/V PAY Have Established Themselves As the “Key to the Account” – Schemes, However, Are Forcing Market Entry For Successor Products Response from the Maestro and V PAY are successful… …but are not future-capable products schemes # cards Maestro V PAY on Lower earnings potential millions8 for issuers as an alternative payment traffic products (e.g. 6 credit cards, TWINT) Issuer 4 V PAY will be 2 decommissioned by VISA Functional limitations: in 20211 – Visa Debit as 0 • No e-commerce the successor 2000 2018 • No preauthorizations Security and stability have End- • No virtualization proven themselves customer High acceptance in CH and Merchants with an online MasterCard is positioning abroad in Europe offer are demanding an DMC in the medium term online-capable debit as the successor to Standard product with an Merchan product Maestro integrated bank card t 2 1: As of 2021 no new V PAY may be issued TWINT (Still) No Substitute For Debit Cards – Credit Cards With Divergent Market Perception TWINT (still) not alternative for debit Credit cards a no alternative for debit Lacking a bank card Debit function Limited target group (age, ~1.1 M 1 ~10 M. creditworthiness...) Issuer ~48.5 k ~170 k1 No direct account debiting DMC/ Visa Debit Potentially high annual fee End-customer Lower customer penetration Banks and merchants DMC/ P2P demand an online- Higher costs Merchant Visa Debit
    [Show full text]
  • Banktocustomerdebitcreditnoti
    Usage Guideline BankToCustomerDebitCreditNotificationV06 - Mixed Bank to Corporate Messages Portfolio - Draft - January 31, 2017 This document describes a usage guideline restricting the base message MX camt.054.001.06. You can also consult this information online. Published by Payments Canada and generated by MyStandards. 30 January 2017 Usage Guideline Table of Contents .Message Functionality ................................................................................................................................................. 3 1 Restriction summary ......................................................................................................................................... 5 2 Structure ................................................................................................................................................................. 6 3 Rules ......................................................................................................................................................................... 7 4 Message Building Blocks ............................................................................................................................... 8 5 Message Components .................................................................................................................................... 10 6 Message Datatypes ........................................................................................................................................ 226 7 Restriction appendix
    [Show full text]
  • TD Generation Union Pay Guide
    TD Generation UnionPay Guide For the TD Generation • All-in-One, HSPA, WiFi • Portal with PINpad • Portal 2 with PINpad COPYRIGHT © 2016 by The Toronto-Dominion Bank This publication is confidential and proprietary to The Toronto-Dominion Bank and is intended solely for the use of Merchant customers of TD Merchant Solutions. This publication may not be reproduced or distributed, in whole or in part, for any other purpose without the written permission of an authorized representative of The Toronto-Dominion Bank. NOTICE The Toronto-Dominion Bank reserves the right to make changes to specifications at any time and without notice. The Toronto-Dominion Bank assumes no responsibility for the use by the Merchant customers of the information furnished in this publication, including without limitation for infringements of intellectual property rights or other rights of third parties resulting from its use. Contents Who should use this guide? .....................................................1 What is UnionPay? .................................................................................. 1 How do I identify a UnionPay card? ....................................................... 1 UnionPay card types ............................................................................... 1 Financial Transactions ............................................................2 Transaction requirements ......................................................................2 PIN entry ............................................................................................................2
    [Show full text]
  • Credit Cards American Express Company 24-Hour Number: (800) 528-2121 (U.S
    Credit Cards American Express Company 24-Hour Number: (800) 528-2121 (U.S. and Canada) American Express Cards include: Personal Green (pictured), Gold, Platinum, Corporate Green (pic - tured), Corporate Gold, Corporate Platinum, Corpo - rate Optima, Optima, Optima Gold, Purchasing Card, American Express Blue (pictured), Green and Gold Rewards, and more. American Express also issues co-branded cards, including Hilton, Delta SkyMiles (pictured), ITT Sheraton Club Miles, and more. American Express issues multiple styles of prepaid cards. Gift Cards (4 are pictured) can be variable load or pre-denominated ranging from $25 to $3,000. Gift Cards are not reloadable and can be personalized or issued anonymously. Reloadable prepaid cards are also available in various styles and offer different functionality. Serve and Bluebird prepaid cards are multifunction cards with many new features such as bill pay, check writing, and funds transfer. All prepaid cards have the word “PREPAID” printed on either the front or back of the card. Account numbers are 15 digits, begin with 37 or 34, and are sequenced 4-6-5. UV light reveals large “AMEX” and phosphorescence on the face of each card, excluding the Gift Card. The Centurion or the American Express Blue Box appears on most Amer - ican Express cards. To establish the validity of a card, or determine its status, please call (866) 375-3684. 98 Credit Cards Diners Club International ® 2500 Lake Cook Rd. Riverwoods, IL 60015 Security Contacts: Law Enforcement Phone Line: 1-800-347-3083 for law enforcement officers Merchant Code 10 Authorization: 1-800-347-1111 for suspicious transactions Diners Club ® account numbers start with 36 or 55.
    [Show full text]
  • Virtual Debit Cards and Consumer Protection
    Virtual debit cards and consumer protection RESEARCH REPORT Produced by Option consommateurs and presented to Industry Canada’s Officer of Consumer Affairs June 2014 Virtual debit cards and consumer protection Option consommateurs received funding for this report under Industry Canada’s Program for Non-Profit Consumer and Voluntary Organizations. The opinions expressed in the report are not necessarily those of Industry Canada or of the Government of Canada. Reproduction of limited excerpts of this report is permitted, provided the source is mentioned. Its reproduction or any reference to its content for advertising purposes or for profit, are strictly prohibited, however. Legal Deposit Bibliothèque nationale du Québec National Library of Canada ISBN: 978-2-89716-017-3 Option consommateurs Head Office 50, rue Ste-Catherine Ouest, Suite 440 Montréal (Québec) H2X 3V4 Tel.: 514 598-7288 Fax: 514 598-8511 Email: [email protected] Website: www.option-consumers.org Option consommateurs, 2014 ii Virtual debit cards and consumer protection Table of Contents Option consommateurs ................................................................................................................... iv Acknowledgements .......................................................................................................................... v Summary .......................................................................................................................................... vi 1. Introduction .................................................................................................................................7
    [Show full text]
  • ABCD Life Sciences Top Titles
    ABCD springer.com Life Sciences Top Titles September 2009 springer.com Biochemistry (general) 2 Biochemistry (general) powerful tool that enables us to seek a deeper under- ine the relevant physiological, emotional, cognitive standing of the complex mechanisms underpinning so and social processes. The resulting understanding of many vital biologic systems. In this fully revised and the functional interplay of these processes gives valu- updated second edition of Bioluminescence: Meth- able insights into the biological roots and benefits of ods and Protocols, expert researchers contribute a religion. readable and utilitarian compilation of the newest More on www.springer.com/978-3-642-00127-7 and most innovative techniques that have emerged in this rapidly expanding and progressively diverse Available field including methods to assess cell trafficking, pro- 2009. X, 304 p. 13 illus. (The Frontiers Collection, ) tein-protein interactions, intracellular signaling, and 978-3-642-00127-7 ▶ 69,95 € apoptosis. Also opening up the possibility to visual- ize and quantify biological mechanisms in real-time and in in vivo settings, the volume also describes the in vivo study of bacterial or viral infections, trans- planted cells, stem cells proliferation, vascular flow, E. Jacoby and tumors. Written in the highly successful Meth- ods in Molecular Biology™ series format, chapters Chemogenomics include brief introductions to their respective top- Methods and Applications ics, lists of the necessary materials, equipment, and reagents, step-by-step, readily reproducible laboratory The establishment, analysis, prediction, and expan- protocols, and notes on troubleshooting and avoiding sion of a comprehensive ligand-target Struc- known pitfalls. Authoritative and cutting-edge, Bio- ture-Activity Relationship (SAR) in the post-genomic luminescence: Methods and Protocols, Second Edi- era presents a key research challenge for this cen- tion provides protocols that are detailed enough to tury.
    [Show full text]
  • Use Your VISA Debit/ATM Card for Purchases and Cash Withdrawa
    6. Limitations on dollar amounts and frequencies of DEBIT CARD AGREEMENT & DISCLOSURE STATEMENT transactions: The following limitations apply to the use of the card. VISA DEBIT/ATM CARD In this Agreement and Disclosure Statement, the words “you” and “your” You may make withdrawals up to the amount in your share draft mean each and all of those who agree to be bound by this “agreement”; account, but not to exceed $500 per day at ATMs, $1500 POS daily “card” means the SUNY Geneseo Federal Credit Union debit card and any transactions, and a limit of 11 daily transactions. The card that works like a check- only better! duplicates, renewals, or substitutions the Credit Union issues to you, 7. Charges for transactions from the Credit Union: There are Use your VISA Debit/ATM card for purchases and “account” means the account designated on the application for your debit cash withdrawals anywhere the VISA logo is no annual fees. Monthly, members receive two free ATM withdrawals card; “Credit Union” means the Credit Union whose name appears on the on our surcharge free machines. Any ATM transactions thereafter will agreement or anyone whom the Credit Union transfers the agreement, and displayed! be charged a $1.00 Credit Union fee. All transactions processed On “transaction” means the use of the account number on the card, Personal . ATM machines other than those specified by the Credit Union will be Identification Number (PIN), or signature when required, to perform a subject to a machine charge. The Credit Union reserves the right to transaction with the card.
    [Show full text]
  • EFTPOS and Visa Debit
    1 Margaret Street DX 10271 Telephone Sydney NSW 2000 Sydney Stock Exchange 02-8299 9000 GPO Box 4720 Internet Facsimile Sydney NSW 2001 www.cu.net.au 02-8299 9607 29 April 2005 Dr John Veale Head of Payments Policy Reserve Bank of Australia GPO Box 3947 Sydney NSW 2001 By e-mail: [email protected] Dear Dr Veale EFTPOS and Visa Debit This submission by Credit Union Services Corporation (Australia) Ltd (CUSCAL) is made in response to the Reserve Bank of Australia (RBA) February 2005 consultation document Reform of the EFTPOS and Visa Debit Systems in Australia. CUSCAL is the leading industry body for credit unions. CUSCAL represents 144 of Australia’s 167 credit unions, provides credit unions with a range of banking and commercial services, and acts for and on behalf of our customers in accessing the payments systems. Credit unions play an important role in the Australian retail banking sector. As mutual, member-focused institutions, credit unions offer a high quality and affordable range of financial and banking services to more than three million members. The different kind of banking that credit unions offer is demonstrated not just in the very high satisfaction ratings1 that the industry continues to record, but also in tangible value delivered to members. In 2004, analysis conducted by CANNEX showed that credit unions are delivering $110 per year in additional ‘member value’ to their customers through interest rates and fees. This value dividend is in addition to the average $70 per year added to retained earnings that is ultimately returned in the form of better products and services.
    [Show full text]