Changing the Face of Prepaid, Partnership Offers New Services and Financial Flexibility for Union Members and Their Families
GRANITE BAY, Calif., Sept. 16, 2020 /PRNewswire/ -- Today, Union Plus (UP), Truth4Life (T4L), and Visa announced a new partnership to offer enhanced benefits to union members and their families with the introduction of the Union Plus All-In-One Prepaid Visa® Card. Through this unique partnership, cardholders will be afforded access to new tools to manage their finances.
"We are thrilled to be partnering with Union Plus and Visa to provide union members and their families a truly unique financial management and empowerment tool that goes beyond other prepaid cards," said Hunter Wolfe, CEO of Truth4Life. "We are a community-first organization and know the Union Plus All-In-One Prepaid Visa Card will empower people, change lives, and strengthen communities — especially during this pandemic that has disproportionately affected the vulnerable. It is our mission to expand access to reliable, affordable, flexible financial services to those who aren't served by the current banking system or are looking for other options. This partnership is a major milestone in our ongoing effort, and we are proud to be able to offer more financial freedom to millions of hard-working Americans through this effort."
The Union Plus All-In-One program provides a powerful combination of financial solutions for America's working families. It combines unique member benefits, including Mobile Device Protection, which covers all phones, tablets, and hotspots on a cardholder's mobile carrier account if they are damaged or stolen; Guaranteed Issue Life Insurance with up to $10,000 in coverage; delivered with all the features and functionality of prepaid Visa cards. The card provides these benefits for a monthly fee of $4.95 with a direct deposit of $750 or more and $7.95 without a direct deposit. There are no overdraft or activation fees.1
"We are excited to partner with Truth4Life and Visa to offer the innovative Union Plus All-In-One Prepaid Visa Card to union members and their families," said Mitch Stevens, President of Union Plus. "This product was specifically designed to help modest income and underserved families without requiring a credit check. We are now able to provide members with expanded access to financial services and electronic payments while protecting their families in a time of need."
"We as a company work with and support unions and their members. We worked hand-in-hand with union representatives and leadership to truly understand the challenges facing America's workers and, more importantly, how we could effectively serve the more than 12.5 million working people represented by the AFL-CIO affiliated unions," Wolfe added.
Recognizing that lower-income workers and communities of color are particularly affected by the lack of transparent and affordable financial services and tools that improve financial health, the Union Plus All-In-One Prepaid Visa Card offers an accessible banking platform that provides meaningful benefits to union members from these communities. Terrence L. Melvin, Chairman of the Labor Council for Community Action (LCCA), an organization of AFL-CIO affiliated constituency groups advocating on behalf of Asian, Black, Latino, women, and LGBTQ+ workers, and President of the Coalition of Black Trade Unionists (CBTU) said, "Too often our communities have been treated as a banking desert. It's not often a financial tool can truly change lives and lift communities; this prepaid card can do just that."
In addition to the program's one-of-a-kind features, union members can engage in contactless and digital commerce, directly deposit their paychecks, and remotely deposit a check, all without a credit check. Members can immediately take advantage of account features with digital banking and access to a virtual card. Funds are FDIC insured up to $250,000 to provide cardholders peace of mind, while Visa's Purchase Security and Zero Liability benefits protect against fraud, unauthorized use, and loss. These features make the Union Plus All-In-One Prepaid Visa Card a perfect, unique solution for union members and their families who need financial options and want the convenience of paying with plastic in our increasingly cashless society.
"We are pleased to be partnering with Truth4Life and Union Plus to support the introduction of this unique Prepaid program, which will provide critical financial services and insurance benefits to Union Plus members and family," said Brian Cole, Visa's Head of Product for North America. "This combination of features translates into an attractive program that may benefit those who may be un/under banked. Visa is proud to be working with both organizations, who are committed to providing cost effective, impactful programs to America's working families."
"The Union Plus All-In-One Prepaid Visa Card is ingenious in that it provides cardholders with access to retail banking services in retail shopping and other non-traditional settings," said Jeanne Milliken Bonds, Chair of the South Carolina Community Capital Alliance. "Cardholders can use direct deposit or over 100,000 retail locations in the communities where they live and work to put money on the card, creating paths to economic prosperity and community development. Communities need access to multiple safe and reliable financial pathways."
Starting today, union members can visit www.UnionAllInOne.com to learn more about the card's benefits and request their Union Plus All-In-One Prepaid Visa Card by filling out a simple request form.
BY USING THIS CARD YOU AGREE TO THE TERMS AND CONDITIONS OF THE CARDHOLDER AGREEMENT AND FEE SCHEDULE, IF ANY. The Union Plus All-In-One Prepaid Visa Card is issued by Metropolitan Commercial Bank (Member FDIC) pursuant to a license from Visa U.S.A. Inc. "Metropolitan Commercial Bank" and "Metropolitan" are registered trademarks of Metropolitan Commercial Bank ©2014.
1Other fees, terms and conditions may apply, see cardholder agreement's fee schedule.
About Union Plus
Union Plus, founded by the AFL-CIO in 1986, uses the collective buying power of America's 12.5 million union members to deliver top-quality benefits and services at competitive prices to working families. Union Plus offers a wide range of programs, including credit cards, home mortgages, discounts on wireless service from AT&T, insurance protection, and travel, recreation and entertainment discounts. To learn more, visit unionplus.org.
Truth4Life's Truth Platform™ provides comprehensive financial services to communities and affinity groups whose members are typically shut out from basic financial services most of us take for granted. We know people work hard for their money, and we recognize that financial stability goes beyond having a place to cash a check. We deliver meaningful financial services that actually improve the lives of everyday Americans. To learn more, visit https://www.truth4life.io.