Eleven credit unions in Ireland have teamed up to form a not-for-profit organization, DCG Card Services, to manage a new product demanded by 84 per cent of its members: debit cards. Although debit cards aren’t exactly new, DCG Card Services was formed to develop and manage the new Debit MasterCard for their members, which will enable these large credit unions to compete directly with the big banks by providing a cost-effective alternative.
“We can strengthen our relationship with our members and they at last can use Tralee Credit Union as their primary financial service provider, their one stop shop for all their everyday banking needs,” said Fintan Ryan, CEO Tralee Credit Union and chairman DCG Card Services. “Members can have their income paid directly to their credit union Access Account and use their debit card to purchase goods in store and online and at any ATM anywhere in the world.”
The cards and transactions aren’t fee free, with annual costs starting at about 36 euros. ◊