The Global Good Card and Ser Tech

Today’s consumers are interested in using products and services that not only benefit themselves, but also leave a lasting impression on their communities and the world. Corporate Social Responsibility (CSR) is top priority for both Millennials and Gen Z.

• 92% of Millennials are more likely to purchase a product from an ethical company
• More than 9-in-10 Millennials would switch to a brand that is associated with a cause
• 82% of Millennials believe that companies that stay true to CSR outperform others in their field

With Millennial spending power reaching $1.86 trillion and Gen Z approaching $143 billion, it is imperative that credit unions make a concerted effort in CSR while also offering attractive products to these NexGen members. Our answer to these problems: The Global Good Card!

What is the Global Good Card Program?

The Global Good Card (GGC) Program is a credit card offering for credit unions that allows the credit union and its members the ability to contribute to the philanthropic projects managed by the World Council of Credit Unions (WOCCU).

The program is designed to attract new, socially minded members, generate revenue and provide members with the opportunity to give back on an international scale. Members may be more inclined to adopt the card given the charitable dynamics around the credit union fee structure and the member options to donate reward points.

“The Global Good Card was developed by Summit as another way for our members to help people throughout the world become ­financially self-sustaining.” – Kim Sponem, CEO of Summit Credit Union

How does the Global Good Card Program work?

The Global Good Card is a plug & play affinity credit card program to help grow your membership locally while strengthening your commitment as a champion of the global credit union movement in giving back a percentage of card revenue interchange to the Worldwide Foundation for Credit Unions. Every $1 shared with the global credit union movement is leveraged into $50 to grow credit unions worldwide.

• Credit unions will donate a portion of the interchange fees on purchases made by the member to WOCCU development projects at no “cost” to the member.
• Credit unions can arrange for a per card donation to WOCCU projects for each card opened at no “cost” to the member.
• The Global Good Card can integrate with existing card reward point systems and allow members to allocate accrued reward points to WOCCU projects.

How are donations Used?

WOCCU invests millions of dollars each year into development programs to support economic development and financial education throughout the world. WOCCU has also partnered with USAID and the Bill & Melinda Gates Foundation on its development projects. Examples of recent programs include the following:

• Opening a business development center in the Philippines to help women start and grow businesses.
• Helping teens in Kenya gain the skills they need to become farmers and provide income for their families.
• Fostering efforts to create safe and affordable housing in Haiti.
• Creating a mobile app that lets credit unions in Mexico provide financial services in rural areas.

Case Study: Summit Credit Union

Summit Credit Union’s long-standing partnership with World Council created the Program concept with staff and resources leveraged to build, launch and offer the program format for other credit unions to leverage in their markets.

• Size: $2.5 Billion, 189,000 members
• $50,000 in support donated back to Worldwide Foundation since 2017
• 500 cards opened at launch.
• Over 2,000 cards opened today

Ser Tech’s partnership with the GGC

WOCCU has partnered with Ser Tech as the marketing and deployment arm for the GGC. Ser Tech will work with credit unions to market the GGC to members and potential members. Ser will leverage its industry-leading Fetch Marketing services to identify and pre-qualify members and non-members who meet the credit union’s credit criteria. Ser Tech will develop marketing pieces that educate consumers about the benefits of the GGC and offer the GGC to potential adopters on behalf of the credit union. Through Ser’s Fetch prescreen marketing, credit unions can accelerate GGC adoption rates and target a new demographic of socially conscious consumers.

To learn more about the Global Good Card, WOCCU, and Ser Tech’s involvement, join Michael Reuter, Executive Director- World Foundation at WOCCU and Shana Richardson, CEO -Ser Tech on the April 9 Webcast, as they discuss everything Global Good Card Program and how your credit union can offer your members the ability to contribute to the philanthropic projects around the world.

For additional questions, please contact Sales@sertech.com