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Dominion Royal Credit Union Selects CCS Prepaid Platform -
25SEP08 |
Dominion Royal Credit Union Selects CCS Prepaid Platform
International disbursement
program for international credit union
London 25SEP08 -
CCS UK Ltd
has signed an agreement with Dominion Royal Credit Union to
provide a membership payout card for their 3000 members.
Dominion Royal is a european credit union and economic
association, innovative in private equity funds, a significant
co-investor in direct investments, and an active provider of
liquidity and portfolio management solutions to existing private
equity investors.
Dominion
Royal primarily makes commitments to private equity funds
located in the United States, Canada, the United Kingdom,
Continental Europe, Latin America and Asia with strategies that
include leveraged buyouts, growth financings, natural resources,
venture capital and distressed securities.
Credit unions are democratic, member-owned financial
cooperatives. Each member, regardless of account size in the
credit union, may run for the board and cast a vote in
elections. As financial intermediaries, credit unions finance
their loan portfolios by mobilizing member savings and shares
rather than using outside capital, thus providing opportunities
for generations of members.
The card program which is scheduled to go live at the end of
October will effectively consolidate the payout of investment
dividends and account withdrawals in the form of a prepaid card that will be issued to
the members of Dominion Royal presently predominantly residing
within North America and Europe. Traditionally payouts have been
made as cheque and the interest in a prepaid card program has
been fueled by the need to provide a more rapid means for payout
as well as the long term strategical need for a more cost
efficient way to payout to members dispersed globally.
We have long recognised
the
emergence of credit unions worldwide which empower their members
financial growth and education through access to high quality
and affordable financial services. The
opportunity to facilitate business process improvements for
Dominion Royal through the use of a prepaid card platform is an
exciting opportunity for CCS. This will help in providing
additional value to the strategic evolution of the unions
corporate directives" says Mark McDonald, Director CCS.
Trudy Huynh,
director of Dominion Royal says "finding a solution that would
allow our credit union to process payments to our members is
vital to our growth in North America and worldwide. Dominion
Royal is excited in working with CCS in implementing the prepaid
card platform immediately."
About Dominion Royal
Dominion Royal (www.dominionroyal.com)
Ekonomisk Förening (Economic Association) offers expertise
across wealth management disciplines to help clients advance
towards their goals. Dominion Royal helps individuals and their
families grow, manage and sustain their wealth, to ultimately
leave a lasting legacy. Dominion Royal wealth management
solutions are provided through Dominion Royal and Private Client
Services.
Members are those individuals who were interested in the savings
and investment package offered by Dominion Royal.
The Dominion Royal Equity Share Account,
Oxford Savings Account and Ambassador Investment Account is the
brand name for Dominion Royal’s Personal Savings Accounts,
opened on-line or by account application form through which
applicants become members of the association.
About CCS UK Ltd
CCS UK Ltd (www.ccsprepay.com)
is a consultancy firm which since early 2005 has been consulting
in the area of prepaid debit implementation strategies
specifically across the Europe, Middle East and African (EMEA)
region, expanding into Asia Pacific and Latin America during
2006. By developing relationships with issuing banks and
transaction processors CCS guides its corporate clientele to the
most appropriate product offering based on a detailed program
qualification process and guidance by an internal financial
advisory counsel that provides the risk management expertise and
regulatory understanding for both local, regional and global
program positioning. CCS UK Ltd is an authorized MasterCard
Member Service Provider (MSP) and Visa Independent Sales
Organization (ISO) for strategic MasterCard and Visa member
issuing banks.
Contacts:
CCS Operations
Sharon Hay
admin@ccsprepay.com
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