Across the country, legislators are imposing laws regulating the marketing of credit card programs to college students. Ohio is the latest state to jump on the band wagon. Others are sure to follow.

This crackdown creates an outstanding opportunity for credit unions to talk to their local colleges and other youth-oriented organizations about alternatives – in particular, the reloadable card.

Nothing does the job of a credit card minus the debt risk better than a reloadable card.

Moderately priced (when issued by member-centric credit unions) and loadable by the student, their parents, grandparents – even employers – the reloadable card is a great option for college kids whose communities are rightly discouraging their use of high-interest, temptation-laden credit cards.

Offering the same safety and convenience – not to mention implied status – as a credit card, reloadable cards keep eager co-eds from spending more money than they actually have.

It’s the perfect combination of swagger and security, satisfying both the co-ed and his parents.
 
For more details on how the reloadable card can grow your membership base, check out the white paper I wrote on the topic.