Employees who don’t have a relationship with a financial institution can be dependent on expensive check-cashing companies to get access to their paychecks. Family Trust recently introduced a reloadable card from Visa that provides a safe place to keep money and help the user manage his or her finances.
The debate is just getting started for proposed changes to interchange fees that are charged when consumers use their credit or debit cards. Legislators are trying to rein in financial institutions by regulating the fees. But chances are the proposed changes could actually hurt card users. Lee Gardner, Family Trust’s president and CEO, blogs about the issue at good2cu.org.