The efficient payment and purchasing card solution through Visa continues to exclusively help credit unions slash accounting costs as Purchase One surpasses the $1M mark in rebates given back to members in the first quarter of 2008. Not only has the program shattered the rebate milestone for 71 credit unions to date, the program was the second fastest growing North American Purchasing Card portfolio in 2007. What’s more, WesCorp is now #21 amongst North American Purchasing Card issuers (up from #23 last year).*
The recent economy has dictated that business leaders become more cautious and cost-control oriented, which brings a heightened value to products and services that provide greater efficiencies and cost reductions. Purchase One combines the latest web-based technology and expert advice to streamline A/P processes and reduce laborious paperwork. Members enjoy the increased control over purchasing management, accurate reporting and increased float on funds. On top of all that, they can gain rebates up to 100 basis points based on total card spend and the employee efficiency benefits are typically three to four times rebate earnings.
The program can also be extended to credit unions’ business partners to reinforce membership value and increase aggregate rebate earnings within their Purchase One spend. Gaining efficiencies in accounting not only makes sense to a credit union’s bottom line, but also provides another way to help members gain an edge through technological efficiencies.
To find out more information on how to take advantage of the Purchase One program, call (512) 346-6666 or click http://www.wescorp.org/content/demos/purchaseOne/landing/index.html to quickly view a case study, white paper, demo or ROI analysis.
*Statistics are from The Nilson Report, 2008, Number 904, June 2008.
Purchase One is offered by Procura LLC, a credit union service organization (CUSO) jointly owned by WesCorp, MEMBERS Development Company, LLC, Callahan Financial Services Limited Partnership, LLC and PSCU Financial Services.