Want to Give Cardholders a Reason to Cheer—and Swipe? There’s a Card for That.

School pride isn’t limited to cheering on a school’s sports team. It can also be shown with School Cards offered by your financial institution (FI).

What Are School Cards and How Do They Work?

With the help of TransFund, your FI can set up a partnership with a school (or multiple schools) in your community to design a card that features both your institution’s name and logo, alongside the school’s branding.

Many FIs offer school donations as an incentive to encourage issuance, activation, and cardholder usage. That means each time a cardholder makes a purchase with the card, a small portion of the transaction amount or a set amount (depending on the FI’s preference), is donated to the school. This donation can go towards anything the school needs, such as supplies, upgraded technology, sports equipment, etc. With these cards, you get to show your FI’s contribution to the community, offer a card that cardholders are excited to use, and provide much-needed monetary support for schools.

School Card Benefits

These cards come with many benefits, including:

Higher card usage

TransFund’s School Cards average 33 monthly transactions per card compared to the national average of 30.7 for traditional debit cards. Cardholders keep this card top of wallet and use it more frequently because it allows them to support their favorite school.

Increased interchange income

More card usage also means more interchange income for your institution. For instance, if your FI issued 500 of these cards and each cardholder completed three extra transactions per month, that would equal 18,000 additional transactions per year - each one earning interchange income. Increased monthly transactions allow interchange income to grow incrementally. Since your FI has the option to partner with multiple schools, you can offer cards for several schools in your community. This provides your FI with an opportunity to reach a wider range of cardholders, earn even more interchange income, and contribute more school donations.

Positive brand image

Did you know that consumers prefer to engage with (and give their business to) community-minded companies? The statistics below paint a telling picture:

By partnering with a local school, your institution strengthens its reputation as a socially conscious organization dedicated to educational growth within your community.

Cardholder loyalty

Using School Cards fosters a sense of pride among cardholders, and data shows that those who have one keep it longer rather than trading it out for another card.

See How School Cards Have Helped Our Client Make an Impact on Their Community

For our client First State Bank & Trust, adding School Cards to their portfolio was a way to increase their interchange funds while offering a product their community could rally behind. “Our customers took to it very quickly. We had 150 requests to swap from a personal/regular debit card to a School Card within the first month! We accumulate the donations from August to July and present checks to the schools at their back-to-school breakfasts or lunches with their entire district each August. It’s fun for us to present one of those ‘big checks’ to them!” said Kalie Hileman, Call Center Manager VP at First State Bank & Trust.

Since launching their School Cards in 2012, First State Bank & Trust has donated $476,236 to schools in their community. The funds mostly go towards teacher grants, scholarships, educational activities and supplies.

Need Marketing Support? We’ve Got You Covered

Once you add a School Card to your portfolio, you will need to spread the word. To assist, TransFund offers clients free marketing support. We will work with your institution to identify the best ways to promote these cards to your cardholders and develop all the materials you need.

Make Your Own Impact: Add School Cards to Your Institution’s Portfolio

Ready to increase cardholder loyalty, grow interchange revenue, and make a positive impact on your community? Add a School Card to your portfolio today!

Current TransFund clients should contact their Relationship Managers to get started. Not a client? Contact us today to learn more.