Formerly Plastyc, Banking Up is a leading independent provider of online banking and payment services. Banking Up commits to the Compass Principle of embracing inclusion by providing expanded streamlined access to new and existing accounts for customers. Banking Up will also promote consumer success by fostering positive consumer behavior through interactive online help functionality and multi-channel messaging and alerts.
Core Innovation Capital is a venture fund focused on investing in scalable financial technology companies that serve unbanked and underbanked. Core Innovation Capital commits to integrating the Compass Principles into its investment underwriting process and annual impact audit.
Float Money is a shopping club that promotes financial health through smart planning, shopping, and financing. The company is pioneering an interest-free line of credit powered by consumer spending, and commits to provide this product, over the coming year, to at least 5000 people, including 2000 customers with low credit scores or thin/no credit files.
Meta Payments Systems is a leading innovative service provider for prepaid card accounts. It has committed to tightly integrating practices from CFSI’s Compass Guide to Prepaid into its policy and guidelines regarding program parameters including, but not limited to: fees, disclosures, and use of cardholder information. All new and existing programs will be required to operate under the new policies and guidelines.
National Community Tax Coalition (NCTC) is the nation's largest, most comprehensive membership organization for community-based organizations that offer free tax and financial services to low-income working families. NCTC’s membership of over 2300 organizations empowers low-income workers to build a more secure financial future for themselves and their families through innovative financial services. NCTC has committed to providing a multi-functional prepaid card account for its member organizations to reduce the number of unbanked clients that frequent Volunteer Income Tax Assistance (VITA) locations, to promote direct deposit, and to reduce tax preparation clients’ fees paid to cash tax return checks.
NetSpend, a leading provider of reloadable prepaid debit cards and related financial services to underbanked consumers in the United States, commits to promoting success by increasing the amount of money that it puts back into customer’s accounts in order to lower a customer’s total cost of ownership for the product and drive customer retention and product usage. NetSpend’s goal is to increase the amount of money that NetSpend cardholders save using their NetSpend card by 5% over the next year
Sunrise Banks actively deliver financial resources to small businesses, nonprofits, and economically challenged neighborhoods in the Twin Cities of Minneapolis and Saint Paul. Sunrise Banks has already integrated the Compass Principles into its Prepaid Card program review process, and it commits to incorporate the Compass Guide to Prepaid in its assessment of programs issued through the bank. University Bank will weave the Guide into its communications with prepaid program managers by revisiting the existing program application process and by conducting regular reviews of adherence to best practices outlined in the Guide.