Argos corporate news

Value and convenience is on the cards

25 February 2005

A new partnership between Argos and ABCUL will bring extra value and convenience to credit union membership and increase payment options for Argos customers with a new trial that starts on March 1, 2005.

The pilot schemes, where ABCUL credit unions will issue plastic cards to their members that can be used to pay for goods at any of Argos’ 590 stores nationwide, will initially take place at Partners Credit Union in Merseyside and Capital Credit Union in Edinburgh. Subject to their success, the scheme will be rolled out to other ABCUL credit unions across the country later in the year.

Members will receive a payment card at their credit union and can choose how much money to have loaded onto it. Cash transferred to the card can be from a member’s credit union savings or loan, and all money held on the card will gain a valuable 5% bonus, paid for by Argos.

“This is a great initiative which encourages saving through membership of credit unions and improves the credit options available to our customers,” said Laurence Singer, Argos corporate responsibility manager. “We are very excited about this new strategic partnership and look forward to a very successful trial.”

ABCUL CEO Mark Lyonette added: “The fact that one of the largest retailers in the country wants to team up with ABCUL shows how far the credit union movement has grown in terms of credibility and coverage in the past few years.

“This is a valuable new service for credit union members, which will encourage them to save for their purchases or pay for goods with low cost credit in a convenient and easy way.

“By offering this option to their customers, Argos is ensuring that credit union members can save whilst benefiting from the 5% bonus whether they are using savings or a loan to pay for their goods.”