Argos corporate news

Credit union members play their cards right with Argos and ABCUL

21 September 2005

Many more ABCUL credit unions can now help their members to benefit from a new partnership between Argos and ABCUL, now that a successful trial has led to the ACard scheme being extended across the country. ACard brings extra value and convenience to credit union membership and increases payment options for Argos customers.

ABCUL credit unions can now issue cards to their members that can be used to pay for goods at any of Argos' 600 UK stores. 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. Members with an ACard will also be able to register for end of range deals at greatly reduced prices at a special Argos website.

"This is an extension of a great initiative which we believe encourages saving through membership of credit unions and improves the credit options available to our customers," said Laurence Singer, Argos corporate responsibility manager.

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 even more 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."