CUSOs CU Healthcare PayCard, CU*Answers, and Bonifii Combine Strengths to Revolutionize Healthcare Payments

Contact:

Sarah Snell Cooke

sarah@cookeconsultingsolutions.com

CU Healthcare PayCard proudly announces groundbreaking partnerships with leading Credit Union Service Organizations (CUSOs) CU*Answers and Bonifii, heralding a new era in healthcare payments. This collaboration will facilitate a seamless, consumer-friendly financial solution for managing healthcare expenses for credit union members.

The CU Healthcare PayCard is a nationally branded open-loop credit card accepted at any healthcare- or veterinarian-related provider where Visa is honored. This innovative offering, facilitated through credit unions, offers consumers reasonable credit terms and a hassle-free digital application process with immediate card issuance at affiliated provider offices. The product is anticipated to launch in late 2024.

Key features of the CU Healthcare PayCard will include:

• Accessibility at a wide network of healthcare providers, offering convenience and flexibility to cardholders;
• A robust rewards structure, including an annual member rebate of up to $1,000, fostering loyalty and value for consumers;
• Compatibility with Health Savings Account (HSA) and Flexible Spending Account (FSA) funds, allowing for seamless integration with existing healthcare financial tools.

The strength of the CU Healthcare PayCard lies in the collaborative efforts of CU*Answers and Bonifii, who bring their expertise and innovative solutions to the table. Leveraging CU*Answers' suite of loan origination and credit card processing solutions, coupled with Bonifii's revolutionary MemberPass biometric fraud prevention tool, the program ensures a secure and efficient payment experience for cardholders.

Paul Clampitt, principal of CU Healthcare PayCard, expressed excitement about the partnership, stating, "Our collaboration with CU*Answers and Bonifii represents a significant milestone in our mission to provide accessible and affordable healthcare financing solutions. Together, we are empowering consumers to take control of their healthcare expenses."

Geoff Johnson, CEO of CU*Answers, remarked, "We are thrilled to join forces with CU Healthcare PayCard and Bonifii to bring this innovative solution to credit unions and their members. By leveraging our technology and expertise, we aim to enhance the financial well-being of consumers in the healthcare segment."

John Ainsworth, CEO of Bonifii, added, "At Bonifii, we are committed to developing cutting-edge solutions that address the evolving needs of credit unions and their members. Our collaboration with CU Healthcare PayCard and CU*Answers exemplifies this commitment, and we look forward to delivering exceptional value to consumers."

CU Healthcare PayCard, CU*Answers, and Bonifii collectively represent a trifecta of expertise and innovation in the credit union industry, poised to revolutionize healthcare payments for consumers nationwide.

About CU Healthcare PayCard

CU Healthcare PayCard, a Credit Union Service Organization (CUSO), is a leading provider of healthcare financing solutions, offering a Visa credit product accepted at healthcare and veterinarian-related providers nationwide. With a focus on affordability and accessibility, CU Healthcare PayCard is committed to empowering consumers to manage their healthcare expenses effectively.

About CU*Answers

CU*Answers offers expertise in implementing technical solutions to operational needs and is a leader in helping credit unions form strategic alliances and partnerships. CU*Answers provides a wide variety of services for credit unions including its flagship CU*BASE® processing system (online and in-house) and Internet development services featuring It’s Me 247 online and mobile banking. Additional services include web development, network design and security, and image check processing. Founded in 1970, CU*Answers is a 100% credit union-owned cooperative CUSO providing services to credit unions representing over 2.2 million members and $30 billion in credit union assets. For more information, visit www.cuanswers.com.

About Bonifii

Bonifii, a credit union service organization, is an innovative financial technology company that proactively protects credit union members from becoming victims of financial fraud by providing safe, secure, and convenient identity verification solutions. For more information, visit www.bonifii.com.