Center for Financial Services Features Case Study on CDBA Member Sunrise Community Bank
The Center for Financial Services Innovation has launched an "Impact of Innovation" series, profiling "enterprises and executives who are driving positive change across the financial services landscape." CFSI aims to highlight "why innovation is beneficial to both consumers and the marketplace" by providing examples of organizations leading the way on innovation and impact.
As part of this series CSFI profiled CDBA member Sunrise Community Banks, located in the Twin Cities, recognizing them for their innovation in providing general purpose reloadable prepaid debit cards. As Chief Executive David Reiling stated, "The prepaid card 'is the only model that I’ve been able to find that can facilitate a sustainable method to provide [financial] access to low-balance, high transaction consumers and do it in a convenient and transparent way with fair pricing.'" “'The fact is there are a lot of different uses and flexibilities that can happen. In and of itself, a prepaid platform can be a very convenient access point for underserved consumers.'”