Security Service FCU First to Offer MasterCard Money Manager™, Enabling Consumers to Easily and Efficiently Budget and Monitor Debit Card Spend
Purchase, NY, October 15, 2009 - MasterCard Worldwide today announced the launch of MasterCard Money Manager™, a new, interactive financial management tool that enables MasterCard cardholders to quickly and efficiently monitor debit card spending for themselves and members of their household. Using the web-based tool, consumers have the ability to review signature and PIN-based MasterCard transactions by merchant category, and create customized categories, making it easy to identify spending patterns and compare actual spend to an allocated budget.
MasterCard Money Manager provides greater control to MasterCard cardholders at a time when consumers are seeking ways to better manage spending. According to MasterCard research, 43 percent of consumers prefer debit to other payment methods because of its ability to provide greater financial control and help them spend responsibly.
Security Service Federal Credit Union (Security Service FCU) is the first financial institution to offer MasterCard Money Manager to its debit customers.
“MasterCard Money Manager provides our members with a simple and convenient way to create a budget and then track how and where they are spending,” said Keith Sultemeier, executive vice president and chief financial officer, Security Service FCU. “Especially in today’s economic environment and as we approach the start of the holiday shopping season, we’re excited to be able to offer our members more control and greater financial management capabilities simply by using their debit card.”
MasterCard Money Manager simplifies record keeping and eliminates the data entry that most budgeting programs require. Users can track household spending on multiple cards daily, monthly or over time and have the ability to sort transactions by date, merchant category, merchant location, card number and name.
“As consumers increasingly seek greater control and visibility into their spending, MasterCard Money Manager provides an intuitive and simple to use way to manage and assess an individual or household budget,” said Patricia Preston, senior vice president, U.S. Debit Product Management and Development, MasterCard Worldwide. “The financial management tool is the latest MasterCard innovation designed to help financial institutions offer superior products that add value and make life easier for their customers.”
About Security Service Federal Credit Union
Security Service Federal Credit Union, headquartered in San Antonio, Texas was founded in 1956 and has grown to become the ninth largest credit union in the nation and the largest in Texas with over $5 billion in assets and more than 700,000 members in Texas, Colorado and around the world. There are 36 Texas locations and 14 locations in Colorado. To find out more about Security Service FCU’s products and services visit www.ssfcu.org or call 1-888-415-7878.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.
