Payroll Card is valuable benefit for AFC employees
6/4/2007
Enid, Okla. –Long known for providing valuable benefits, Enid’s largest employer, Advance Food Company, set the bar once again by offering the OneCentralSource Payroll Card to their employees who want more choices for receiving their pay.
The OCS Payroll Card, issued and processed by Central National Bank, works similarly to traditional check cards. The difference is an individual does not need a checking account to qualify for the card.
“There are 56 million unbanked consumers in this country,” said Brud Baker, president and CEO of Central. “A payroll card is an ideal product for introducing them to the mainstream financial system. Without this type of product, cash consumers pay excessive fees for basic financial services and are susceptible to high-cost predatory lenders.”
And when the card is multifunctional, like the OCS Payroll Card which allows the cardholder to remit money for $5, it becomes even more valuable to the employee.
For companies, payroll cards afford them full participation in their Direct Deposit program and an end to expensive paper-based payroll. The cards can also be loaded with bonuses and incentives or used as prepaid corporate expense cards.
“Advance has always been a progressive and thoughtful company,” Baker said. “They are a leader in their industry and our bank is always grateful for the opportunity to work with them.”
Advance employees can split their payroll, with a portion going to a checking or savings account and part being loaded on their OCS Card. The program is voluntary.
“Financial and other banking transaction are a part of everyday life. We want to support things that bring value to our employees. We feel the OCS Payroll Card brings that value,” Brian Hayden, VP of People Services.
Central National Bank of Enid is headquartered in Oklahoma and is held by Central Services Corporation. The bank reported assets of over $437 million in 2006. CNB has been issuing and processing prepaid cards since 2000. For more information about any of the Bank’s products, contact Tania Warnock at twarnock@cnb-enid.com or by phone at 580.747-6616.