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Vision Super goes with Cuscal on banking
Victorian-based local government industry fund Vision Super has entered into an agreement with Cuscal to extend its engagement with members via a transactional banking service linked to their investment funds.
Vision Super chief executive Rob Brooks said the partnership with Cuscal allowed the fund’s members to keep their money invested in Vision’s tax-free investment funds, then use Cuscal’s banking infrastructure to draw down their funds and pay their bills.
The arrangement will see fund members able to access investment funds using Visa cards branded as Vision Super but with back-office support provided by Cuscal.
Discussing the initiative with Super Review, Brooks and Cuscal general manager, customers, Phil Hurley said the arrangement had been initiated in June and would become fully available to members early next year.
“Basically, we are helping our members keep their funds in the tax-free superannuation environment for longer,” Brooks said.
Hurley said the provision of the transactional banking services to Vision Super gave Cuscal a tremendous platform to deliver on its business plans and extend its reach into new superannuation markets.
AUTHOR
Mike Taylor
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