University National Bank is a community development bank, whose mission is to be the "Leader in Improving Our Urban Community." University Bank was the first bank to be certified as a Community Development Financial Institution (CDFI) in Minnesota. The bank is part of Sunrise Community Banks holding company with two CDFI-certified sister banks; Park Midway Bank, NA, in St. Paul and Franklin National Bank in Minneapolis.

"From the very first time we met with University Bank there were tremendous synergies between our companies that went far beyond a bank-processor relationship. We were aligned philosophically with our view of the prepaid markets and providing quality financial products to the unbanked and underbanked," says Craig Fuller, CEO of TransCard. "The bank also has very creative marketing plans for their prepaid cards that will differentiate the bank from its competitors. We are pleased to have them as a client and have them using our unique processing technology."

"University National Bank is looking forward to our processing partnership with TransCard," says Nichol Beckstrand, Chief Operations Officer with Sunrise Community Banks. "Working with TransCard will help further our desire to serve underbanked and unbanked communities."