UMB Bank's new Visa card environmentally friendly
By David Milstead, Rocky Mountain News (Contact)
Friday, June 20, 2008
UMB Bank plans to market a new Visa card that gives users extra credit for spending money on environmentally friendly products.
The Eco Rewards Visa Card gives users a standard points reward for purchases. It doubles that award when users buy environmentally friendly products.
UMB says the groups that provide Energy Star, Green Seal and Forest Stewardship Council certification have endorsed the card. Other products, like those from the Seventh Generation, Ecover and Method brands, qualify.
Other rewards credit cards, like one from Wells Fargo, give users the option of cashing in points for environmentally friendly products or supporting renewable-energy programs.
But Kansas City-based UMB Bank thinks the product's double rewards feature for purchases is unique. A quick survey of banks operating in Colorado found no other bank claiming a similar product.
UMB Bank spokeswoman Heather Miller said the credit card emerged from the bank's "Greenworks team," an effort championed by CEO Mariner Kemper.
"We really wanted to encourage folks to look at how they contribute to the environment," she said.
Cardholders will need to complete an online redemption process to claim the double points.
The card also offers the opportunity for users to make donations to environmental groups with the rewards points.
The Denver Botanic Gardens and the Rocky Mountain Institute are among the possible recipients.
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