SOURCE: American Federation of Musicians

American Federation of Musicians

October 26, 2011 07:00 ET

New American Federation of Musicians Prepaid Card Offers Union Members Convenient Access to Royalty Payments

Royalty Payments Can Be Direct Deposited for Access and Use Whether Members Are at Home or Touring Globally

NEW YORK, NY--(Marketwire - Oct 26, 2011) - The American Federation of Musicians, a union serving more than 90,000 professional musicians in the United States and Canada, today announced the launch of its AFM Union Plus Visa Prepaid Card. The AFM processes millions of dollars annually in royalty payments for their members. Using the AFM Prepaid Card, AFM members can now have their royalty payments or payroll direct deposited to their prepaid cards for convenient access and use whether they are at home or touring globally.

"Over seventeen percent of AFM members are touring and constantly traveling around the world on theatre and symphonic musical projects," said AFM President Raymond M. Hair, Jr. "We are dedicated to providing value and benefits to all of our members as well as creating efficiencies within our organization. The AFM Prepaid Visa Program provides members with an easy way to instantly receive their payroll or royalty payments as well as access a 5.10% APY savings account."

For AFM union members who are unbanked, the AFM Union Plus card offers the lowest-cost, feature-rich prepaid card available in the market today. For AFM members with a checking or savings account, the AFM Union Plus card offers an alternative to traditional checking accounts, the high-cost of overdraft fees, and the recent levies of debit card fees on checking accounts. Additionally, the AFM Prepaid Card offers a seamlessly attached savings account that pays cardholders an Annual Percentage Yield (APY) of 5.10% on account balances.

The AFM Prepaid Card is distributed and processed by Rev Worldwide, which develops and markets a full range of integrated mobile payments and prepaid card solutions. For information on the AFM Prepaid Card, visit: www.myunionprepaid.com.

About AFM
With a network of 240 local unions in small and large cities throughout the US and Canada, The American Federation of Musicians is the largest organization in the world representing the interests of professional musicians. Whether negotiating fair agreements, protecting ownership of recorded music, securing benefits such as health care and pension, or lobbying our legislators, the AFM is committed to raising industry standards and placing the professional musician in the foreground of the cultural landscape. For details visit: www.afm.org.

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