[This article was updated on 07-14-2010.]
Why is the Wedge offering a credit card, and why now?
For several very good reasons. We want to offer our members access to a credit card with a great rate from a local company. We found our partner in SPIRE (formerly Twin City Co-ops Federal Credit Union).
Like the Wedge, SPIRE is owned by the members it serves. Credit unions typically offer better terms than banks for financial products. They educate their members about wise use of credit and do not try to lure them into ever-increasing debt.
The Wedge can now provide our members a credit card: sponsored by a local credit union, a financial co-op; with a low interest rate; that directs part of the fee revenue back to the Wedge, which donates the money to the Organic Field School.
Because now more than ever, co-ops need to work together. By working with other co-ops, we keep financial benefits "in the family" to stabilize our businesses and provide better services for our members. Like buying locally, it keeps our money working for the people and communities we care about instead of enriching distant investors;
Some financial institutions raised credit card interest rates during the 2008-2009 economic crunch to make up for revenues they lost on bad loans. Even card holders who always paid their bills on time faced huge interest rate increases. This did not happen at SPIRE.
Need one more reason to carry the Wedge Credit Card? It is gorgeous! It will remind you of the Wedge produce department every time you use it, and that can't be a bad thing.
To apply for The Wedge Visa, please contact SPIRE at 651.215.3500 or visit SPIRE's website.