Palmetto State Cooperative Finds One Card Rules the Roost

For the third year in a row, Broad River Electric Cooperative, based in Gaffney, South Carolina, topped annual rebates through the CFC and NCSC U.S. Bank One Card program.

In late October, the distribution system received a check for more than $67,000, bringing the total earned from the commercial credit card in the past 3.5 years to more than $161,000.

According to Broad River Electric CFO Jack Rogers, the key to success has been moving as much spending as possible to One Card to not only maximize rebates, but also slice accounts-payable costs by reducing the number of checks issued.

“Our strategy is to engage our vendor base to discuss the credit card opportunity,” Rogers says. “The advantage of immediate payment versus 30-day payment plus mail time is emphasized. We’ve seen very good success with vendors accepting credit card payments. Last year, we focused on increasing One Card use for utility and government payments.”

One Card Offers Stellar Customer Service, Too!

Rogers adds that the cooperative appreciates U.S. Bank’s excellent customer service by phone, Webex training, and a well-designed web page that lets it do most transactional activity online. “Reporting available through online access is flexible and accommodates our needs. Every cooperative should evaluate this program as an opportunity to slow the growth of accounts-payable costs and earn a rebate at the same time. One Card can be a valuable addition to your supply chain.”

One Card Participants Earned Nearly $1 Million in Rebates

Participation in the CFC and NCSC U.S. Bank One Card program, rolled out in 2001, keeps growing, with 375 CFC and NCSC members earning a record $916,942 in rebate checks for the most recent plan year, which ran September 1, 2017, to August 31, 2018.

“Electric cooperatives are increasingly turning to the card for fleet purchases and fuel use, raising monthly credit limits and adding subsidiaries to the program,” explains One Card Program Manager Amy LaVigna. “Beyond the rebate opportunity, One Card lets members reduce the cost and cycle time associated with traditional purchase order and check processes by eliminating paperwork and providing better information for financial decision-making. The card also includes the latest fraud protections and comes with user-friendly online and mobile tools to manage individual accounts.”