News from the Wire

CO-OP issues paper on whether to insource or outsource processing

Monday, December 13, 2010 — 12:05:53 (EST)

Rancho Cucamonga, Calif., Dec. 13, 2010 -- CO-OP Financial Services is now processing credit card transactions for a member credit union on its new CO-OP Pass-Through Credit solution. The service is available for immediate implementation by all credit unions.

“With CO-OP Pass-Through Credit, we can now offer our clients the simplicity and lower processing costs of a bundled debit and credit solution,” said Stan Hollen, President/CEO, CO-OP Financial Services. “Credit unions can maintain a high level of control and customization in their credit card programs, and at a great value.”

CO-OP Pass-Through Credit is an internal credit processing solution provided through a single connection to the host and delivered with the same CO-OP fraud, chargeback and credit union servicing processes used for debit and ATM program support.

As part of its “For You” menu of value added services to the industry, CO-OP Financial Services is also offering a white paper entitled “Credit Card Processing: Insource or Outsourced? A Comparative Study.” The paper can be downloaded for free at www.co-opfs.org/smartestprocessing .

For more information on CO-OP Pass-Through Credit processing, contact the Business Development department of CO-OP Financial Services at 800-782-9042, ext. 7140, or via e-mail at: BusinessDevelopment@co-opfs.org.

About CO-OP Financial Services

Based in Rancho Cucamonga, Calif., CO-OP Financial Services is the industry leader in access and convenience products for credit unions. Nearing 30 years of credit union service, CO-OP connects credit union members to their accounts through network services, payment processing, e-commerce, CO-OP Shared Branching and call center services. With a total of 3,000 credit union members, 30 million cardholders, 28,000 surcharge-free ATMs, 4,000 shared branch locations and 160 million-plus monthly transactions, CO-OP Financial Services is the nation’s largest credit union service organization, offering the tools, counsel and leadership to help credit unions prosper. To learn more, visit www.co-opfs.org . Follow CO-OP on Twitter at: twitter.com/COOPFS and keep up with industry issues via the CO-OP Insight Vault blog at: co-opinsightvault.com.

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Source: Company press release.