JACKSONVILLE, Fla. -- A technology CUSO consisting of four large credit unions has signed a deal with Fidelity National Information Services, the card processor for the majority of credit unions
Open Technology Solutions is a CUSO whose four member-credit unions include the $1.9 billion Bellco Credit Union, the $3 billion Bethpage Federal Credit Union, the $1.8 billion First Technology Credit Union and the $1.8 billion State Employees of Maryland Credit Union. FIS announced that three of the four OTS members are moving their credit processing to FIS.
The move brings FIS 150,000 credit card accounts and $320 million in credit card outstanding balances, the card processor announced. The three that will start processing with FIS include Bellco, First Technology and State Employees. Bethpage is expected to consider moving its card portfolio over when its contract term becomes open, an FIS spokesman said.
"We are pleased to form this strategic partnership with the OTS credit unions," said James A. Susoreny, executive vice president, FIS. "We look forward to providing OTS credit unions with volume efficiencies and the benefits that our flexible, robust, and technologically advanced BASE2000 platform has to offer."
"OTS credit unions are entrusting FIS with all their credit card transaction processing needs, and I am confident that our expertise will positively impact the credit unions' bottom line," said Bob Bream, president for North America Card for FIS. "Because we own the technologies and services we offer, we are able to provide our clients with tailored solutions and innovations to meet their unique card processing needs."
--dmorrison@cutimes.com
