Card Services For Credit Unions, the association of credit unions that process card transactions with FIS, announced today that it will take on a much bigger future role in dealing with both credit unions and the card processor.
Starting today, CSCU will take on the sole sales responsibility for offering FIS credit and debit card processing to credit unions, according to CSCU President Robert Hackney. Hackney added that the association would add a sales staff, which it never had before, and would step up its card portfolio consulting in the move. FIS's role would be to continue to work with credit unions to meet their day to day account needs while CSCU would take over everything else.
Roughly 3,100 of the 4,100 credit unions that offer credit cards are members of CSCU and use FIS for their credit card processing, according to Hackney, while a significantly smaller percentage of those 3,100 process their PIN debit transactions with the company, Hackney said.
"With three processing plaforms for PIN Debit now, we think we are in a particularly strong position to offer credit unions meaningful savings on their PIN debit processing," he said.