CO-OP Financial Services is continuing to build its credit card processing service, pitching it especially to CO-OP FS client credit unions that are attracted to the cost savings of bundling their credit and debit card processing together.
The payment CUSO started offering pass through credit card processing late in 2010.
The latest CU to sign on is the 42,000 member, $370 million Financial Plus Federal Credit Union that serves the populations of four counties in the Flint, Mich., area.
"Financial Plus is a long-time debit/ATM processing client of CO-OP Financial Services," said Jill Reno, CEO of Financial Plus FCU. "We are confident that by combining our debit, ATM and credit card processing programs into one vendor platform, it will provide added efficiency and cost savings. In addition, CO-OP has proven to be a trusted, reliable and effective service provider over the years, so transitioning additional processing to them was a prudent business decision," she said. Another factor was that CO-OP is owned by credit unions and, she added, that it is importantto support those who understand the value of cooperatives.