The largest credit union in the country has agreed to offer toits business members the services of one of the nation's largestmerchant processors.
|The $56 billion NavyFederal Credit Union has used the Columbus, Ga.-based TSYS for its credit card anddebit card processing for years.
|“TSYS has been a valued partner of Navy Federal for more than adecade, and we look forward to expanding our partnership with themby offering their merchant solutions to our business members,” saidJim Salmon, vice president of Business Services at Navy Federal.“Navy Federal's members expect a high level of service and value,both of which I believe TSYS can consistently provide with theirsuite of merchant solutions.” The credit union has not yetcommented on how many of its 4.5 million members have merchantaccounts.
|As of the end of 2013, according to NCUA data, Navy Federal'scredit card portfolio had roughly 1.4 million cards worth roughly$8 billion.
|“We are excited that Navy Federal has chosen to expand itsrelationship with TSYS to include partnering in the merchantbusiness,” said Mark Pyke, president of TSYS' Merchant Servicessegment. “Their partnership with us, both for issuing and merchantprocessing services, is a great example that shows TSYS productsand services are not just for banks and retailers — we have a lotto offer credit unions as well.”
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