After almost 35 years processing credit union credit card transactions, Town North Bank has sold off its last stake in card processing.
International card processor First Data Corp announced that its measure of consumer spending on their debit and credit card was soft in June, indicating that consumers are still not returning vigorously to the market.
Credit union owned Town North Bank got out of the card processing business to streamline its operations and restore some lost capital, according to its CEO Steve McDonald.
In a step designed to make it more appealing to credit unions seeking to consolidate their ATM and card processing, Credit Union 24 has announced that it can now bill debit card payments without personal identification numbers.
Credit unions that rely on card interchange for a good part of their noninterest income should see improved numbers from February and going forward, according to First Data Corp.
WASHINGTON -- CSCU President Robert Hackney wants everyone to know that the association's days of being seen as playing a more junior role with card issuing credit unions have ended.
An executive with CO-OP Financial Services reported that the ATM, EFT and shared branching CUSO will begin offering credit card processing to its participating credit unions in 2010.
An executive with CO-OP Financial Services confirmed today that the ATM, debit and shared branching CUSO expects to offer participating credit unions credit card processing sometime in 2010.