CO-OP Names Summit as Outstanding Processor

CORVALLIS, Ore. – Summit Information Systems is the sole core processor to receive the “Tier One-Outstanding Processor for 2002″ award from the CO-OP Network, the nation’s largest credit union-owned electronic funds transfer network, the companies said. Summit’s core system was recognized for its ability to support all types of EFT transactions at volumes exceeding 500,000 transactions per month, to respond to 97% of all transaction requests within three seconds or less, and to evaluate and respond to all transaction requests with an overall approval rate of 94% or higher, the companies said. The award was based on transactions processed from June 2001 to July 2002 by Summit client S.A.F.E. Federal Credit Union of North Highlands, Calif. Gene Polito, COO and EVP at CO-OP Network, said the $1 billion CU demonstrated the best processing performance among all CO-OP Network members, which includes nearly 400 credit unions served by more than 30 software vendors.