RDS Begins Core Processing Conversion with Credit Card Module Launch

INDIANAPOLIS – re:Member Data Services has launched the first phase of its new core data processing system – a software solution the company says can give credit unions more reason to hang onto their credit card portfolios. The RDSNet credit card module is now in use at $48 million JM Associates Federal Credit Union in Jacksonville, Fla., where it is processing an average of 13,000 credit card transactions a month for 1,800 holders of member Visa cards. The new module is intended to give credit unions the ability to compete with larger card providers and retain full interchange income by differentiating their card portfolios and handling them more efficiently, RDS officials say. The ASP module includes real-time third-party interfaces, account opening and maintenance capabilities, statement and report generation and receipt printing. The entire conversion of the RDS core system – cuStar – is taking place on a Microsoft .NET platform and is expected to be completed in early 2006, the company says. RDS serves more than 100 credit unions and other financial institutions nationwide.