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WARRENVILLE, Ill. – West Virginia credit unions can now look to Mid-States Corporate for share draft processing. Mid-States and West Virginia Corporate have formed a partnership that gives West Virginia credit unions another processing option in the wake of the Fed announcing it is closing its Charleston, West Virginia office, where many West Virginia CUs are processed. West Virginia Corporate said it selected Mid-States for its pricing, redundant processing centers, and business philosophies. West Virginia Corporate President/CEO Charles Thomas said it was important for West Virginia Corporate to maintain the relationship with members, which the Mid-States deal allows it to do. “We’ll be doing the marketing, we’ll be managing the relationship. The important part for our credit unions is they contract with us, settlement is with us, and member capital will be with us. They won’t be required to have any account relationships with Mid-States to take advantage of the service,” said Thomas. Speaking from the road, Thomas didn’t know how much item processing volume West Virginia CUs generate each month. He said the corporate never thought it made sense to create its own item processing product because there wasn’t enough volume, and the geography didn’t make sense to do other partnerships. With the Fed closing the Charleston office however, it was time for the corporate to look for options. Thomas also noted that the two corporates have a non-compete agreement in place. Mid-States leadership has said in the past that it would not market to other corporates’ members unless other corporates marketed to its members. Thomas said he believes over time most West Virginia credit unions will choose to use Mid-States for item processing.

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