The 107,000-member, $3.2 billion LockheedFCU has signed on with CO-OP Financial Services for credit cardprocessing.
|According to NCUA records, Lockheed had a credit card portfolioof roughly 36,000 active accounts worth roughly $115 million inoutstanding balances as of the end of 2011.
|“Our existing agreement for credit card processing expired andour goal was to improve service for our members while controllingexpenses,” said Bob Rivera, vice president, IT programming andoperations for Lockheed FCU in Burbank, Calif. “Combining our ATM,debit and credit card services with one processor will help toaccomplish that goal.
|Rivera added, “With the new agreement, our credit card servicescan benefit from that relationship as well. Moving our credit cardprocessing to the same processor as our other card services willimprove our ability to recognize and prevent fraud across all ourcard transactions.”
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