News

BOSTON - Two more CUs have sold their card portfolios to Elan Financial Services, a subsidiary of U.S. Bank, according to The Kessler Group, the Boston based broker that facilitated the sale. The $112 million St. Jean's Credit Union based in Lynn, Massachusetts and the $65 million Gulf Coast Community...

PURCHASE, N.Y. - In a move which could have an impact on the coming U.S. debate on card interchange, one agency of the British government has reversed another agency and ruled that MasterCard's method of setting credit card interchange does not violate the competition laws of the United Kingdom or...

SAN FRANCISCO - After months of rumors and persistent silence from the No. 1 card brand about a card breach rooted in ATMs, which was costing CUs and CUNA Mutual millions of dollars, Visa USA has finally released some details about the problem.

DENVER - The $6 billion The Golden 1 Credit Union, headquartered in Sacramento, California, has decided to stay with the STAR ATM and EFT network, First Data Inc, STAR's parent company, has announced. The Golden 1 has more than 280,000 U.S. cardholders and 271 ATMs, the processor said.

LAS VEGAS - From the hush-hush press briefing to animated slides of CEO Sarah Canepa Bang disco dancing "for joy," senior managers at Financial Service Centers Cooperative could hardly contain their excitement at "the very big announcement" of its long-planned shared branching pact with 7-Eleven.

FREMONT, Calif. - Tranax, another ATM manufacturer which has made its name primarily serving retail outlets wants to make an inroad into the CU space.