CINCINNATI and WASHINGTON, May 12, 2011 /PRNewswire/ -- Fifth Third Processing Solutions is pleased to announce that NAFCU Services Corporation, a wholly owned subsidiary of the National Association of Federal Credit Unions, has extended an agreement with Fifth Third Processing Solutions as its exclusive preferred partner for electronic funds transfer (EFT) services including ATM and debit card processing, terminal driving, network gateway transaction processing and credit card processing and servicing.
"Since 2007 Fifth Third Processing Solutions has provided a multitude of solutions to enable credit unions to establish top-notch, quality debit, credit and ATM programs, said David Frankil, president of NAFCU Services. "We've worked closely with them on numerous initiatives designed to educate credit unions on their technology, security and marketing needs. All of which is proof-positive of Fifth Third Processing Solutions' lasting commitment to the credit union market and their innovative, flexible solutions to generate a competitive advantage for credit unions."
"Fifth Third Processing Solutions understands the importance of building loyal relationships with credit unions, and has a true understanding of the credit union business," commented Michael Lussier, President and CEO of Webster First Federal Credit Union and NAFCU Chairman. "For years, they have partnered with us and provided solutions that meet the needs of our members while creating opportunities for efficiencies and revenue growth for our credit union."
"We highly value our relationship with NAFCU Services Corporation," said Royal Cole, President, Financial Institution Services, Fifth Third Processing Solutions. "Our status as a preferred partner allows us to work with the strategic leaders in the credit union industry and deliver solutions that drive greater efficiencies for our credit union partners and their members."
About Fifth Third Processing Solutions
Fifth Third Processing Solutions, LLC delivers innovative payment transaction processing and acceptance solutions to create and support complex payment strategies for merchants, businesses, and financial institutions around the world. A pioneer in card payment acceptance in the early 1970s, Fifth Third Processing Solutions is headquartered in Cincinnati, Ohio, and is a joint venture with Advent International and Fifth Third Bank, a subsidiary of Fifth Third Bancorp (FITB).
As a premier full service payment solutions provider, the Company provides servicing solutions and product engineering for financial institutions’ and retailers’ credit card, debit card, merchant and private label programs, processing over 11.4 billion ATM and point of sale transactions and over $378 billion in debit and credit card sales volume annually. Its subsidiary, NPC, is the largest provider of payment processing services exclusively focused on the small-to-medium merchant processing market. The Company supports over 406,000 merchant and financial institution locations and 12,000 ATMs in 46 states and 8 countries. According to the Nilson Report (March 2011), the Company is the largest PIN Debit U.S. acquirer and third largest U.S. merchant transaction acquirer ranked by general purpose transaction volume. Learn more at www.FTPSLLC.com.
About NAFCU Services Corporation
NAFCU Services Corporation is a wholly owned subsidiary of the National Association of Federal Credit Unions (NAFCU). Since 1975, NAFCU Services has partnered with the industry's leading solutions providers to offer value-added products and services at a discount to credit unions. Currently, it offers 30 Preferred Partner programs to the credit union community. For more information about NAFCU Services Corporation, please visit www.nafcu.org/nafcuservices.
SOURCE Fifth Third Processing Solutions