CU24, Fifth Third In Discussions

Register now

Credit Union 24 is in discussions with Fifth Third Processing Solutions to establish a long-term agreement for switch-processing services.

Fifth Third Processing Solutions has a long-standing relationship with Credit Union 24 and a close affiliation with more than 280 credit union clients, including those in the Armed Forces Financial Network (AFFN), the Falcon Cooperative and the Vermont Credit Union League, for example.

"This decision is a result of the continuous review of our strategic business direction," said Credit Union 24 Board Chairman Bob Fisher. "We're always looking to improve our products and processes, and feel that this transition is in the best interests of our member owners. This reaffirms our commitment to provide credit unions with the best combination of customer service, products and pricing in the market today."

Credit Union 24's switch-transition plan covers the next 18 months, and includes strategies intended to maintain the high level of customer satisfaction that participants currently enjoy, the firm said.

Credit Union 24 is a member-owned, full-service ATM and POS network with 23 processor links, hundreds of thousands of POS terminals and more than 90,000 ATM locations across the country. Fifth Third Processing Solutions, Cincinnati, processes more than 12 billion ATM and POS transactions per year for more than 1,320 financial institutions and more than 140,000 retail locations worldwide.

For reprint and licensing requests for this article, click here.