CINCINNATI - Midwest Payment Systems, the processing subsidiary of Fifth Third Bancorp, signed a contract with USAir Federal Credit Union in Pennsylvania.
Ralph W. Canterbury, vice president of operations for the $400 million- asset credit union, said it was chosen "because of its ability to directly link us to automated teller machine networks across the United States."
He added that Midwest Payment "also gives us single-source settlement from all networks with one convenient transmission." He estimated that switching to Midwest would save the credit union over $100,000 a year.
Midwest processes more than 1.46 billion ATM and point of sale transactions a year for over 1,000 financial institutions and 11,000 merchants nationwide and overseas.