November 2, 2009
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News: Fifth Third Partners With Credit Unions
If you haven't heard the news, credit unions have been hailed as offering better credit card deals than most of the nation's largest lenders. As the good word continues to spread, we can expect to see more Americans checking out their local or employee credit unions in search of cards that assess lower interest rates and fewer fees and penalties. With new credit card reform laws soon to become a reality, banks are searching alternative methods to produce lost revenue from credit card defaults. Fifth Third Processing Solutions a division of Fifth Third bank has secured contracts with four credit unions. Fifth Third will be providing electronic funds transfer and payment transaction service including gateway access, automated teller machines (ATM) card processing, card production services, and ATM terminal driving.
Fifth Third Processing Solutions will be managing the ATM and credit card processing for the following four credit unions: A+ Credit Union based out of Idaho Falls, Idaho who services the faculty, staff, students, alumni, and their immediate families of all of Bonneville County educational institutions; the Baptist Employees Credit Union located in Cary, North Carolina; the Dowell Federal Credit Union of Tulsa, Oklahoma who services the employees and their immediate families of several oil industry organizations; and, the Gateway Community Federal Credit Union based out of Missoula, Montana and services all those who live, work, and worship in the Missoula area. Credit card customers will want to check out these credit unions to see if they qualify to become a member.
A pioneer in the debit and credit card processing industry, Fifth Third Processing Solutions, LLC delivers innovative payment transaction and offers a full range of payment strategies for merchants, businesses, and financial institutions around the globe. They maintain over 173,000 client locations and 11,000 ATMs throughout the U.S. and 11 countries. Fifth Third Processing Solutions is headquartered in Cincinnati, Ohio.