Vantiv, LLC (formerly Fifth Third Processing Solutions, LLC) is pleased to announce that three credit unions have recently signed contracts with the company for comprehensive credit card processing services. Two of the credit unions, Paducah Federal Credit Union and Border Federal Credit Union, are existing processing clients and will be expanding their services with Vantiv. The Paducah Federal Credit Union, headquartered in Paducah, Kentucky, has been serving the western Kentucky area since 1939. With more that $190 million in assets and five locations, Paducah Federal Credit Union delivers the highest quality of services possible to its more than 17,000 members. For more information, visit www.paducahfcu.org.
"We are looking forward to the opportunities of this expanded partnership," said Dale Adams, vice president, Paducah Federal Credit Union. "The Vantiv debit card program has worked extremely well for us, and because of the success we have already enjoyed, it made sense to partner with Vantiv for our credit card program as well."
Border Federal Credit Union, located in Del Rio, Texas, was established in 1954. Today the credit union offers a wide variety of financial services including a full service website that allows for a true "Banking from Home" functionality to their membership of over 21,000. With more than $98M in assets, Border Federal Credit Union offers four locations and 15 ATMs. For more information, visit www.borderfcu.com.
"By improving our credit card product, we will be able to offer additional benefits to our members," said Ruben Cisneros, COO of Border Federal Credit Union. "With Vantiv, we will now be able to offer our members a competitive card at a lower rate, which will give our members more reason to rely on us for their financial services." Cisneros added, "Vantiv gives us everything we were looking for in a card processor and more. We are looking forward to leveraging their expertise in order to grow our card portfolio."
Sonoma County Grange Credit Union was established in 1948 and is a family oriented financial cooperative which continues to provide affordable financial services to individuals working primarily in the field of agriculture. This includes farmers, ranchers, those in business of processing, marketing, transporting or producing agriculture commodities or selling equipment or supplies to agriculture business. Today, with $42M in assets and 3,000 members, the credit union is located in Santa Rosa, California. For more information, visit www.grangecu.org.
"Vantiv has taken the complexity out of starting a credit card program, and offers the capabilities and support we need to manage it," said Pam McNatt, CEO, Sonoma County Grange Credit Union. "Our new credit card will give members one more reason to do business with us."
Vantiv's product suite also includes ATM terminal driving and monitoring, ATM and debit card transaction authorization and processing, credit issuing and processing services, national and regional gateway services, comprehensive ancillary services including fraud detection, card production, Rewards! product, and other consultative services.
"We are excited to be chosen by these credit unions to deliver innovative credit card processing solutions to help them gain entry into new markets for member growth and retention," said Royal Cole, president, Financial Institution Services, at Vantiv. "A robust credit card program can help further distinguish these institutions from their competitors while maximizing portfolio performance."
Vantiv, LLC is one of the largest providers of payment strategies and technology solutions for financial institutions and businesses worldwide. Formed in 1971 and most recently known as Fifth Third Processing Solutions, LLC, the Company builds strategic partnerships with its customers, helping them become more efficient, more secure and more successful. Headquartered in Cincinnati, Ohio, Vantiv, LLC is a joint venture between Advent International and Fifth Third Bank, a subsidiary of Fifth Third Bancorp (FITB).
Vantiv, LLC supports more than 400,000 merchant and financial institution locations and 12,000 ATMs in 46 states and 8 countries. The company processes more than 11.4 billion ATM and POS transactions and nearly $400B in debit and credit sales volume annually. Its subsidiary, NPC, is one of the largest providers of payment processing services exclusively focused on the small-to-medium merchant processing market. 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. For more information, visit www.vantiv.com.
SOURCE: Vantiv, LLC