Three Sunbelt Federal Credit Unions Sign With Vantiv
Payments Leader Energizes Programs
Vantiv, one of the nation's largest payment processors, is pleased to announce that it has signed contracts with three Texas and Florida-based credit unions for single-sourced comprehensive electronic processing servicing including debit card services, card production, gateway services, debit portfolio management, fraud mitigation, enhanced chargeback processing and ATM driving.
The Rocket Federal Credit Union was chartered in 1954 in McGregor, Texas as a part time operation in the garage of an employee of Phillips 66 Petroleum Company. Today, with assets totaling more than $16M, Rocket Federal Credit Union offers two locations with nearly 2,500 members. Known for their motto, "Once a Member, Always a Member," Rocket Federal Credit Union membership is open to those who live, work, or are related to someone who lives or works within a specified geographic area. For more information, visit www.rocketfcu.com.
Shell Federal Credit Union, headquartered in Deer Park, Texas was chartered in 1937. A group of 40 employees of Shell Oil Refinery agreed to become the first members of the credit union and paid the $.25 fee to join. Shell FCU continues to grow to meet the financial needs of its increasing membership. The credit union now has more than $450M in assets, with six branch locations, and 10 ATMs. The Credit Union currently serves over 49,000 members who live, work, worship or attend school in Harris County, Texas. For more information, visit www.shellfcu.org.
SunState Federal Credit Union originated as Florida USDA Federal Credit Union in 1957 serving only the USDA employees in the state of Florida. Since that time the credit union has undergone name changes as their field of membership has been transformed. Today SunState is no longer an occupational-based federal charter, but a community-based federal charter, serving anyone who lives, works, worships, or attends school in their defined geographic area. SunState Federal Credit Union has grown to almost $300M in assets, 10 ATMs, and over 26,000 members. For more information, visit www.sunstatefcu.org.
"As a client of Vantiv, we have partnered together and completely re-energized our card servicing programs. We are thrilled to have one provider offering one solution," said Jim Woodward, President and CEO, SunState Federal Credit Union. "The Vantiv team is committed to anticipating our needs and creating solutions that ensure our complete satisfaction. We appreciate that the success of their clients is a main focus of the company."
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 believe that our clients deserve more than a product- they deserve an experience," said Royal Cole, President, Financial Institution Services at Vantiv. "We are excited to give these credit unions the Vantiv treatment that will help them drive the superior portfolio performance they desire. Their members already know and respect their brands, and we will now help them build on those foundations to grow their card programs into more than they have ever had before. With our innovative programs and our commitment to success these companies can expect more from Vantiv."
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