JACKSONVILLE, Fla. – Fidelity National information Services, Inc. (NYSE: FIS), which handles card processing for more than 5,000 credit unions, has entered into a partnership with CO-OP Financial Services that allows FIS to market and promote access to CO-OP Network as FIS’ primary source of access to surcharge-free ATMs.
With 100 million-plus monthly transactions and 24 million cardholders, CO-OP Network, operated by CO-OP Financial Services, is the largest credit union-owned electronic fund transfer (EFT) network in the U.S. CO-OP provides nearly 2,000 credit union members with volume discounts on products and services that include ATM network access, ATM processing, debit/card services and shared branching.
“We are pleased to be working with the largest credit union EFT network,” said Tony Ficarra, executive vice president of FIS’ e-Business Services. “This partnership will link more than half of all U.S. credit unions allowing participating credit union members to use their cards surcharge free.”
By signing a cooperative arrangement, FIS credit union clients now have the option to access CO-OP’s national and international network of more than 25,000 surcharge-free ATMs.
According to Stan Hollen, chief executive officer of CO-OP Financial Services, “We were seeking a solution that would simplify and satisfy the demand to join our network. Our new partnership with FIS will provide a faster acquisition rate as well as increase our network membership, volume and revenue.”
About CO-OP Financial Services
Established in 1981 and located in Ontario, Calif., CO-OP Financial Services (formerly CO-OP Network) is wholly owned by its credit union shareholders and provides volume discounts on products and services that include ATM network access, ATM processing, debit/card services and shared branching. With nearly 2,000 credit union members, more than 25,000 surcharge-free ATM’s (including 6,000 deposit-taking), 100 million-plus monthly transactions and 24 million cardholders. CO-OP Financial Services is the number one credit union EFT network and processor in the U.S. financial services industry. CO-OP Financial Service’s membership has access to 800,000 ATM’s worldwide through links to NYCE®, STAR®, Cirrus®, Pulse® and Plus®.
About Fidelity National Information Services
Fidelity National Information Services, Inc. (NYSE:FIS) is a leading provider of core processing for financial institutions; card issuer and transaction processing services; mortgage loan processing and mortgage-related information products; and outsourcing services to financial institutions, retailers, mortgage lenders and real estate professionals. FIS has processing and technology relationships with 35 of the top 50 global banks, including nine of the top ten. Nearly 50 percent of all U.S. residential mortgages are processed using FIS software. Headquartered in Jacksonville, Florida, FIS maintains a strong global presence, serving over 7,800 financial institutions in more than 60 countries worldwide. For more information on Fidelity National Information Services, please visit www.fidelityinfoservices.com.
FIS is a majority-owned Subsidiary of Fidelity National Financial, Inc. (NYSE:FNF), number 248 on the Fortune 500 and a provider of outsourced products and services to a variety of industries. More information about FNF can be found at www.fnf.com.
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Form 10-K and other filings with the Securities and Exchange Commission. Information,” “Risk Factors” and other sections of the Company’s Form 10-K and other filings with the Securities and Exchange Commission.