New Partnership Improves the Integration of Payments with the Credit Union’s Core Platform
- RANCHO CUCAMONGA, California
– To satisfy growing member demand for advanced payments options, Minnesota-based United Educators Credit Union is partnering with CO-OP Financial Services for Debit and Full-Service Credit processing. The $212 million, 17,000-member credit union has made offering top-tier payments solutions a strategic priority for 2021.
“CO-OP and United Educators CU share a strong belief that high-quality card programs are essential for credit unions to remain competitive in the fast-evolving world of payments,” said Paul Dammann, President/CEO of the cooperative (www.uecu.coop
). “Built by and for credit unions, CO-OP innately understands our challenges. They’ve transferred deep knowledge of the industry into leading-edge R&D and a strategic payments product roadmap to keep credit unions at the forefront of payments innovation. We look forward to a long-lasting relationship.”
Dammann and his team expect the CO-OP partnership will result in improvements of both back-office and member-facing experiences. Seamless integration of United Educator CU’s cards portfolio with its core will increase efficiency and add new data analytics capabilities, enabling the institution to enhance the performance of its card programs. This will ultimately improve the credit union’s ability to own more of the day-to-day financial moments that lead to primary financial relationships with members.
CO-OP Debit and Full-Service Credit offerings enable credit unions to easily add the competitive, benefit-rich payments products members expect. CO-OP’s services combine analytics, fraud reduction, risk management and loyalty in highly integrated, fully-hosted and managed card processing programs.
“United Educators CU values smooth technology integration because that translates directly to exceptional member experiences,” said Matt Kardell, Chief Revenue Officer for CO-OP. “The seamless and future-proof integration of APIs across CO-OP’s ecosystem of payments and fintech solutions enables all credit unions to deliver experiences on par with the biggest banks and shiniest start-ups. Payments are the path to primary financial relationships, and our investment in technology is making it possible for credit unions to have powerful, loyalty-inducing engagement with members through payments like no other channel in banking.”
For more information on the CO-OP ecosystem for credit unions and their members, visit www.coop.org/Solutions