CINCINNATI, Sept. 1, 2011 /PRNewswire/ -- 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.
(Logo: http://photos.prnewswire.com/prnh/20110628/CL27165LOGO
)
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. To learn more 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 $98 million in assets,
Border Federal Credit Union offers four locations and 15 ATMs. To
learn more 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 $42 million in assets and 3,000 members, the
credit union is located in Santa Rosa,
California. To learn more 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."
About 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 $400 billion
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.
CONTACT:
Lynn M. Rhoads, Senior Vice
President
Communications Director
513.900.4942
lynn.rhoads@vantiv.com
SOURCE Vantiv, LLC