Unified Ecosystem of Payments Technology Critical for $379 Million Credit Union
RANCHO CUCAMONGA, California – According to Credit Union of New Jersey President/CEO Andrew Jaeger, payments are a key strategic offering in the pursuit of member engagement and profitability. As such, it became essential for the 37,000-member cooperative to find a payments processor with a future-proof approach to aggressively leveraging payments as the primary path to growth. After a comprehensive search, the credit union chose CO-OP Financial Services.
“Because of the critical nature of this relationship, we took a long view of our payments partnership,” said Jaeger. “Among the reasons we selected CO-OP was the company’s strategic approach to creating seamless member and employee experiences. Through CO-OP’s technology initiatives and unified ecosystem of payment solutions, we expect to stay ahead of the technology curve, especially as it accelerates around credit and debit innovation.”
Credit Union of New Jersey (www.cunj.com) is partnering with CO-OP Financial Services (www.coop.org) for PIN, Debit and Full-Service Credit processing. In addition, CO-OP will provide CO-OP Contact Center services, ATM Terminal Driving and access to the CO-OP ATM network.
CO-OP PIN, 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. CO-OP Contact Center provides 24/7 live and interactive voice response (IVR) service in full alignment with its partner credit unions’ brand promises. The CO-OP ATM network offers nearly 30,000 surcharge-free ATMs, covering all 50 states and 10 countries.
“It’s clear Credit Union of New Jersey is dedicated to the financial empowerment of their members, and we are excited to support that commitment,” said Matt Kardell, Chief Revenue Officer for CO-OP. “Credit unions are built to ensure members stay on the path to financial wellness. CO-OP is dedicated to helping credit unions own more of the day-to-day financial moments of their members, like making purchases, paying bills and sending money to friends. In this way, we can help credit unions be in a stronger position to fulfill their purpose.”
The $379 million Credit Union of New Jersey is located just outside of Trenton. Chartered in 1943 to serve New Jersey Highway Department employees, it now serves all state employees and more than 200 select employer groups.
For more information on the CO-OP ecosystem for credit unions and their members, visit www.coop.org/Solutions.