Press
LBS Financial Credit Union Combines Signature and Pin Debit Processing Through CO-OP Financial Services
Added Fraud Protection, Reduced Expenses and Greater Efficiency All Factor in Decision
RANCHO CUCAMONGA, CA (September 3, 2013) — Seeking to serve its debit card-carrying members with added fraud protection and other program enhancements, LBS Financial Credit Union is combining its Signature and PIN debit processing through CO-OP Financial Services.
CO-OP Debit Transaction Processing offers a single, reliable, fraud-resistant platform for signature and PIN transactions. CO-OP’s debit program helps credit unions defend against fraud by bringing together infrastructures, network connections, authorization processes and settlement points.
“CO-OP Financial Services has been a long-time partner of LBS Financial Credit Union,” said Colleen Savage, Vice President, Electronic Services, for the credit union. “We decided to consolidate our Signature and PIN debit card transaction processing with CO-OP in order to reduce expenses, improve operational efficiencies and strengthen our fraud detection and prevention strategies. We are looking forward to a seamless transition to CO-OP for our members, and an even better bottom line for the credit union.”
Based in Long Beach, Calif., LBS Financial Credit Union (www. lbsfcu.org) has been serving members for nearly 80 years. With $1.1 billion in total assets, LBS Financial is the 180th largest credit union in the country, and has 115,000 members.
The credit union is also a partner with CO-OP Financial Services by participating in CO-OP ATM, a network of 30,000 surcharge-free ATMs nationwide for credit union members; and CO-OP Shared Branching, with 5,000 “live-teller” branches, and 2,000 self-service locations, enabling credit union members to transact business at the branches of other credit unions while away from home.
For more information, visit www.co-opfs.org.
About CO-OP Financial Services
Based in Rancho Cucamonga, Calif., and founded in 1981, CO-OP Financial Services is the nation’s largest credit union service organization in terms of number of credit unions, assets and members. The company helps credit unions thrive by providing products and services that make it more convenient for members to do business with them. With a motto of “Be There. Be More,” CO-OP’s products fall into three business lines, including “Locations,” (ATM, shared branching and call center services); “Card Payments” (debit and credit processing) and “Mobile/Virtual” (mobile, online, check imaging, bill pay services). To learn more visit www.co-opfs.org.