NAFCU Services adds Velocity Solutions’ Overdraft Management Solutions to their Preferred Partner profile
ARLINGTON, VA (April 7, 2016) — NAFCU Services Corporation has added Velocity Solutions’ Overdraft Management Solutions to their Preferred Partner profile, driving awareness of the products to NAFCU member and non-member credit unions across the country. Velocity offers two distinct overdraft management solutions that provide credit unions the ability to manage overdraft services as a revenue-driving line of business while staying compliant and providing a better experience for their members.
The first, the Intelligent Limit System® solution, provides credit unions with automated tools and technology to manage overdraft services while delivering dynamic limits, dynamic messaging and a comprehensive reporting package.
The second, the ODM Guardian™ solution, is one of the industry’s only overdraft management systems that detects and mitigates risk and is tailored to the needs, resources and budgets of credit unions having 25,000 or fewer checking accounts.
Velocity Solutions also offers the My Rewards™ Premium Card Program through their NAFCU partnership, a fee-based premium debit card program that generates a new, incremental source of revenue for credit unions. Last year, NAFCU Services selected Velocity Solutions as their exclusive, Preferred Partner for account holder premium card reward programs. This distinction was earned after passing a rigorous screening process conducted by three panels of leading credit union CEOs and board members, and demonstrating a superior level of service and product offerings.
“Velocity is a trusted partner and valuable friend to the credit union community,” said Randy Salser, President of NAFCU Services. “We couldn’t be happier to offer a broader portfolio of Overdraft Management Solutions to our members.”
“Velocity’s overdraft management solutions are a logical addition to our NAFCU Partnership,” said Mike Triggiano, Executive Vice President of Velocity Solutions. “We believe our solutions are unique in that they serve both the credit union and the members. Our products and software allow credit unions to better manage their member accounts to drive profitability, provide better service, and ensure compliance both now and in the future.”
About NAFCU Services
As part of the National Association of Federally-Insured Credit Unions, NAFCU Services provides funding, educational content, and a portfolio of trusted and vetted Preferred Partners who serve credit unions across the country. Our team of partners deliver groundbreaking ideas and next-gen solutions that enable credit unions to compete, change the status quo, and grow their institutions.
For more information, visit our website and follow us on Twitter and LinkedIn.
About Velocity Solutions
Founded in 1995, Velocity Solutions is the leading provider of revenue enhancement solutions to regional and community banks and credit unions. An authority in our space, Velocity Solutions manages nearly fifteen million transactional accounts, giving us unparalleled insight and expertise into consumer deposit account activity and transactional trends. Our innovative technology ensures seamless implementation and the highest levels of data security. Our unique approach is designed to:
- Drive new account openings with an automated referral strategy
- Increase checking account activity among existing account holders
- Generate non-interest fee income by offering additional services and benefits to debit card users
- Increase account holder retention
- Address regulatory scrutiny by proactively managing overdraft services
In addition to retail banking services, Velocity Solutions provides automated tools and technology to help our clients achieve consistent commercial loan profitability, while offering borrowers sensible and competitive rates.
