MERIDIAN, Calif. –CapEd Credit Union said it is expanding its partnership with Co-op Solutions to include a range of services.
The $1.4-billion CapEd has renewed its participation in the nationwide Co-op ATM network as well as the Co-op Bill Pay service for paying bills on-line and via mobile device. To these services, CapEd has added Debit and Full-Service Credit transaction processing, ATM Terminal Driving, the Co-op Contact Center and the new Co-op Pay debit point-of-sale network, the company reported.
“We had been looking for a new card processor, and we did a very thorough industry search,” said Todd Erickson, president/CEO of CapEd. “We wanted to enhance our ability to grow and serve our members with the modern digital payment services a card processor like Co-op can offer. We did have a partnership with Co-op already. Ultimately, we chose Co-op as the best fit for CapEd, based on what they can offer, and their very strategic and consultative approach to helping us implement the different card services we needed.”
‘Better Connectivity’
Added Chief Deposit Officer Trudi Mayes, “We definitely needed a more operationally efficient model to work with – better systems and better connectivity. From the cardholder experience side, Co-op has all the things we are looking to offer our members, including card controls and alerts, digital issuance and fraud mitigation tools. Co-op is also very consultative, which is critical because close partnering is needed in managing fraud. There is a balance between not interrupting the cardholder’s experience, while also introducing the protections needed to stop the fraudsters. Co-op has a great fraud system to help us.”
CapEd Credit Union has approximately 100,000 members and has a legacy of supporting teachers and education.
Seeking to be Top of Wallet
“We are always looking at ways to make our cards top of wallet,” said Mayes. “Co-op has some reporting systems that can help us identify great marketing opportunities. We're really growing our credit card portfolio on the consumer side, but more so even on our business/commercial side. So we are looking at tools that will best fit our growing business portfolio, and making more tools available to our business members to encourage them to use our credit cards.”
Added Erickson, “Improving the member experience was one of the biggest drivers to making a card processor move. Co-op is very focused on member experience. We look forward to a long-term partnership that's not just about specific transactions but a broader and holistic strategic partnership within the payments space and card processing.”
The Products
According to Co-op:
- Co-op Full-Service Credit is a fully-hosted and managed payments program that is customized to credit union needs.
- Co-op Debit includes the most comprehensive array of member loyalty, security and efficiency benefits available to credit unions.
- Co-op ATM Terminal Driving provides fleet management to help reduce costs, improve operational efficiency and engage users.
- Co-op Pay Network can serve as an unaffiliated debit point-of-sale network while maximizing non-interest income.
- Co-op Contact Center helps credit unions meet member expectations for 24/7, always-on service with personalized agent and self-service solutions.
Seeking to Exceed Expectations
“We are proud to be partnering with CapEd and working to exceed their expectations in terms of both operational efficiencies and member experience,” said Matt Kardell, chief revenue officer for Co-op. “We know that our mutual commitment to the credit union philosophy and values played an additional strong role in their selection process, and we look forward to continuing to grow together.”
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