Five County Credit Union partners with Co-Op to improve member experience – Mobile Payments Today

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Five County Credit Union, a credit union based in Bath, Maine, is partnering with Co-Op Financial Services, a payments and fintech company, to improve the customer experience and back-office efficiencies. The credit union will combine Co-Op’s credit and debit transaction processing products with loyalty and rewards program solutions, according to a press release.

Co-Op will provide its CardNav solution, which offers card controls and mobile alerts, which customers can use to control when their cards can be used for travel as well as get alerts on potential fraud. Five County CU will also enable its ATMs to access the Co-Op ATM networks.

“We are moving our debit and credit card processing to CO-OP to remove friction points for our members and staff,” Julie Marquis, president and CEO of Five County CU, said in the release. “The efficiencies created by having all card programs under one umbrella is the ultimate goal — only one set of fraud rules, one set of parameters and only one mobile application for members and staff, along with rewards provided for debit and credit transactions. Combining this with Co-Op Shared Branch and Co-Op ATM networks will mean additional ease for members who will be traveling and decreases in false-positive declined transactions.”

Five County CU has 15 branches and 28,000 members.

Topics: Loyalty Programs, Mobile Banking, Security

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