TALLAHASSEE, Fla. - Credit Union 24 has entered into a long-term contract for switch-processing services with Fifth Third Processing Solutions. According to a news release, the agreement signals the beginning of Credit Union 24's conversion process from former switch processor Fiserv EFT to the Cincinnati-based Fifth Third platform.
"This new arrangement puts Credit Union 24 in a much healthier position in today's marketplace," said Credit Union 24 board chairman Bob Fisher. "The agreement will add value to the network by allowing us more control and flexibility, wider product offerings and the ability to be more competitive in the EFT arena."
The switch-transition plan covers the next 18 months, a roadmap for detailed member-communications plan, preparations to address technical issues and day-to-day operational items, as well as provisions to cover credit union costs related to the change.
