News

Fiserv extends EFT agreements with 2 FIs

August 2, 2004

BROOKFIELD, Wis. - Fiserv, Inc.'s (Nasdaq: FISV)  EFT/CNS unit has extended its EFT processing agreements with two financial institutions in the Northeast.

A three-year contract extension with Northern Massachusetts Telephone Workers' Credit Union (NMTWCU) of Lowell, Mass., builds on a relationship between Fiserv and NMTWCU that began in 1983, according to a news release. Under the terms of the agreement, Fiserv will continue to provide the credit union with complete ATM and debit card processing services, network gateway access and online host authorizations. 

NMTWCU, with $410 million in assets and three branches north of Boston, currently has 24,000 members and 17,000 cardholders.

In addition to extending the agreement for existing services, Fiserv also is assuming the task of processing chargebacks for NMTWCU.

New Hampshire's Northeast Credit Union also has extended its EFT processing agreement for an additional five years. The two organizations began their original EFT relationship in 1983.  Under the terms of the agreement, Fiserv will continue to provide Northeast with ATM driving support, network gateway access and on-line host authorizations. 

Northeast Credit Union has $400 million in assets and 41,600 members. The credit union operates six branches in New Hampshire and one in neighboring Maine, with a total of 17 ATMs.

Fiserv EFT/CNS serves 3,000 clients across the United States, representing financial institutions of all sizes. EFT/CNS operates more than 16,500 ATMs, and owns the ACCEL/Exchange Network. EFT/CNS currently processes approximately 350 million ATM and debit transactions per month.