News

LBS Financial CU opts for Co-op debit processing

September 3, 2013

Long Beach, Calif.-based LBS Financial Credit Union is combining its signature and PIN debit processing through Co-op Financial Services. The change will provide LBS Financial with a single, fraud-resistant platform that brings together infrastructures, network connections, authorization processes and settlement points, the CUSO said in a news release.

"We decided to consolidate our signature and PIN debit card transaction processing with Co-op in order to reduce expenses, improve operational efficiencies and strengthen our fraud detection and prevention strategies," said Colleen Savage, VP of electronic services at the credit union. "We are looking forward to a seamless transition to Co-op for our members, and an even better bottom line for the credit union."

LBS Financial is already a partner with Co-op Financial Services through participation in Co-op ATM. The service provides a network of 30,000 surcharge-free ATMs nationwide for the CU's 115,000 members.

The nearly $1 billion CU also uses Co-op Shared Branching, which includes 5,000 live-teller branches and 2,000 self-service locations. This program allows members of participating CUs to transact business at the branches of other credit unions while away from home. 

Read more about transaction processing.