News

McGraw-Hill FCU, Co-op expand card processing relationship

The ATM and PIN debit processing agreement between the FCU and the California-based CUSO will broaden to include credit and signature debit services.

August 21, 2014

East Windsor, New Jersey-based McGraw-Hill Federal Credit Union hopes to realize greater operational efficiencies and lower processing costs through an expanded relationship with Co-op Financial Services, according to a news release.

The FCU will add credit card processing to its existing ATM and shared branching agreements with Co-op. The deal also covers signature debit processing, the release said.

“We partner with Co-op on a variety of payment services, so this extension of our relationship provides an opportunity to gain additional backoffice and economic efficiencies,” said Cathyann Frank, vice president of member experience branch operations, at McGraw-Hill FCU.

McGraw-Hill FCU serves more than 20,000 members and holds $310 million in assets. The FCU counts more than 3,800 credit card accounts among its membership; in June, members used their cards for about 18,000 transactions totaling about $1.6 million in purchases.