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Article: CUNA in alliance to create national EFT authorization network for credit unions. (Credit Union National Association, electronic funds transfer) (Brief Article) (Brief Article)
- Article from:
- American Banker
- Article date:
- December 28, 1994
- Author:
CopyrightCOPYRIGHT 1994 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Credit Union National Association Inc. has created a national electronic funds transfer switch for member credit unions.
CUNA Service Group's card services division formed an alliance with Applied Communications Inc. of Omaha to operate the first national authorization center exclusively for credit unions.
The switching system will be available to individual credit unions or state credit union leagues. It can act as a one-stop transaction processing service, providing gateways and linkages to data processing companies and payment networks.
"The benefit to credit unions is that we will be able to provide them access to all EFT services without their having to deal ...