Major Expansion of Long-Standing Partnership Designed to Help First Tech Provide Seamless, Comprehensive Payment Services in the Digital Age
RANCHO CUCAMONGA, Calif. – CO-OP Financial Services is announcing a major expansion of its long-standing partnership with First Tech Federal Credit Union of Mountain View, California, including contracting for CO-OP Full-Service Credit processing and Member Rewards by CO-OP.
“We chose CO-OP because they are the absolute best financial technology partner to help service our members for both credit and debit payment services in the digital age,” said Terry Rodrick, VP of Cards & Payments with First Tech. “With the acquisition of TMG earlier this year, CO-OP is the comprehensive payments company we need to offer best-in-class services, seamlessly, across all platforms.”
In addition to the new services, First Tech renewed its existing agreement with CO-OP for Signature and PIN Debit processing, and ATM terminal driving services. A CO-OP client since 2009, and a shareholding institution in the cooperative, First Tech is also a participant in the CO-OP ATM and CO-OP Shared Branch networks.
First Tech is the seventh largest credit union in the United States, with $11 billion in assets and 500,000 members. The credit union specializes in serving employees and families of world-renowned developers and users of technology, including HP, Microsoft and Amazon.
“Among the strategic initiatives CO-OP is pursuing is to co-create with clients an agile and digital-first experience for credit union members,” said Todd Clark, President/CEO of CO-OP. “CO-OP has a distinct advantage in that some of the most progressive, tech-forward credit unions in the movement are among our clients – and First Tech is a foremost example.
“From the C-suite to the frontlines, staff at First Tech understands the digital-first mentality,” said Clark. “The credit union was founded on the principles of uniting human dedication and technological innovation for a greater good. We couldn’t ask for a better partner for our collective journey to digital transformation.”
In September, CO-OP also announced that it is supporting First Tech as a Day 1 issuer of MasterCard’s payments services for the Garmin and Fitbit wearable devices.
CO-OP Full-Service Credit processing combines analytics, fraud detection, risk management and loyalty in a highly integrated, fully hosted and managed card processing program. Member Rewards by CO-OP helps credit unions engage their cardholders with a program that makes rewards easy to track and redeem; and credit unions can also call upon effective analytics, targeting, rewards choices, and operational simplicity.
About First Tech Federal Credit Union
First Technology Federal Credit Union (First Tech) is an $11 billion institution headquartered in Mountain View, California. It is the nation’s premier credit union serving the world’s leading technology-oriented companies and their employees, including HP Inc., Hewlett Packard Enterprise, Microsoft, Agilent, Intel, Cisco, Amazon, Nike, CH2M, Intuit, Google, and more. First Tech is recognized as the industry catalyst for delivering effortless banking experiences to over 500,000 members through its 41 branch locations, more than 5,600 CO-OP Shared Branch locations, 30,000 CO-OP Network ATMs, online platforms, and 286,000 ATMs nationwide. First Tech offers a full range of financial services, including traditional banking, online banking, mortgages, financial planning, various consumer loans, and insurance services. For more information, visit www.firsttechfed.com.
About CO-OP Financial Services
CO-OP Financial Services is a payments and financial technology company whose mission is ensuring the success of the credit union movement by serving 3,500 credit unions and 60 million members. CO-OP payments solutions, engagement services and strategic counsel help credit unions optimize member experiences to consistently provide seamless, personalized multi-channel offerings, while delivering secure, sophisticated fraud mitigation service. For more information, visit www.co-opfs.org.
