With plans to soon add a host of new member services, Red River Credit Union is now partnering with CO-OP Financial Services for debit and full-service credit processing, and participating in CO-OP ATM network.
“We feel that CO-OP is on the forefront of innovation and technology, which is in line with what Red River is trying to achieve,” said Brad Bailey, President/CEO of Red River CU. “It is going to get tougher to compete for financial services, especially for payments, and we are confident CO-OP is positioning itself to help us meet and beat the competition.”
Based in Texarkana, Texas, Red River CU (www.rrfcu.com) recently surpassed the $1 billion assets mark, serving 111,000 members primarily in Northeast Texas, Southwest Arkansas and Northwest Louisiana. The community-based credit union has 28 branches and 370 employees to serve its members.
“CO-OP’s back-office processing was a main reason we chose them, since having debit and credit on the same platform was important to us,” said Bailey. “And, the fact that CO-OP is credit union-owned is also very important to us. We feel we are partnering with another non-profit that is focused on what’s important to Red River’s success, which is in line with the credit union movement’s collaborative philosophy.
“Also key to our decision is that debit and full-service credit processing, along with CO-OP ATM, lays the groundwork for introductions we hope to make later this year of card controls and alerts, a rewards program, contactless cards and Zelle P2P payments,” said Bailey.
CO-OP Debit and Full-Service Credit enable credit unions to easily add the competitive, benefit-rich payments products members expect. CO-OP’s services combine analytics, fraud reduction, risk management and loyalty in highly integrated, fully hosted and managed card processing programs. CO-OP ATM is the nation’s largest credit union-owned ATM network, with 30,000 machines available across the country, allowing members of participating institutions to access their accounts without incurring a surcharge.
“We are very proud to be playing a role in helping Red River CU provide more and better services to their members,” said Matt Kardell, Chief Revenue Officer for CO-OP. “We believe payment transactions are the way to member engagement and credit union growth. CO-OP has built an ecosystem of payments and fintech solutions that speed the path towards Primary Financial Relationship status with members.”
For more information on the CO-OP ecosystem for credit unions and their members, visit www.co-opfs.org/Solutions.
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. 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.
