PULSE and Motorola Employees Credit Union Sign Long-Term Agreement
PULSE to Provide PIN Debit, ATM Network Services
HOUSTON, August 30, 2012 — PULSE, one of the nation’s leading debit/ATM networks, has extended and expanded its long-term relationship with Motorola Employees Credit Union (MECU), as MECU’s network provider for PIN debit. The agreement provides MECU’s 39,000 members with access to point-of-sale (POS) terminals at retail locations across the U.S. through PULSE PAY®, as well as PULSE’s nationwide network of more than 380,000 ATMs.
MECU, with 10 branch locations in Illinois, Florida, Georgia, Massachusetts and Texas, has been a PULSE participant since 2007. MECU chose to expand its relationship with PULSE following a comprehensive review, facilitated by the Illinois Credit Union League Service Corporation, that included a detailed analysis of MECU’s debit program transaction history. The process confirmed that MECU achieves improved debit economics when its PIN debit transactions are routed through PULSE.
“Debit plays an increasingly important role in how consumers spend and manage their money. This agreement with PULSE gives our members convenient and secure access to their checking accounts at merchant locations and ATMs nationwide,” said Michael Murphy, MECU Executive Vice President and Chief Operations Officer. “We’re confident in PULSE’s ability to provide reliable electronic payment services to our members and, at the same time, help increase our bottom line. Both are critical for our credit union.”
The agreement also includes the PULSE® Debit Dashboard, a web-based tool that provides MECU access to its data to analyze the performance of its debit program, and PULSE’s fraud detection service, DebitProtect®, which helps MECU and other financial institutions combat debit card fraud.
“PULSE is pleased that MECU has chosen to extend and further develop its relationship with our network under a new, long-term agreement,” said Leah Henderson, PULSE Executive Vice President, Sales and Account Management. “For more than 30 years, we’ve delivered innovative debit products and services, and we continue to bring value to our financial institutions’ debit card programs. That’s evidenced by our success in re-signing existing participants like MECU, and in winning new ones.”
PULSE, a Discover Financial Services (NYSE: DFS) company, is a leading debit/ATM network, serving more than 6,300 financial institutions across the United States. This includes 4,300 issuers with which PULSE has direct relationships and more than 2,000 additional issuers through agreements PULSE has with other debit networks. PULSE links cardholders with ATMs and POS terminals at retail locations nationwide. Through its global ATM network, PULSE provides worldwide cash access for Diners Club and Discover cardholders through more than 850,000 ATM locations in more than 100 countries. The company also is a source of electronic payments research and is committed to providing its participants with education on emerging products, services and trends in the payments industry. For more information, visit www.pulsenetwork.com or follow PULSE on Twitter @PULSENetwork.
About ICUL Service Corporation
A subsidiary of the Illinois Credit Union League (ICUL), the ICUL Service Corporation operates as a credit union service organization offering a wide array of fee-based products and services and is dedicated to helping credit unions compete. Its services include credit, debit, pre-paid debit, and ATM cards; strategic planning and collections. It serves more than 2,400 credit unions in 49 states including Illinois, as well as the District of Columbia. More information can be found at: www.iculsc.com. ICUL is the primary trade association for credit unions in Illinois, which provides members with information, legislation and education. Membership is open to any credit union operating in accordance with the Illinois Credit Union Act or the Federal Credit Union Act. There are 365 credit unions in Illinois with more than 2.84 million members.