According to Fifth Third Processing Solutions, both credit unions will have access to portfolio management tools, which enable them to internally manage daily monetary adjustments, including fees, balance transfers, and routine cardholder account updates.
Online reporting capabilities related to settlement, collections, and delinquencies will also be easily available online, giving the credit unions the ability to evaluate card performance, identify revenue opportunities, and spot portfolio trends.
Fifth Third Processing Solutions president for financial institution services Royal Cole said they are pleased that Education First and USA One have become valued partners.
"We are confident that our portfolio management tools will assist them in helping to increase the performance of their card portfolios.
"These two credit unions recognize that to grow their card programs they need more than a processing platform, they need a partner that is invested in their success," Cole said.
