Navy Federal Renews TSYS Processing Agreement
Columbus, Ga., April 20, 2009 — Navy Federal Credit Union and TSYS announced today an agreement to renew their longstanding relationship to continue offering credit card processing products to members, as a major component of Navy Federal's consumer and credit card lending operation.
"Navy Federal's credit card program has been recognized in independent consumer reviews as one of the best in the country," said David Tillery, senior vice president, Consumer and Credit Card Lending for Navy Federal Credit Union. "The rich functionality and capabilities TSYS brings our business will help us continue to build our program and strengthen our cardholder relationships."
TSYS provides core processing services for Navy Federal's Visa® and MasterCard® credit card products. Services provided under the agreement include statement processing, card embossing, accounting and settlement, fraud prevention services, member service and collection operating systems, correspondence and risk mitigation. TSYS Loyalty provides tailored marketing and program design, analytics, rewards processing, redemption and fulfillment solutions that serve the unique needs of Navy Federal's members participating in nRewards®, goRewards® and Flagship credit card programs. TSYS supports more than 850,000 active credit card accounts at Navy Federal.
"Our relationship with Navy Federal is one we're extremely proud of, and we're excited to have the continued opportunity to help them grow their card business," said M. Troy Woods, president and chief operating officer for TSYS. "This agreement is a strong indicator of the confidence our clients have in the service and innovative technology TSYS delivers."
About Navy Federal Credit Union
Navy Federal Credit Union is the world's largest natural person credit union with $39 billion in assets, 3.2 million members, 175 branch offices, and 7,100 employees worldwide. The credit union serves all Department of Defense military and civilian personnel and their families. For additional information about Navy Federal, visit navyfederal.org.
TSYS (NYSE: TSS) is one of the world's largest companies for outsourced payment services, offering a broad range of issuer- and acquirer-processing technologies that support consumer-finance, credit, debit, debt management, healthcare, loyalty and prepaid services for financial institutions and retail companies in the Americas, EMEA and Asia-Pacific regions. For more information, contact email@example.com or log on to www.tsys.com. TSYS routinely posts all important information on its website.