ATLANTA, May 18, 2000
Equifax today announced a multi-year contract with Service Centers
Corporation (SCC) to provide debit card processing services to
its more than 110 credit unions. Equifax, the nation's largest
credit union card processor, will process nearly 120,000 cardholder
accounts with more than five million MasterMoney debit card transactions
annually for Michigan's only credit union-owned shared branch
network.
Vince Pavese, Equifax Card Solutions senior vice president and
general manager, North America, said, "Equifax and SCC share
a common mission: to help credit unions succeed by providing superior
products and outstanding service. Serving credit unions for more
than two decades has given us the experience and knowledge to
meet the unique needs of this growing market, and we are pleased
to have been selected as SCC's partner."
Leigh Marciniak, SCC's senior vice president and chief network
officer, said, "We were looking for a high quality, cost-competitive
solution and a business partner able to provide a strong customer
service focus. Equifax fit the bill. Our member credit unions
currently enjoy a 35 percent annual growth rate for this popular
service and with Equifax as our processing partner we expect even
more expansion in the debit card field." Ms. Marciniak added,
"Equifax is committed to a June 30 implementation date without
the usual card reissue requirement, a big advantage to our participating
credit unions."
Southfield, Michigan-based Service Centers Corporation is a not-for-profit
credit union service organization (CUSO) owned and governed by
over 240 credit unions with collective assets of over $17 billion
and more than three-and-a-half million members. SCC (www.scc-sc24.org)
has 20 shared branches in Michigan and operates three shared branches
in Virginia and Maryland. SCC is an equal partner in the national
shared branching network organization, Credit Union Service Center
Network, Inc. (CUSCNI), and Member Access, the national ATM network
for credit unions.
Equifax Card Solutions is the nation's largest card processor
for credit unions and independent banks, providing card processing
services and marketing solutions for more than 5,000 clients in
the United States. Equifax also provides high quality card processing
services to clients internationally in the United Kingdom, Brazil,
Chile, and India. Equifax card processing software is used by
financial institutions in 30 countries around the world.
Equifax , a worldwide leader in shaping global commerce, brings
buyers and sellers together through its information management,
transaction processing, direct marketing, and customer relationship
management businesses. Atlanta-based Equifax (NYSE: EFX) serves
the financial services, retail, credit card, telecommunications/utilities,
transportation, information technology and healthcare industries
and government. Equifax adds knowledge, expertise, convenience
and security to provide value-added solutions and processes for
its customers wherever they do business, including the Internet
and other networks. Equifax employs about 15,000 associates in
16 countries with sales in almost 50 and has $1.8 billion in revenue.
Statements in this press release that relate to Equifax's future
plans, objectives, expectations, performance, events and the like
are "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995 and the
Securities Exchange Act of 1934. Future events, risks and uncertainties,
individually or in the aggregate, could cause actual results to
differ materially from those expressed or implied in these statements.
Those factors could include changes in worldwide and U.S. economic
conditions that materially impact consumer spending and consumer
debt, changes in demand for the Company?s products and services,
risks associated with the integration of acquisitions and other
investments, and other factors discussed in the ?Forward-looking
Information? and ?Year 2000 Information? sections in the management?s
discussion and analysis included at Part II, Item 7 in the Company?s
annual report on Form 10-K for the year ended December 31, 1999.
About Equifax Credit Bureau
Credit Bureaus Menu
Credit Overview
