SANTA ROSA, Cal. — Velera has expanded its relationship with Community First Credit Union to provide debit card processing and ATM terminal driving services, while continuing to support the credit union’s credit card processing, the company said.
The debit and ATM services began in July, Velera said in a Nov. 12 announcement.
Community First has $921 million in assets and serves about 72,000 members across seven counties in Northern California, according to Velera. Sonoma County teachers founded the credit union in the 1950s.
Velera said Community First sought a provider with experience managing card, ATM and digital banking conversions, along with project management expertise and an understanding of credit union operations. The company already handled the credit union’s credit card portfolio.
‘Understands Our Operational Needs’
“Partnering with Velera felt right from day one, because they operate with a true cooperative mindset,” CFCU COO Monika Besancon said in a statement. “As a premier CUSO, Velera understands our operational needs and the vision for our next phase of growth. The relationship has been collaborative and supportive from the start, with a shared commitment to our mission and the members we serve.”
Yvonne Stepflug, Velera’s senior vice president of client growth management, said bringing the credit union’s card programs together could help improve portfolio performance and increase usage.
“This collaboration creates an opportunity to strengthen portfolio performance, increase usage and deliver greater value to the credit union and its members,” Stepflug said in a statement.
Velera, a payments credit union service organization and financial technology provider, said it serves more than 4,000 financial institutions across North America and has more than four decades of industry experience.
