Payments/Credit/Debit

MILWAUKEE - Elan, the card processing firm which is a subsidiary of U.S. Bancorp, has purchased two more credit union portfolios. The $600 million Harborstone Credit Union, headquartered in Lakewood, Washington, sent 17,200 accounts worth $24 million in outstanding balances to Elan when it sold the portfolio, according to Elan....

RIVERWOODS, Ill. - The biggest news in the debit industry since the settlement of the Wal-Mart lawsuit came in last week as Discover, a nationwide card brand well known among consumers for its 1% rebate reward program, announced the roll out of a signature debit card. Discover will market the...

FREDERICK, Md. - Over limit fees are still rising among major card issuers, but at a significantly slower pace than previously, according to Cardweb.com, a Web site which tracks card industry trends. Even though the average over limit fee crossed the $31 milestone in 2005, the site reported that this...

TALLAHASSEE, Fla. - Credit Union 24, the credit union-owned ATM network headquartered in Florida, processed almost 18 million ATM and EFT transactions in December 2005, a record for a single month and 23% over the number of transactions the network processed in December 2004. "Credit Union 24's consistent transaction growth...

ALTOONA, Penn. - Sheetz, a network of 310 convenience stores spread across Pennsylvania, West Virginia, Maryland, Virginia, Ohio and North Carolina will stop surcharging for ATM transactions at its stores this year, a company spokesman confirmed. The company is negotiating the details of the move with its ATM deployer now,...

SAN DIMAS, Calif. - Credit unions which are members of the Financial Service Centers Cooperative shared branching network will share in a record $1.8 million patronage dividend later this year, the network has announced. The West Coast network said it would distribute the funds in the wake of the patronage...

HOUSTON - Executives from two Chinese banks, as well as Discover and PULSE took part in the first swipe of a debit card issued by a Chinese bank at a point of sale terminal in the U.S. On Dec. 5, Liu Tinghuan, Chairman of China UnionPay (CUP), and Su Ning,...

PHOENIX -- Members of the $2.4 billion Desert Schools FCU can choose the credit union's Visa gift card again this year after the CU sold 13,000 of the cards between October and December of 2004. The cards will be available from the CU's branches as well as online and will...