TSYS® Signs World's Largest Credit Union, Navy Federal
TSYS Total Solutions and Vital Processing Services to provide additional support
Columbus, Ga., July 25, 2000 — Total System Services, Inc.® (TSYS®) (NYSE: "TSS"), today announced the signing of a multiyear agreement with Navy Federal Credit Union, the world's largest credit union, to provide processing solutions for its consumer credit card portfolio.
The agreement also calls for TSYS Total Solutions® (Total Solutions®) to provide credit card marketing support and Vital Processing Services® (Vital®), TSYS' joint venture with Visa®, to provide merchant services at Navy Federal's branch offices. Navy Federal Credit Union's 645,000 account consumer credit card portfolio will be processed on TSYS' state-of-the-art TS2® processing platform.
TSYS President Philip W. Tomlinson said, "Welcoming Navy Federal Credit Union into the TSYS family is a pleasure for us. We are excited about the opportunity this agreement offers TSYS, Total Solutions, Vital and Navy Federal Credit Union to build an outstanding partnership for the future. Knowing that in some way we are helping Navy Federal Credit Union serve our nations' Navy and Marine personnel makes us extremely proud."
"Our mission is to perform with such excellence that all present and potential members will choose Navy Federal Credit Union as the preferred source for their primary lifetime financial services," said Tom Steele, vice president of Navy Federal's credit card division. "We believe the flexibility, data accuracy, data availability and superior customer service TSYS offers will allow us to not only continue to be the world's largest and best credit union but also to grow and provide our customers with a greater variety of products and services."
Navy Federal Credit Union is the world's largest credit union, with more than 1.9 million members and $11 billion in assets. Headquartered in Vienna, Virginia, Navy Federal operates 88 member service centers and 224 proprietary "No Surcharge" ATMs worldwide. For over 60 years, Navy Federal has served most military and civilian personnel of the Navy and Marine Corps and their families. For more information about Navy Federal, visit www.navyfcu.org.
Based in Columbus, Ga., TSYS Total Solutions (Total Solutions) (www.total-solutions.com) is a wholly owned subsidiary of Total System Services, Inc. (TSYS). Recognized as the second largest inbound telemarketer (Credit Card Management Magazine, July 1999), Total Solutions is a full-service, direct marketing company with telephone, Internet and direct mail capabilities. Specializing in end-to-end account management services, Total Solutions fully supports its clients in areas such as customer service, credit, collections, and fraud management. These services are provided to both financial and non-financial institutions with the ability to stand-alone or integrate seamlessly into THE TOTAL SYSTEM®.
Vital Processing Services® (Vital®) is a recognized leader in technology-based commerce enabling services. Vital's clients include acquirers and merchant service providers that offer a wide variety of electronic payment processing services to merchants. Headquartered in Tempe, Ariz., Vital does not compete with its clients for their merchant business. Vital services include merchant POS products, electronic authorization and data capture; VirtualNetTM Internet-commerce suite of services; clearing, settlement and exception processing; merchant accounting, billing, and reporting; operational fulfillment services (including chargeback and retrieval processing); risk management; and customer service. Vital is a merchant processing joint venture of Visa® U.S.A. and Total System Services, Inc.® (TSYS®) (NYSE: TSS). Vital can be found on the Internet at (www.vitalps.com).
TSYS is one of the world’s leading processors of data and transactions for domestic and international issuers of credit, debit, commercial and private-label cards. TSYS’ sophisticated systems offer online accounting, data processing, electronic commerce services, portfolio management, account acquisition, credit evaluation, risk management and customer service. With more than 206.2 million accounts on file, TSYS and its family of companies service the entire lifecycle of card accounts, making it possible for 288.6 million consumers to use their cards anytime, anywhere. Headquartered in Columbus, Ga., TSYS (www.totalsystem.com) is an 80.8 percent owned subsidiary of Synovus Financial Corp. (NYSE: "SNV") (www.synovus.com), named one of "The 100 Best Companies To Work For" by FORTUNE magazine in 2000.
Contacts:
Danita Gibson-Lloyd
Corporate Communications Manager
Total System Services
ph. (706) 649-5578
dglloyd@totalsystem.com
Loren Moeller
Public Relations Manager
Navy Federal Credit Union
ph. (706) 644-9423
loren_moeller@navyfederal.com