SOURCE: eFunds Corporation

April 03, 2007 08:00 ET

CO-OP Financial Services and EFD, eFunds Corporation, Sign Multi-Year Contract Extension

Growth and Successful 19-Year Partnership Lead to Extension

SCOTTSDALE, AZ -- (MARKET WIRE) -- April 3, 2007 -- EFD, eFunds Corporation (NYSE: EFD), the company that delivers innovative enterprise payments and data & decisioning solutions, today announced that CO-OP Financial Services, the No. 1 credit union EFT network and processor in the U.S. financial services industry, has extended its long-term relationship with EFD. The agreement calls for EFD to continue to provide third-party EFT processing services including ATM network access, ATM processing, debit/card services and shared branching services to CO-OP Financial Services member credit unions across the country.

"CO-OP is dedicated to providing our membership with the latest products, knowledge and support. By delivering EFD's innovative, industry-leading processing services within our full-service payments delivery network, our member credit unions have the latest reliable EFT products and services available to help them compete, acquire new members and thrive in the emerging digital world," stated Stan Hollen CEO, CO-OP Financial Services. "We are pleased to extend our long-term relationship with EFD."

"Financial services companies rely on EFD to deliver proven, innovative solutions that address real business needs. As the largest credit union owned EFT network in the United States, CO-OP Financial Services is a great example of how our technology is helping our customers succeed," said Nelson Eng, President, EFD U.S. "We are excited to continue to partner with CO-OP and believe this extension will create many new opportunities for our companies and our customers."

About EFD, eFunds Corporation

With more than 35 years of enterprise payments and data & decisioning expertise, EFD, the Payments Solutions Company, delivers flexible, innovative solutions to the world's leading businesses. Leveraging mission-critical business insight, EFD enables financial services companies, retailers, and government organizations to grow their businesses while reducing transaction and infrastructure costs, detecting potential fraud and building long-term customer value. EFD's flexible delivery model means solutions can be run in-house, outsourced or anything in between, helping customers balance the need for control with operational efficiency and low cost of ownership. From the point of account opening to the settlement of every transaction -- debit, credit, or prepaid -- EFD helps businesses win more of the right customers, serve them more efficiently and keep them.

About CO-OP Financial Services

Established in 1981 and located in Ontario, Calif., CO-OP Financial Services (formerly CO-OP Network) is the nation's largest credit union service organization. Wholly-owned by its credit union shareholders, CO-OP provides volume discounts on products and services that include ATM network access, ATM processing, debit/card services and shared branching. With nearly 2,000 credit union members, more than 25,000 surcharge-free ATMs (including 6,000 deposit-taking), 100 million-plus monthly transactions and 24 million cardholders, CO-OP Financial Services is the No. 1 credit union EFT network and processor in the U.S. financial services industry. CO-OP Financial Services' membership has access to 800,000 ATMs worldwide through links to NYCE, STAR, Cirrus, Pulse and Plus.

Statements made in this release concerning the Company's or management's intentions, expectations, or predictions about future results or events are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are necessarily subject to risks and uncertainties that could cause actual results to vary from stated expectations and such variations could be material and adverse. Factors that could result in such a variation include, but are not limited to, the inherent unreliability of earnings and revenue growth predictions due to numerous factors, including many beyond the Company's control, potential difficulties, delays and unanticipated expenses inherent in the development and marketing of new products and services, competitive factors, the unpredictability of merger and acquisition activity, and the numerous risks and potential additional costs, disruptions and delays associated with the establishment of new business initiatives. Additional information concerning these and other factors that could cause actual results to differ materially from the Company's current expectations is contained in the Company's Annual Report on Form 10-K for the period ending December 31, 2006.

eFunds Corporation
Gainey Center II, Suite 300
8501 North Scottsdale Road
Scottsdale, AZ 85253

Contact Information

  • For additional information:
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    Brodeur Worldwide
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