News Details

State Employees' Credit Union Extends Long-Term Agreement with Visa

08/28/2008

Visa To Provide Full Suite of Consumer Products and Services to Country's Second Largest Credit Union as Part of New Ten Year Agreement

SAN FRANCISCO--(BUSINESS WIRE)--Aug. 28, 2008--State Employees' Credit Union (SECU), a non-profit financial cooperative based in North Carolina, and Visa Inc. (NYSE: V) today announced that they have renewed a comprehensive brand partnership through 2018. As part of the agreement, SECU, one of the largest credit unions in the United States, will continue to offer its members the full range of Visa consumer products - Visa debit, credit and prepaid - as well as processing through Visa Debit Processing Service.

"As a member-owned credit union, our focus is on providing financial services and payment options for our members that offer a safe, convenient and superior payment alternative," said Leanne Phelps, SVP Card & Record Services, SECU. "Through our partnership with Visa, we have been able to offer our members flexible payment tools that bring convenience and peace of mind as well as more efficient processing services and greater value back into the credit union."

"Visa is delighted to renew our long-standing partnership with SECU, providing its members with the full suite of Visa consumer products and services, including debit and debit processing services," said Hans Morris, President, Visa Inc. "As consumers increasingly turn to electronic payments, and in particular debit products, for non-discretionary spend, we look forward to continuing our relationship with SECU and delivering the tools and services to help its members manage their funds more conveniently and securely."

About Visa Inc.

Visa Inc. operates the world's largest retail electronic payments network providing processing services and payment product platforms. This includes consumer credit, debit, prepaid and commercial payments, which are offered under the Visa, Visa Electron, Interlink and PLUS brands. Visa enjoys unsurpassed acceptance around the world, and Visa/PLUS is one of the world's largest global ATM networks, offering cash access in local currency in more than 170 countries. For more information, visit www.corporate.visa.com.

About SECU

SECU is a non-profit financial cooperative owned by its members. SECU has been providing the employees of the State of North Carolina and their families with consumer financial services for over 70 years. Currently serving more than 1.4 million members, SECU provides services through 218 branch offices, 980 ATMs, two call centers and a website--www.ncsecu.org.

CONTACT: Visa Inc.
Jennifer Doidge, 415-932-2564
globalmedia@visa.com
or
State Employees' Credit Union
Leanne Phelps, 919-839-5134
leanne.phelps@ncscecu.org

SOURCE: Visa Inc.