Press Releases
Prospera Credit Union First To Offer INTERAC® e-Transfer by Leveraging MemberDirect® Services
December 1, 2008 - Prospera Credit Union became the first credit union to offer the INTERAC e-Transfer service to its members, by leveraging MemberDirect Services, an Internet banking solution developed by Central 1 Credit Union.
INTERAC e-Transfer allows Canadians to send and receive money directly from one bank account to another, simply and securely, using online banking and email notification. The online service is a great alternative to cash and cheques.
Until recently, only customers of the big five Canadian banks have been able to send INTERAC e-Transfers. Now, Prospera’s 60,000 members have access to the service.
“Internet use continues to rise every year so providing customers with advanced electronic banking services is crucial in today’s marketplace,” said Mark O’Connell, President & CEO, Acxsys Corporation, the architects of the INTERAC debit network. “We’re pleased that financial institutions are responding to customer demand by providing access to convenient and secure online services, such as INTERAC e-Transfer.”
“The growing adoption of electronic banking with members, particularly with the younger demographic has been an area of focus for us,” said Bruce Howell, President and CEO, Prospera. “Prospera is already known for its outstanding member service. These new offerings enhance the way members can manage their money.”
Prospera’s launch was made possible by Central 1 Credit Union’s integration of INTERAC e-Transfer with its MemberDirect Internet banking solution, which is developed and hosted by Central 1 Credit Union.
“MemberDirect Services creates economies of scale for our clients, enabling them to create an online offering and provide advanced banking technologies to meet the needs of their members,” said Oscar van der Meer, Vice President, Technology and Payment Services, Central 1 Credit Union.
The INTERAC e-Transfer service is available to more than 300 credit unions and other financial institutions across Canada that use MemberDirect Services, opening up the door to an additional 3.9 million potential users.
About Prospera
Drawing on its more than 60-year history, Prospera is now one of the largest credit unions nationally and the fourth largest in B.C. With current assets of $2.3 billion under administration, Prospera’s offices are located from Vancouver to Kelowna, and include 16 branches, six insurance offices, six commercial centres and a contact centre. Prospera is a community-rooted organization dedicated to making a meaningful difference in the financial well being of its members. Prospera has an extensive community support program dedicated to recognizing community-based organizations, events and the volunteers who serve in our neighbourhoods. For more than 20 years Prospera has helped members achieve their educational goals through the Jump Start Educational Award Program.
About Central 1 Credit Union
Central 1 Credit Union is the central banking facility and trade association for its nearly 200 member credit unions in B.C. and Ontario. As the “umbrella organization”, Central 1 represents a consumer-oriented, full-service retail financial system that serves 2.8 million members and holds more than $60 billion in assets. Central 1 has more than $7.5 billion in assets. From offices in Vancouver, B.C., and Mississauga, Ont., nearly 500 employees provide a wide range of services to credit unions, including payments settlement, liquidity management, Internet and trade association functions.
About Acxsys Corporation
Acxsys Corporation is headquartered in Toronto, Ontario. Acxsys specializes in the development and operation of new payment services and provides electronic payments consulting and management services. The corporation’s shareholders, eight of the largest Canadian financial institutions, are the architects of Canada’s national shared electronic financial services network, supporting INTERAC Direct Payment, Canada’s national debit card service, and Shared Cash Dispensing for cash withdrawals at Automated Banking Machines. Acxsys also operates payment services in the Internet space, INTERAC e-Transfer for account-to-account funds transfers and INTERAC Online, direct payment from account for web purchases. For more information, please visit www.acxsys.ca
For more information, please contact:
Tanya Curtis, Prospera
604 864 6542 or tcurtis@prospera.ca
Art Chamberlain, Central 1 Credit Union
905 629-5534 or achamberlain@central1.com
Tina Romano, Acxsys Corporation/Interac Association
416-869-5062 or tromano@interac.ca
