Navy Federal Credit Union and Tsys announced today an agreement to renew their longstanding relationship to continue offering credit card processing products to members, as a major component of Navy Federal's consumer and credit card lending operation.
"Navy Federal's credit card program has been recognized in independent consumer reviews as one of the best in the country," said David Tillery, senior vice president, Consumer and Credit Card Lending for Navy Federal Credit Union. "The rich functionality and capabilities TSYS brings our business will help us continue to build our program and strengthen our cardholder relationships."
TSYS provides core processing services for Navy Federal's Visa and MasterCard credit card products. Services provided under the agreement include statement processing, card embossing, accounting and settlement, fraud prevention services, member service and collection operating systems, correspondence and risk mitigation. TSYS Loyalty provides tailored marketing and program design, analytics, rewards processing, redemption and fulfillment solutions that serve the unique needs of Navy Federal's members participating in nRewards, goRewards and Flagship credit card programs. TSYS supports more than 850,000 active credit card accounts at Navy Federal.
"Our relationship with Navy Federal is one we're extremely proud of, and we're excited to have the continued opportunity to help them grow their card business," said M. Troy Woods, president and chief operating officer for TSYS. "This agreement is a strong indicator of the