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Philadelphia-based credit union increases revenue and reduces expenses with First Data products and service
TruMark Financial® Credit Union certainly isn’t the largest financial
institution in the Philadelphia area, but that doesn’t keep First Data
from delivering first-rate consultative service and products.
“We’re treated as if we’re a much larger institution,” says TruMark
Financial Chief Operations Officer Dave Obarowski. “It’s definitely
a partnership.”
First Data’s consultative, personal approach has contributed to
measurable business benefits for TruMark Financial, including a
seven percent increase in ATM transactions, a 16 percent increase in
revenues and a 24 percent decrease in expenses. Implementation
of First Data’s Fraud Risk Identification Service (FRIS) has led to a
reduction in debit fraud and enhanced member confidence. And
TruMark Financial continues to rely on First Data to keep it on top of
ever-changing regulatory requirements.
ClientTruMark Financial Credit Union
ChallengeTruMark Financial Credit UnionEfficiently provide a full range of services to meet increasing member demands
SolutionFirst Data/STAR consultative services and products, including STAR® Network, ATM installation and driving, STAR STATION® Web portal and Fraud Risk Identification Service (FRIS) Results7% increase in ATM transactions16% increase in ATM revenue25% decrease in ATM expenses
A FIRST DATA CUSTOMER SUCCESS STORY:
TRUMARK FINANCIAL, FIRST DATA AND STAR: “A REAL PARTNERSHIP”
firstdata.com © 2011 First Data Corporation. All rights reserved. Page 2
The ChallengeFor TruMark Financial, a $1.2 billion community-chartered credit union with 13 locations
in the Philadelphia area, the business challenge is not just about delivering the financial
services today’s demanding consumers expect and deserve. It’s often about getting
the attention of suppliers who sometimes view TruMark Financial as a small (and
insignificant) customer.
“For a lot of the vendors we deal with, most of their contact with us is by phone or e-mail,”
explains Chief Operations Officer Dave Obarowski. “We get the feeling we’re ‘small’ in
their eyes. I want to deal with a vendor that will work along with us to meet our goals.”
The SolutionFirst Data has processed all of TruMark Financial’s daily transactions for over twenty years,
and it has done it with a consultative, personal approach that has resulted in increased
revenue and reduced costs. “We’re treated as if we’re a much larger institution,” says
Obarowski. “We get personalized service from our account executive, who visits regularly.
We never get the feeling she’s trying to ‘sell’ us anything. Instead, she brings us new ideas,
allows us to make decisions and accompanies us in that decision-making process. It’s
definitely a partnership.”
First Data provides universal access for TruMark Financial members to the STAR® Network
of more than 2 million ATM and retail locations across the country. It has installed additional
ATMs as the credit union has grown from four to 13 locations, and First Data drives all
TruMark Financial’s ATMs. Obarowski uses the STAR STATION® Web portal to receive daily
transaction reports, and for balancing and fraud research. And as a genuine payments
partner, First Data continually invests in research and development to help TruMark
Financial offer its members cost-effective, industry-leading financial services.
Most recently, TruMark Financial has implemented First Data’s Fraud Risk Identification
Service (FRIS), which provides real-time scoring to help detect and block fraudulent
transactions more efficiently. “FRIS allows us to review and exclude fraudulent debit
transactions in real time,” Obarowski explains. “The end result has been a reduction in
fraud and the ability to maintain the confidence of our members.”
The ResultsObarowski credits First Data and STAR with helping TruMark Financial grow efficiently in
both size and service to its members. “In our ATM operations, for example, we’ve seen
an increase over the last three years of about seven percent in our transactions, revenue
growth of 16 percent and a 25 percent reduction in expenses through our partnership
with First Data and STAR. They’re continually bringing new products and services to us.
They consistently deliver on what they promise, from ATM installations to processing
uptime to customer service. And especially in recent times, they’ve helped keep us on top
of regulatory changes with their products and their advice. It’s really a partnership I enjoy,
and one that’s continuing to help us keep our members quite happy.”
A First Data customer success story: TruMark Financial Credit Union
71
7%growth in ATM transactions
16%Increase in ATM revenue
25%Decrease in ATM expenses
“We’re treated as if we’re a much larger institution. It’s a real partnership.”Dave Obarowski Chief Operations OfficerTruMark Financial Credit Union