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New alliance offers Illinois CUs small biz solutions
WAKEFIELD, Mass. (3/11/10)--A new strategic merchant processing alliance between Primax and the Illinois Credit Union League (ICUL) Service Corp. (LSC) means that credit unions across the country now have a new avenue to help them serve and strengthen their relationships with their local business community. Primax will serve as a merchant provider and cash advance provider for more than 3,100 credit unions served by LSC in 45 states. Primax offers LSC’s credit unions the flexibility to set up merchant programs for businesses with various outsourcing options. The marketing alliance features an Agent program in which the credit union refers its merchant to Primax, who then takes care of the details and operations support to allow the merchant to be set up and in business. LSC recently hosted a webinar detailing how the program works. By providing processing services for merchant retail, mail order, telephone, and Internet transactions, credit unions assume no liability and at the same time can benefit from a new revenue stream, said the partners. “Local merchants in particular are looking for lower-cost processing options, and these services are a great opportunity for credit unions and can lead to other business relationships,” said George Fiegle, LSC executive vice president. “Our partnership with Primax is another way in which we are fulfilling our mission to help credit unions compete."


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