NXGEN Wins Largest Iowa Credit Union

NXGEN Payment Services wins Contract with Largest Credit Union in Iowa

January 2012, Whitefish, MT - Vancouver, BC - London, UK - NXGEN Payment Services today announced a major new business win, signing Veridian Credit Union, the largest Credit Union in Iowa. This win follows quickly on the heels of signed contracts with the largest Credit Unions in both Oregon and South Dakota.

Veridian Credit Union has $1.9 Billion in Assets, a member base of 162,000 and 25 locations across the state. NXGEN emerged the victor in this six-way competitive business review, besting some of the biggest name payment processing firms in North America.

"NXGEN was quantifiably superior on every dimension of our evaluation. As Credit Unions are growing in size and importance to the US financial services industry, it is more critical than ever that we partner with a payment process servicing company that has the depth of reporting, risk mitigation, and full range of products that allow us to significantly expand our market share," said Tim Lord, Manager of Business Development. "Business Intelligence in Merchant Services matters. It's not just about lowest rate anymore."

"We are thrilled to partner with Veridian. They represent the very best in companies that are both strategic and practical about how they go about achieving real sustainable growth. Financial Institutions like Veridian are a perfect match for NXGEN because they highly value what differentiates us from any competitors. Our strengths have always been in robust reporting/transparent accountability, compliance and security, range of processing options, referral network management, training and fair rates. We look forward to a long and productive association!" added Tim Hinderman, NXGEN's Global VP Sales and Marketing.

Veridian business customers throughout Iowa are already beginning to benefit from the NXGEN partnership.

About Veridian Credit Union

Veridian Credit Union, founded in 1934 in Waterloo, Iowa, is a not-for-profit financial cooperative owned by its members. The credit union offers a full range of consumer and business financial services and employs more than 500 Iowans throughout 25 branches. For more information, visit www.veridiancu.org or call (800) 235-3228.

About NXGEN Payment Services

NXGEN, with merchants in more countries than any other MSP, is Elavon’s number one ranked MSP. Founded in 1999, NXGEN's 40% y-o-y growth is the result of continually offering clients innovations that matter. Scale, strength and security mean NXGEN merchants around the world benefit from single platform execution, a full suite of integrated products, value-added servicing, seamless merchant experience, depth management reporting, plus multi-billion dollar rate clout. NXGEN's international headquarters are in stunning Whitefish, Montana.