(NASDAQ: MGI), a leading global money transfer and payment services
company, today announced a five-year renewal of its agreement with
Pennsylvania-based Members 1st Federal Credit Union to provide check
services through its PrimeLink® Official Check outsourcing program.
This program offers financial institutions a cost-efficient way to
manage clients' checks, including daily balancing and reconciliation,
inventory management and real-time updates through a state-of-the-art
“We provide one of the most advanced official check processing programs
in the industry to more than 1,000 financial institutions and 7,000 bank
branches in the country,” said Pete Ohser, MoneyGram’s executive vice
president, United States and Canada. “With a relationship spanning a
decade, Members 1st Federal Credit Union is a valued MoneyGram client,
and we are pleased that our service has played an integral role in the
company’s day-to-day operations. We look forward to serving the business
and its customers as our relationship continues to grow.”
MoneyGram has supported the credit union with its PrimeLink® Official
Check service since 2004. The company also helps prevent fraud losses by
identifying fraudulent checks and provides significant support to credit
union personnel who use the program.
“MoneyGram has been a strong ally assisting us in mitigating fraud
losses,” said Stephen Murray, executive vice president of finance of
Members 1st Federal Credit Union. “Beyond fraud prevention, we’ve also
found MoneyGram’s effective and reliable web-based platform, customer
care and reliability to be critical to the success of our continued
Members 1st Federal Credit Union has more than $2.6 billion in assets
and more than 200,000 members throughout South Central Pennsylvania.
About MoneyGram International, Inc.
MoneyGram, a leading money transfer company, enables consumers who are
not fully served by traditional financial institutions to meet their
financial needs. MoneyGram offers money transfer services worldwide
through a global network of 339,000 agent locations - including
retailers, international post offices and financial institutions - in
more than 200 countries and territories. MoneyGram also offers bill
payment services in the U.S. and Canada.
Michelle Buckalew, 469-834-9631
Source: MoneyGram International, Inc.