Concord EFS announced today that it had signed a non-binding letter of intent to acquire the Credit Union 24 Network.
“The Credit Union 24(R) Network is a strong franchise that has grown by focusing on meeting the unique needs of credit unions,” said Edward A. Labry III, Concord president and CEO-elect. “We believe that the combination of Concord’s processing engine and STAR’s national connectivity with the Credit Union 24(R) Network’s strong brand and segment expertise will create a powerful platform for a dedicated credit union network.”