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NATION'S SECOND LARGEST CREDIT UNION TO ISSUE INTERLINK CARDS

 NATION'S SECOND LARGEST CREDIT UNION TO ISSUE INTERLINK CARDS
 SAN FRANCISCO, Nov. 10 /PRNewswire/ -- Interlink Network announced today that the nation's second largest credit union will begin issuing ATM cards with the Interlink logo this month.
 State Employees' Credit Union, which has more ATMs in North Carolina than any other financial institution, will convert its more than 300,000 ATM cards to Interlink. The move will allow cardholders to make purchases at all merchant locations that accept Interlink.
 "We are convinced that point-of-sale will be the delivery system of the future," said Sue Douglas, senior vice president of Central Services at State Employees' Credit Union. "We believe Interlink's convenience and state-of-the-art technology give our customers the best point-of- sale service available."
 "It's a pleasure to welcome one of the largest credit unions in the nation to Interlink," said Wesley C. Tallman, president and chief executive officer of Interlink Network. "The addition of a financial institution with the size and prestige of State Employees' Credit Union is a boon to Interlink's unparalleled growth."
 State Employees' Credit Union serves employees of the State of North Carolina, public school teachers and their families. Headquartered in Raleigh, the credit union has 90 branches and more than $3 billion in assets. Currently, 32 credit unions participate in the ATM network. State Employees' Credit Union has one of the lowest operational costs of any full service financial institution in the country.
 Interlink currently has more than 349 financial institutions committed to the program and processes more than half of all direct-debit, point-of-sale transactions in the United States. The network processed more than 100 million transactions last year, generating $2.5 billion in sales, and currently has more than 12.5 million Interlink cardholders.
 Following its acquisition of Interlink in the fall of 1991, Visa U.S.A. expanded the program to nationwide coverage, launching the world's largest on-line, direct-debit program months ahead of the competition. Interlink is a subsidiary of Visa U.S.A.
 In addition to Interlink, Visa offers a complementary debit product, the Visa Debit card, which allows cardholders to have their transactions authorized off-line at any of the 10 million locations that accept Visa worldwide.
 With more than 23 million debit cards in the United States, Visa leads the debit industry with 12 times more cards than its nearest competition, MasterCard. Visa estimates it will have 100 million debit cards in the United States by 1996.
 -0- 11/10/92
 /CONTACT: Debbie Stern, 415-570-3510, or Paul Wheaton, 415-378-4185, both of Visa U.S.A./ CO: Interlink Network; State Employees' Credit Union; Visa U.S.A. ST: California, North Carolina IN: FIN SU: JVN


GT -- SF004 -- 9221 11/10/92 11:02 EST
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Publication:PR Newswire
Date:Nov 10, 1992
Words:449
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