Diamond expanded its credit union presence with the acquisition of Palmetto Cooperative. As part of its ongoing strategy of growth and expansion in data-driven communications it offers to credit unions, Carol Stream, Illinois-based Diamond Marketing Solutions (“Diamond”) has acquired the statement processing services of Palmetto Cooperative, a Credit Union Service Organization (CUSO) specializing in payment services, member communications, and business process outsourcing. Located in Columbia, South Carolina, Palmetto Cooperative has been providing accurate, trustworthy service to 150+ credit unions with their print and digital communications, as well as business process and operational support for more than 50 years.
With the addition of the Palmetto Cooperative customer base, Diamond will serve over 500 credit unions through statements, invoices, legal notices, credit notifications, IRS forms, and other critical documents. From paper materials sent via first-class mail, to e-notification and e-delivery, Diamond creates and processes sensitive member documents using advanced technology, specialized expertise, and a strong commitment to security.
The addition of Palmetto Cooperative to the Diamond family greatly expands the Diamond footprint to 10% of the credit union marketplace for their critical communications services. This acquisition reinforces the Diamond focus in the financial and healthcare verticals and its significant marketplace acceptance. The company supports these clients across six facilities in four states with 500,000+ sq. ft. of production capacity and 500+ employees.
"Diamond is solidly positioned in financial services – with our focus on credit unions. Providing our extensive expertise and services to the Palmetto Cooperative family adds new capabilities and talent to help take their customers to the next level," Diamond CEO Mark Peterson emphasized.
Mr. Peterson goes on to say that “Diamond provides integration with social media components such as interactive links and video streaming, and has been able to capture online the member's personal experience, with warm visual messaging and dialogue with real people through a blending of technology and media tools.”
Palmetto Cooperative will remain in its location through the 6- to 8-month transition, and current staff will continue to provide exceptional customer support services through this transition.