Credit Union National Item Capture (CUNIC) has contracted with Fidelity Integrated Financial Solutions (IFS) for outsourced cheque imaging and processing services for its corporate credit union members.
CUNIC, which was formed in 2003 as a non-profit credit union service, provides cheque processing services for its owners - Arizona-based First Corporate Credit Union and Oregon-based Northwest Corporate Credit Union.
Under the deal, First Corporate will migrate from its current processing vendor to Fidelity's outsourced service in April, while Northwest Corporate will move from its in-house system to the Fidelity platform in Q3 2004. The new cheque imaging service will initally be used by more than 345 members served by the two credit unions.
Andy Duessel, chief financial officer for First Corporate Credit Union and CUNIC board member, says: "This relationship will equip CUNIC to deliver the advanced cheque processing technologies that are mission-critical to the success of our business."
Aurum Technology negotiated and closed the agreement with CUNIC immediately prior to its acquisition by Fidelity National Financial last month. Gary Norcross, president of Fidelity IFS, says: "This relationship represents a strategic milestone for us as our efforts to expand our credit union market presence have been rewarded."