Fiserv (NASDAQ: FISV), the leading global provider of financial services technology solutions and the largest provider of business-driven technology solutions for credit unions, announced today that it has signed 11 credit unions to new account processing contracts for its Portico (formerly Premier), OnCU and CUBE data processing systems.
In addition, Fiserv will transition one existing credit union client to another account processing system within the Fiserv family.
In addition to choosing a Fiserv account processing solution, all of the credit unions have chosen a wide range of value-added Fiserv solutions including Card Services, Virtual Branch® Internet banking, WisdomTM accounting tools, ConvergeIT interactive voice response and a host of best-of-breed products to streamline workflows and drive efficiencies across the enterprise.
"Fiserv's commitment to innovation combined with our highly integrated solution sets provide credit union clients with a single source for the results-oriented technology that helps them succeed. That's why one third of the nation's credit unions have chosen Fiserv as their technology partner to help them increase efficiency, mitigate risk, drive growth, and create a better member experience," said Jeff Givens, senior vice president and national sales manager, Credit Union Solutions at Fiserv.
Fiserv's newest credit union clients include:
Forward Financial Credit Union of Niagara, Wis. chose the CUBE in-house account processing system from Fiserv to meet their aggressive business goals. The credit union also chose a host of Fiserv value-add products to increase efficiency and enhance member services: TaskNavigator to standardize processes and create a customized workflow; the CUBE cross-selling and tracking module; Loancierge for streamlined lending processes; Virtual Branch with online lending and bill payment for Internet banking and services; WisdomTM accounting tools for general ledger, asset liability management and streamlined 5300 Call Report preparation; identity verification; and disaster recovery services.
Lampco Federal Credit Union of Anderson, Ind. also selected the CUBE data processing system, along with a host of Fiserv value-add options: Loancierge for streamlined lending; e-fichencySM paperless archival an and storage; and general ledger. Decision factors in choosing CUBE included ease of use, paperless office options and the positive experience expressed by local Fiserv clients.
1st Bergen Federal Credit Union in Hackensack, N.J. signed an agreement to install OnCU from Fiserv. The start-up credit union-organized by the Bergen County Community Action Partnership-chose the OnCU product for its ease of use and back office operations capabilities, and its strong market presence. The credit union also chose the Virtual Branch home banking solution from Fiserv.
Montgomery VA Federal Credit Union in Montgomery, Ala. selected Fiserv OnCU account processing because of the flexibility and capabilities of the OnCU product, as well its ease of use and logical flow. The credit union's board was especially impressed by the reasonable price for such a capable product. The credit union also chose Fiserv's Virtual Branch home banking product.
Rochester & Monroe County Employees Federal Credit Union of Rochester, N.Y. selected the OnCU account processing system from Fiserv to meet their enterprise processing needs. Citing strong vendor support, faster teller transactions and improved NCUA compliance as decision factors, the credit union also selected the Virtual Branch online banking system to extend their Internet banking capabilities.
Rochester Area State Employees Federal Credit Union of Rochester, N.Y. will convert to the OnCU system, and has also chosen Fiserv for online debit card transactions. Ease of use, improved back-office operations and personalized support services were key factors in their decision.
Schuylkill Federal Credit Union of Pottsville, Penn. chose the OnCU system for its account processing needs, citing ease of use, superior functionality and improved access to data as key decision factors. The credit union will also implement the Virtual Branch Internet banking solution and EFT solutions from Fiserv to improve efficiency and decrease costs.
Baptist Hospital Credit Union in Nashville, Tenn. chose Portico from Fiserv for its account processing and integrated internet banking after an extensive search from among three competing systems. Behind the credit union's decision was the appeal of Fiserv's product integration and the credit union's desire to offer new services such as automated lending via internet; complete card servicing from within the account processing system for EFT services; and streamlined 5300 call reporting.
Iowa Community Credit Union of Waterloo, Iowa will deploy the Portico processing system to support their business objectives well into the future. Impressed by Portico's functionality, superior account processing integration and the positive experience of local credit unions, Iowa Community will also implement several Fiserv ancillary products to promote efficient operations and drive growth: Virtual Branch Internet banking with online lending; Paytraxx online bill pay; identity verification; e-fichency paperless archival and storage; e-statements; and the full suite of Wisdom accounting tools.
Lower Columbia Longshoremen's Federal Credit Union of Longview, Wash. contracted to deploy the Fiserv Portico account processing system. Citing Portico's remarkable functionality, ease of use and exceptional system navigation as decision factors, the credit union will also deploy several Fiserv add-on solutions: e-fichency paperless archival and storage; NARC audio response system; Loancierge for streamlined lending processes; Virtual Branch Internet banking, identity verification; and Wisdom Asset Liability Management and 5300 Call Report Assistant tools.
Munising Credit Union in Munising, Mich. chose Portico from Fiserv as its new account processing solution, citing Portico's ability to automate and streamline many processes that had previously been done manually or required several steps. Munising staff also cited the tight integration the system has to offer. The credit union also chose Virtual Branch as well as Wisdom ALM, Investments & 5300 Call Report Assistant.
In addition to the 11 new clients, Fiserv transitioned one client from its existing account processing platform to another Fiserv offering. St. Vincents Employees Federal Credit Union in New York City moved to OnCU, citing software ease of use; system layout and design; local references; and OnCU's reputation for support.