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Fiserv signs five credit unions to account processing contracts

14 July 2009  |  1645 views  |  0 Source: Fiserv

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 five credit unions to new account processing contracts for its Portico, CubicsPlus and Galaxy credit union platforms.

In addition to choosing a Fiserv account processing solution, all of the credit unions also selected a wide range of value-added Fiserv solutions, such as Card Services, Virtual Branch Internet banking, Wisdom accounting tools, ConvergeIT interactive voice response and other best-of-breed products to help streamline workflows and drive efficiencies across their enterprise.

"Fiserv continues to win in competitive bids due to our unmatched resources and diverse portfolio of credit union-focused platforms. Clients also tell us they appreciate the company's solid financial position in these uncertain times. We are finding that the Fiserv combination of stability and choice gives credit unions a comfort level in selecting a technology partner, reliable platform, and exciting new services to offer to their members. Credit unions continue to turn to us for the technology tools that deliver a better experience for their staffs and their members," said Jeff Givens, senior vice president and national sales manager, Credit Union Solutions at Fiserv.

Reinforcing Fiserv's core competency in Processing Services among other areas of expertise, Fiserv's newest credit union clients include:

Seasons Federal Credit Union in Middletown, Conn. will implement the Portico credit union platform from Fiserv. Leaders of the $101 million credit union found the Fiserv enterprise-wide strategy appealing and believe it will best support them as they implement solutions that will enable them to achieve their strategic goals for serving their 13,200 members.

"We like the flexibility Fiserv offers to select the account processing solution that meets our needs, and being able to choose from their vast array of integrated, value-added solutions to create a customized technology platform designed for our specific business needs," said Mark Labbe, chief financial officer for Seasons FCU.

Ashtabula County School Employees Credit Union in Ashtabula, Ohio will also implement the Portico credit union platform and add several tightly integrated Fiserv solutions to its platform, including EFT processing; DocumentIT paperless processing, e-fichencysm image storage; Reporting Analytics; National Audio Response Center (NARC); and Virtual Branch Internet Banking with Bill.Pay and NotiFI electronic statements. Credit union officials at the $62 million, 6,900 member organization estimate the move to Portico will save 1.5 man hours per employee per day thanks to the system's ability to streamline and automate service delivery.

United Police Federal Credit Union in Miami, Fla. is also moving to the Portico credit union platform and has selected a wide variety of additional Fiserv products and services, including EFT processing, Virtual Branch, Wisdom and e-fichency document imaging. United Police, which has $42 million in assets and serves 4,650 members, selected Portico for its ease of use and because Fiserv offered a cohesive and comprehensive solution.

Eastern New York Federal Credit Union in Napanoch, N.Y. will be moving to the Galaxy credit union platform from Fiserv, choosing Galaxy ASP processing as well as the Wisdom accounting suite; Wisdom 5300 Call Report Assistant; STARS reward program; Account.Create online account opening; and Member Relationship Plus relationship pricing tool from Fiserv. The $51 million credit union plans to use the Member Relationship Plus platform as the launch pad for all contact with its 6,929 members.

"We were not only impressed with the Galaxy system's robust processing and reporting capabilities, but also with its client-centric design that matches our goals: to provide personalized, relevant products and services - efficiently and economically," said Chris Langley, president and chief executive officer of Eastern NY FCU. "The Galaxy system and the integrated Member Relationship Plus solution will enable us to manage the overall service experience rather than just handle the transaction."

Morris Sheppard Texarkana Federal Credit Union in Texarkana, Tex., the first federally chartered credit union in the United States, plans to implement the CubicsPlus credit union platform from Fiserv. In addition to the account processing solution, the $7.1 million credit union will install Virtual Branch Internet banking and debit card processing from Fiserv. The local reputation of Fiserv, coupled with Fiserv's financial stability, were key factors influencing the credit union's choice. Morris Sheppard Texarkana FCU, with 1,120 members, holds Federal Credit Union Charter Number One. It was founded in 1934 and named for Sen. Morris Sheppard (D-Tex.).

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