Fiserv (NASDAQ: FISV), the leading global provider of financial services technology solutions, today announced that Space Coast Credit Union, a $3.2 billion credit union headquartered in Melbourne, Fla., has signed a five-year agreement for services including debit, credit and ATM processing, online banking and electronic bill payment.
Space Coast Credit Union (SCCU) serves more than 360,000 members online at SCCU.com and through a network of 63 branches and 143 ATMs. The credit union selected the Fiserv services following an evaluation of the institution's technology infrastructure, which was prompted by a merger with Eastern Financial Florida Credit Union (EFFCU) in June 2009. There was little overlap in the solutions that SCCU and EFCU offered their members prior to the merger, and the credit unions were both working with multiple financial technology providers.
"As a result of our merger with EFFCU, we were running multiple systems that were not fully integrated. It was a good time to evaluate our technology to make sure we were operating efficiently and meeting the financial management needs of our members," said Timothy M. Antonition, executive vice president, Retail Operations, Space Coast Credit Union. "Fiserv was able to provide a comprehensive, competitively priced set of integrated services. As part of our agreement we will also be introducing enhanced functionalities, particularly in the online channel, which will enable us to deliver a better overall member experience."
SCCU has been using the Spectrum(R) account processing platform from Fiserv since 1986, and is in the process of converting former EFFCU members to the platform. SCCU used Voyager(R) Consumer Banking from Fiserv and EFFCU used CheckFree(R) RXP(R) from Fiserv prior to the merger. The combined credit union plans to make all the Fiserv services, which include debit, credit and ATM processing, as well as Voyager Consumer Banking for online banking and CheckFree RXP for electronic bill payment, available to the entire membership in Spring 2010.
"We are honored to be selected as the primary technology provider to Space Coast Credit Union after their comprehensive evaluation," said Scott Butler, president, Credit Union Solutions, Fiserv. "This new enterprise solution set will enable SCCU to streamline product management and maintenance, while delivering enhanced online solutions to their members. Fiserv will provide the capabilities and scale that ensures their members have access to the most innovative and up-to-date services."