Firethorn Holdings, LLC, a wholly owned subsidiary of Qualcomm Incorporated (Nasdaq:QCOM), and University Federal Credit Union (UFCU) today announced the addition of UFCU to its growing list of financial institution customers.
As Austin's largest locally-owned financial institution with $1.2 billion in assets and 11 branches, UFCU will offer the Firethorn mobile application to its more than 141,000 members beginning in late 2010, further establishing Firethorn as a leading provider of mobile financial services for the nation's top credit unions.
The collaborative agreement will enable UFCU members to manage their finances through Firethorn's application platform and upcoming Short Message Service (SMS) solution. Using their mobile devices, UFCU members will be able to view their account balances, access their transaction histories and transfer money between eligible UFCU accounts.
"At UFCU, leadership requires living a shared sense of purpose and vision. It is collaborating and communicating freely, finding better ideas and sharing them across the entire organization, with the intent of the effect of raising performance and the quality of service delivered to our members," said Tony Budet, UFCU's president and CEO. "At UFCU, we relish change as a driver of innovation and we see the collaboration with Firethorn as a positive and strategic addition to our member experience."
"Financial institutions are recognizing the advantage of advancing their mobile strategies to increase customer loyalty and retention," said Rocco Fabiano, president of Firethorn Holdings. "As a leading credit union, UFCU is continuing its tradition of innovation, and Firethorn is proud to collaborate on their current mobile commerce strategies and to help advance their approach."