Virginia Credit Union signs for Fidelity core processing system

Source: Fidelity National Financial

Fidelity National Financial, Inc. (NYSE: FNF), a Fortune 500 provider of products and outsourced services and solutions to financial institutions and the real estate industry, and its Fidelity Information Services ("Fidelity") division announce that Richmond-based Virginia Credit Union has selected Fidelity's MISER core processing system and ViewPoint suite of branch automation, business intelligence and CRM capabilities.

One of the 75 largest credit unions in the country - with $1.2 billion in assets - Virginia Credit Union will leverage the comprehensive and integrated suite of Fidelity solutions to fully support its market growth and offer a wider array of service options to its more than 160,000 members.

"We had been on our existing system for 10 years and wanted to be sure about our choice for a replacement," said Dawn Jones, CIO for the credit union. "We were seeking a vendor with a proven track record of delivery and a system with fewer constraints; one that could provide us with better management reporting capabilities and continuously deliver new technologies that we could use to bring new services to our field of membership."

The decision in favor of the MISER system was the result of an extensive, 19-month search that intensified during the first half of 2004 with hands-on comparisons and site visits, multiple committee reviews and existing client surveys and interviews. Key factors in the selection process, according to Jones, included MISER's ability to help Virginia Credit Union define and deploy new products quickly based on truly powerful and integrated business intelligence as well as the financial strength and stability of Fidelity, which makes it a secure choice to serve the long-term interests of its members.

"Finally, our research revealed that MISER users are passionate about not only the product, but about the quality of service Fidelity delivers on a consistent basis. Taking all of this into account, we feel the MISER solution is the best choice to support our brand today and our vision for tomorrow," concluded Jones.

Full integration again came into the decision-making process when the credit union also opted for the comprehensive suite of capabilities designed to deliver the same look and feel to users, making the system easier to use and reducing training requirements. An integral part of the MISER system, ViewPoint delivers branch automation, CRM and business intelligence capabilities that offer a single, integrated business and member view that will assist Virginia Credit Union in streamlining service, identifying cross- selling opportunities and attracting new members.

"Virginia Credit Union is an institution that believes in living its brand," said Santo Cannone, senior vice president of Fidelity's Integrated Financial Solutions division and executive in charge of the company's credit union business. "To support this philosophy, we're delivering solutions that will streamline their processes, help them better understand and market to members, and strengthen their existing culture that fosters collaboration and teamwork among employees. And the flexibility built into our products means that this vibrant, growing institution will have the ability to meet their members' needs not just for today, but well into the future."

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