Fiservs IntegraSys Unit Renews Premier Contracts Valued at More than $25 Million with Credit Unions

Monday 1 March 2004 18:45 CET | News

IntegraSys, a unit of Fiserv, has signed more than $25 million in contracts for its Premier credit union service bureau core processing solution during the fourth quarter of 2003.

These renewals demonstrate the strong position Premier has established as the most commonly used service bureau core application among U.S. credit unions. Selected credit unions renewing contracts with Premier in the fourth quarter include: -- A-K Valley Federal Credit Union: A Lower Burrell, Pennsylvania-based credit union with $45 million in assets and close to 9,000 members, A-K Valley FCU also uses Virtual Branch electronic banking, Virtual Branch Lending and card/transaction processing services from IntegraSys. A-K Valley has been a client for more than 15 years. -- Central Bergen Federal Credit Union: Hackensack, New Jersey-based Central Bergen FCU serves close to 17,000 members, has $110 million in assets, and also uses IntegraSys Virtual Branch electronic banking, electronic statement presentment, WISDOM Financial Management Suite and card/transaction processing services. -- Collins Community Credit Union: This Iowa-based credit union, which has more than 54,000 members, also uses Virtual Branch electronic banking, Statement Express, Virtual Branch Lending and eDebit from IntegraSys. -- Credit Union Services: A Moorestown, New Jersey, company that provides support and data processing for six area credit unions representing $35 million in assets and 12,700 members, Credit Union Services also uses Virtual Branch electronic banking, the e-fichency online reporting tool, Statement Express and WISDOM Financial Management Suite. Credit Union Services works with the following credit unions: ACUME, Aluminum Shapes Employee FCU, Garden State FCU, Local 1360 UFCW FCU, NJ Suburban FCU and Salem County School Employee FCU. -- Palisades Federal Credit Union: Based in Pearl River, New York, this $110 million, 8,600-member credit union also uses IntegraSys services including Virtual Branch electronic banking, Virtual Branch Lending, Loan Advantage, Statement 2000, e-fichency and card/transaction processing. -- Tucoemas Federal Credit Union: A client since 1977, Tucoemas FCU, a $173 million, 36,500-member credit union based in Visalia, California, also renewed IntegraSys Virtual Branch electronic banking, Virtual Branch Lending, e-fichency and card/transaction processing services. -- Washoe Credit Union: A $60 million, 9,000-member Reno, Nevada-based credit union, Washoe CU also uses Virtual Branch electronic banking, Virtual Branch Lending, e-fichency, Statement Express and card/transaction processing services. New Features and Development The new version of Premier will launch in the second quarter of 2004. Also, Premier users can take advantage of the recently announced alliance with John M. Floyd & Associates for its OVERDRAFT PRIVILEGE program. Other new functions include risk based pricing and the integration of eVantage, a member relationship management tool that uses activity-based costing and profit models to help credit union executives better manage their business. Premier is a highly sophisticated online service bureau system that delivers comprehensive processing to hundreds of credit unions. Premier supports all of a credit unions service needs - from ATM support to workflow processing to online interfaces and report queries - in addition to totally integrated share, loan, general ledger, accounting and payroll processing systems. The core processing application is the central technology hub in a credit union that is used to open and manage accounts, process loans and deposits, complete required accounting functions and fulfill other member relationship requirements.

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Categories: Payments & Commerce | Payments General
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