Credit Unions Reach Milestones and Ready for Future Growth with Selection of Fiserv Core Systems
BROOKFIELD, Wis., May 11, 2022 – Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, has experienced strong growth in its credit union segment as it has continued to support credit union clients and their members through the COVID-19 pandemic and beyond.
In a rapidly shifting environment, credit unions have built the foundation for success with Fiserv core processing platforms, whether they have moved to Fiserv from other providers, renewed relationships or sustained their growth by transitioning from one Fiserv core to another. In 2021, 234 credit unions chose Fiserv as their core solution provider.
“Our market position is differentiated by the breadth of our offerings and the depth of our expertise. We can address the entire market – not just one segment of it, not just one piece of the technology infrastructure credit unions need to succeed,” said Theo Curey, president of Credit Union Solutions at Fiserv. “Our momentum is a testament to the investment Fiserv is making in core platform enhancements and innovative surround solutions. Our clients are enabled to be leaders in digital adoption and positioned to deliver a meaningful member experience in any channel.”
Tropical Financial Credit Union, based in Miramar, Florida, with over 68,000 members and $965M in assets, recently chose DNA® from Fiserv. “Keeping current with technology is required to remain competitive in banking. The pandemic accelerated the need for digital adoption and innovation,” said Amy McGraw, vice president of Marketing and Chief Experience Officer at Tropical Financial Credit Union. “We’ve worked with Fiserv to enable digital offerings and facilitate fintech partnerships, as well as to make banking easier and more efficient for our members and employees.”
FRB Federal Credit Union, headquartered in Washington, D.C., with $122M in assets and serving more than 5,500 members across the Federal Reserve System, made the move to Portico® from Fiserv last year. “A core change is a huge undertaking. We knew Fiserv was the best fit for us, and within the Fiserv suite of core systems, Portico is the one that made the most sense for a credit union of our size,” said Theresa Trimble, CEO of FRB Federal Credit Union. “We don’t have a large IT team, so we needed a core provider that could do a lot of that work for us. Portico has given us better access to our data and the integrations give us a better understanding of how our members are interacting.”
ABCO Federal Credit Union, headquartered in Willingboro, New Jersey, with more than 28,000 members and over $260M in assets, marked its first full year on Portico in December 2021. “We chose Portico over the other options that we explored because we understood that a larger organization like Fiserv would be able to bring new products and new services to market for us in a more expedited manner and a better cost point. And we'd be able to integrate with our core,” said Jill Peterson, CEO of ABCO Credit Union.
In a world that is moving faster than ever before, Fiserv helps clients deliver solutions that are in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud- based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index, the FORTUNE® 500, and has been recognized as one of FORTUNE World's Most Admired Companies® for 11 of the past 14 years and named among the World’s Most Innovative Companies by Fast Company for two consecutive years. Visit fiserv.com and follow on social media for more information and the latest company news.
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