CORVALLIS, ORE., Jul 27, 2006 (Canada NewsWire via COMTEX News Network) -- Summit Information Systems, a unit of Fiserv Inc. (Nasdaq: FISV), has been chosen by Ladysmith & District Credit Union, based in Ladysmith, B.C., as its new banking systems and technology partner. The Summit iSpectrum banking system, built exclusively for Canadian credit unions using only 21st century Internet technologies, will drive the credit union's expansion plans and aggressive product and service initiatives.

"Our goal is to double in size within a relatively short timeframe," said John de Leeuw, CEO of Ladysmith & District, which has $90 million in assets and serves 6,000 members. "Our current legacy banking system no longer met our needs. Matchplus, a program we offer that allows members a guaranteed match of local competitive products and the selection of a "plus", is an example of the innovative products we require to grow in our marketplace. Ladysmith & District has an enviable track record for providing superior member service; however, the limitations with our current technology platform have hindered the delivery of new products to market. We were looking for a new system with a modern, flexible structure to facilitate our growth and product initiatives. iSpectrum has all this and, what's more, we will be able to improve the delivery of product programs like Matchplus."

iSpectrum, an enterprise-wide and completely browser-based solution, is the most open and flexible banking system utilizing the Oracle(R) relational database available today for credit unions. The powerful, yet affordable Blade Server platform supported by iSpectrum can easily scale from the smallest to the largest institutions. iSpectrum architecture provides for total hardware redundancy, maximizing availability and continuous operations. Hardware can be configured with no single point of failure.

"Many credit unions in Canada face challenges with their current banking system," said Kevin Sparks, president of Summit. "Summit iSpectrum is the new alternative for institutions of all sizes. iSpectrum provides credit unions with total control and flexibility in managing all aspects of their business. The modern, easy-to-use browser user interface and product configurability options of iSpectrum enable rapid time-to-market for new products and services. iSpectrum sets the standard as the easy, affordable technology option, even for smaller credit unions. Our partnership with Ladysmith & District will uniquely position the credit union to provide innovative services and products to its members well into the 21st century."

Additional information about Ladysmith & District Credit Union can be found at www.ldcu.ca.

About Summit Information Systems

Summit Information Systems, a unit of Fiserv Inc., serves U.S. and Canadian credit unions with In-House and On-Line advanced technology transaction processing solutions. Summit products include Spectrum for U.S. credit unions and iSpectrum for the Canadian market. Since 1980, Summit has focused on developing and delivering forward thinking products that enable credit unions to cultivate member relationships and compete more effectively. For more information on iSpectrum, visit www.summitsite.com.

About Fiserv Inc.

Fiserv Inc. (Nasdaq: FISV), a Fortune 500 company, provides information management systems and services to the financial and health benefits industries. Leading services include transaction processing, outsourcing, business process outsourcing, software, and systems solutions. The company serves more than 17,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions, and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2005 and 2004 FinTech 100 surveys. Fiserv Health provides health plan management, pharmacy benefits management, and BPO services to the managed care market and self-funded commercial and government employers and health plans. Headquartered in Brookfield, Wis., Fiserv reported more than $4 billion in total revenue for 2005. For more information, please visit www.fiserv.com.

SOURCE: Summit Information Systems

Summit Information Systems Christine Pearsall, 800-937-7500, ext. 6388
christine.pearsall@summit.fiserv.com or Fiserv Inc. Mike Muckian, 262-879-5667
mike.muckian@fiserv.com

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