Credit unions will move to Portico from Fiserv and add new digital solutions
BROOKFIELD, Wis.--(BUSINESS WIRE)-- Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Illinois Educators Credit Union (Springfield, Ill.) and Members Financial Federal Credit Union (Midland, Texas), have selected Fiserv to help them build a foundation for operational efficiency and member service.
Both credit unions will convert from their current core processing providers to Portico® from Fiserv, and will leverage the full-service account processing system to efficiently deliver robust, member-focused capabilities.
Illinois Educators, with $54.8 million in assets and nearly 7,000 members, selected Portico for its integrated digital ecosystem and focus on member experience, which will allow the credit union to operate efficiently. It also selected debit and credit processing from Fiserv, which are deeply integrated into the Portico ecosystem.
"Fiserv has demonstrated a deep commitment to partnership and to helping us solve our challenges and discover opportunities," said Jody Dabrowski, president and CEO, Illinois Educators Credit Union. "No credit union can afford to have a weak technology ecosystem, and we are confident in Portico, its development trajectory and in the Fiserv team."
Member's Financial has $45 million in assets and 5,300 members. In addition to Portico, the credit union will add Fiserv solutions to facilitate loan processing and deliver an excellent digital member experience, including mobile banking, online banking, electronic bill payment and remote deposit capture.
"The needs of our members and staff have changed considerably over the past several years," said Becky Wisdom, president and CEO, Members Financial FCU. "Due to the rapid change of pace, the Fiserv team's work and commitment to our strategic vision impressed us upon proposal. While the decision to convert was measured, it was also easy to make."
"Illinois Educators and Members Financial saw significant value in Portico as a platform to support their strategy execution," said Vincent Brennan, president, Credit Union Solutions, Fiserv. "We are proud of the work we are doing to meet the technology needs of credit unions of all sizes and charters, and look forward to a productive, long-term partnership with these institutions."
Portico is a comprehensive, ASP core processing solution that can be tailored by a credit union to meet their needs at a low total cost of ownership. Member-facing capabilities can be readily integrated, enabling credit union growth without the need for a large technical team.
Fiserv is the U.S. market leader in account processing services, trusted by more than one-third of financial institutions nationwide who rely on Fiserv for account processing solutions and expertise. 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) enables clients worldwide to create and deliver financial services experiences that are in step with the way people live and work today. For more than 30 years, Fiserv has been a trusted leader in financial services technology, helping clients achieve best-in-class results by driving quality and innovation in payments, processing services, risk and compliance, customer and channel management, and insights and optimization. Fiserv is a member of the FORTUNE® 500 and has been named among the FORTUNE Magazine World's Most Admired Companies® for four consecutive years, ranking first in its category for innovation in 2016 and 2017. For more information, visit fiserv.com.
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Source: Fiserv, Inc.
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