BROOKFIELD, Wis.–Fiserv is reporting it has seen strong growth in its credit union segment.
“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,” the company said.
In 2021, Fiserv said 234 credit unions chose it 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, in a statement. “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 Selects DNA
Among the CUs recently choosing Fiserv was Miramar, Fla.-based Tropical Financial Credit Union, which has $965-million in assets and more than 68,000 members. Tropical Financial 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.”
Also selecting Fiserv was the $122-million FRB FCU in Washington, D.C, which serves more than 5,500 members across the Federal Reserve System. FRB FCU selected Portico from Fiserv.
‘Best Fit for Us’
“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 FCU. “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.”
For info: fiserv.com.
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