Two credit unions have signed to a multi-year contract converting to Fiserv, Inc.’s core processing system, the service provider announced today.
The $54.8 million-asset Illinois Educators Credit Union chose Portico from Fiserv for its integrated digital ecosystem and focus on the experience of its 7,000 members. The Springfield, Ill.-based CU also selected debit and credit processing from Fiserv.
Similarly, $45 million-asset Members Financial Federal Credit Union is adding Portico as well as Fiserv solutions to facilitate loan processing and deliver a better digital experience for its 5,300 members. The Midland, Texas-based CU has experienced considerable changes over the past several years, said Becky Wisdom, the president and CEO of Members Financial FCU.
Portico is an ASP core processing solution that can be tailored by a credit union to meet their needs. Member-facing capabilities can be readily integrated without the need for a large technical team.
"Illinois Educators and Members Financial saw significant value in Portico as a platform to support their strategy execution," said Vincent Brennan, president of Credit Union Solutions at 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."