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Two credit unions switch to Fiserv core account processing to provide foundation for their digital focus

Credit unions will move to Portico from Fiserv and add new digital solutions

BROOKFIELD, WI (December 11, 2017)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 of 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.

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About Fiserv

Fiserv, Inc. (NYSE: FI), a Fortune 500 company, 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 and has been recognized as one of Fortune® World’s Most Admired Companies™ for 9 of the last 10 years. Visit fiserv.com and follow on social media for more information and the latest company news.

Contacts

Fiserv Media Relations:
Mark Jelfs
Senior Manager, Communications
+1 262-737-8244
mark.jelfs@fiserv.com

NCR Atleos Media Relations:
Scott Sykes
Executive Director, Public Relations
scott.sykes@ncratleos.com

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