Community credit union texas

Business Editors

LAKE MARY, Fla.--(BUSINESS WIRE)--May 18, 2004

Fiserv, Inc. (Nasdaq: FISV) today announced that Community Credit Union (CCU), a $1.7 billion organization with 220,000 members serving the Dallas/Fort Worth Metroplex, has selected Fiserv CBS Worldwide as its core processing partner.

The decision to change was based on the superior business services functionality available in the Comprehensive Banking System (CBS), according to CCU Chief Executive Officer Gary Base.

"In an effort to meet the demands of our marketplace, we knew we had to change from our present system to one that offers more business-related functionality," Base said.

The dependence on third-party systems and the absence of many business offerings within credit union vendors necessitated taking the innovative approach of considering vendors outside the traditional credit union market, Base said.

"The credit union vendors could not supply us with a system that fit our needs so we expanded our search to include vendors that serviced banks as well as credit unions," Base said. "We realized that CBS offered the most comprehensive core and banking system. Our ability to partner seamlessly with other Fiserv systems was an important aspect of that decision."

Community Credit Union also will enhance its substantial image offering by licensing Nautilus, from Fiserv's Imagesoft Technologies unit, as its archive. In addition, CCU will use a variety of additional solutions from Fiserv, including the easyLENDER loan origination system.

Greg Green, Chief Operating Officer of Fiserv CBS Worldwide, said CCU's selection of Fiserv demonstrates CBS Worldwide's commitment to serving all financial institutions with more than $1 billion in assets.

"The environment for all financial institutions is changing very quickly and CCU has proven to be exceptionally progressive," Green said. "We believe many more organizations like CCU will be looking outside the traditional credit union space when looking for technology solutions. At Fiserv CBS Worldwide, we are proud that an organization like CCU, which is widely regarded as one of the most forward-thinking credit unions in the country, has chosen the CBS solution."

However, for CCU, the decision was not simply one of technology.

"CBS, and Fiserv as a whole, is an outstanding organization," Base said. "We know that the quality of the people backing up the system is just as important as the quality of the technology."

With more than 220,000 members and $1.7 billion in managed assets, Community Credit Union is federally insured through the National Credit Union Administration (NCUA). Founded in 1952, the Credit Union serves over 80 communities in the greater Dallas/Fort Worth area Membership is open to persons and their families who live or work in or are paid from one of the 80 communities. For more information about Community Credit Union, visit its Web site at www.communitycu.org.

CBS Worldwide is a unit of Fiserv and is a leading financial information systems provider serving the global marketplace. More than 200 commercial banks, private banks, finance houses, building societies, credit unions, thrifts and diversified financial companies use Fiserv CBS technology. Fiserv CBS Worldwide is on the Internet at www.fiservcbs.com.

Fiserv, Inc. (Nasdaq: FISV) provides industry leading information management systems and services to the financial industry, including transaction processing, outsourcing, business process outsourcing and software and systems solutions. The company serves more than 15,000 clients worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions. Headquartered in Brookfield, Wisconsin, Fiserv reported $2.7 billion in processing and services revenues for 2003. Fiserv can be found on the Internet at www.fiserv.com.