CFE Federal Credit Union Selects Acumen from Fiserv

Brookfield, WI - 8 May 2012

  • $1.3 billion credit union selected the Acumen account processing solution from Fiserv to enable growth and expand the Internet channel
  • CFE FCU cites business continuity and scalability as key decision-making factors
  • The credit union also selected WireXchange, Prologue Financial Accounting Services, Nautilus and Next Multi-Channel Marketing from Fiserv

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions and the largest provider of business-driven technology solutions for credit unions, announced today that CFE Federal Credit Union of Lake Mary, Fla., has selected the Acumen(R) account processing solution from Fiserv with in-house delivery. Credit union leaders cited the solution's built-in business continuity features, scalability and modern architecture as key factors in their decision.

CFE FCU also elected to implement the following Fiserv solutions, WireXchange(R) for wire funds processing, Prologue(TM) Financial Accounting Services, Nautilus(R) for document imaging and Next Multi-Channel Marketing to manage targeted product offers and service messages.

CFE FCU expanded in November 2011 when it merged with University of Central Florida (UCF) Federal Credit Union. CFE FCU now operates 19 branches in the Orlando, Fla. metropolitan area, including branches on high school and university campuses. The $1.3 billion credit union serves more than 121,000 members.

"Technology in the financial services industry is changing rapidly. We sought a solution that would be robust enough to meet our needs today, yet flexible enough to adapt to the future needs and service demands of our members," said Joseph Melbourne, President and Chief Executive Officer, CFE FCU. "We chose Fiserv, because Acumen will give us the ability to scale and achieve our membership growth goals and enhance our members' experiences."

"Fiserv provides the infrastructure and tools to help ensure that CFE can provide compelling member experiences now and well into the future. By choosing Fiserv, CFE FCU will have an account processing solution that can easily and cost-effectively scale with the credit union as it continues to grow," said Naseer Nasim, senior vice president, Credit Union Solutions, Fiserv.

Acumen is the newest choice in account processing for credit unions from Fiserv. Designed to meet the needs of the largest, most progressive credit unions, Acumen features an open architecture, advanced functionality and superior ease of use, plus the ability to cost-effectively scale as credit unions grow. Acumen is available via service bureau, in-house delivery or resource management.

Fiserv is the U.S. market leader in account processing services for financial institutions. One in three U.S. financial institutions relies on Fiserv for account processing solutions and expertise.

"Over the past few months, we have announced that a number of large credit unions have selected a new core processing platform from Fiserv. By doing this, these credit unions are making strategic technology investments that will provide new efficiency while expanding the potential for a more personalized and unique experience for their customers," said Nasim.

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