Core Platform Wins Touted by Biggest, Smallest
Key contract wins were announced this week by the largest and smallest core processors for credit unions.
Fiserv Inc. said that $539 million Consumers Credit Union of Waukegan, Ill., will be the second U.S. credit union to deploy its new Acumen core processing platform, converting from the Fiserv Summit platform it currently is using.
Christian Community CU in Carson, Calif., is the first to go with the new solution, which was developed in Canada and is being targeted to larger credit unions.
Fiserv provides core account processing services to about 2,500 credit unions, accounting for about a third of the market.
Meanwhile, $22 million Oregon Pioneer FCU in Portland has committed to becoming the third user of the KeyStone core platform from startup Corelation Inc. of San Diego, Calif.
Like the first two-$84 million Harbor FCU of Carson, Calif., and $171 million Cabrillo CU of San Diego-Oregon Pioneer currently runs on a Symitar platform, according to its 5300 Call Report.
The KeyStone platform was developed and Corelation launched by Symitar co-founder John Landis.