Xceed Financial Completes Integration of Merged Safeway LAFCU
The $812 million Xceed Financial Credit Union in El Segundo, Calif., spent a recent weekend completing its merger with Safeway Los Angeles Federal Credit Union with a 42-hour core processing system conversion.
The merger was approved last November by members of the $55 million Safeway LAFCU and the June 1-2 integration involved moving 16,230 accounts from the merged credit union’s Fiserv XP2 platform to the Fiserv Open Solutions system used by Xceed Financial.
Xceed Financial said it used its own staff to execute the integration, working with Open Solutions and with online banking provider Intuit Financial Services, which already was serving both credit unions.
The data integration was completed at 3 p.m. PDT on June 2, 15 hours ahead of schedule, the credit union said.
Xceed Financial now manages a total of 381,020 member accounts on its DNA core platform, the 66,900-member credit union said.
“Our associates went above and beyond to ensure that our focus, drive, and commitment to quality were consistent from day one of the merger process,” said Mark Coudriet, vice president of information technology for Xceed Financial.
“Throughout the process, former Safeway LAFCU members conveyed their excitement for all the innovative, convenient services they can now enjoy as Xceed Financial members,” said Teresa Freeborn, President and Chief Executive for Xceed Financial. “With the data integration complete, we’re thrilled to officially welcome them to the family.”
The merger, which took effect on Dec. 31, 2012, increased the Xceed Financial’s membership by nearly 20% and added a branch in Norwalk, Calif., where the 12 former Safeway LAFCU staffers now work for Xceed Financial.