Fiserv and Symitar dominate core processing for credit unions. Data from Callahan & Associates show just how much.
Fiserv and Symitar dominate the credit union core processing business above and below the $1 billion mark.
The Lenexa, Kan.-based CNP provides core processing services used for cash management by more than 2,000 credit unions.
The $84 million CTCE Federal Credit Union of Reading, Pa., has become the 49th credit union to convert to the Symitar Episys platform through Member Driven Technologies, the suburban Detroit CUSO said.
Suburban Detroit CUSO's hosting operation notches 49th conversion to Symitar Episys platform.
For many credit unions, the sweet spot in the small business market is the mom-and-pop sector-those shops that generate respectable annual revenue and employ a handful of staffers.
To further tap the small business market, the Illinois Credit Union League has partnered with card solution firm Primax to serve as a merchant and cash advance provider for more than 3,100 credit unions.