It was late January when the Brookfield, Wis.-based Fiserv rocked the core system universe, announcing it had acquired competitor and DNA core architect Open Solutions for roughly $1 billion, much of that in debt assumption.
Shake up continues at high end of credit union core processing market.
Running counter to the trend that finds debit card and debit rewards programs at major banks under significant pressure, the 375,000-member Randolph-Brooks Federal Credit Union passed back $6.6 million to its members who used its debit card in 2011.
Texas credit union pays back $6.6 million, a nickle or dime at a time.
CU finds that timing is everything, even when unintentional.
With the exception of an impromptu clash over the credit union tax exemption, the Federal Reserve Bank information seminars that joined credit union and community bank CEOs finished the month with a wary but shared camaraderie.
In yesterday’s release of lending data by the Federal Reserve Bank covering 2008 to early 2010, one item that caught the eye of many observers was the amount of overnight borrowings by some corporate credit unions, notably U.S. Central and WesCorp.
Three more CEOs–representing some of the largest credit unions in New York state–have now been named to serve on a special bank/CU advisory panel of the Federal Reserve Bank of New York.
The CUNA Technology Council is now offering a new report on remote deposit capture.
Credit unions that have their credit card programs listed on the Credit Card Connection are reporting increased attention thanks to the listings.