Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SOUTHFIELD, Mich. – Dave Palmer has no complaints about where CGI is taking the former C.U. Processing. When CGI finalized its acquisition of credit union data processor C.U. Processing last October it was one of the few remaining large independent processors in the industry. Fiserv had already swallowed up six large processors and Symitar was acquired by Jack Henry. At press time, it was almost a year to the day, (Oct. 5, 2000) that C.U. Processing was acquired by CGI. “My expectations have been pretty well met. I would rank this merger as a very positive move,” said Palmer, who now holds the title senior vice president and general manager of CGI’s Credit Union Processing Services and Solutions in the U.S. One thing C.U. Processing wanted to accomplish was to make its system Windows-based. It has done that. “We had the browser-based product. We’ve just installed it under Windows. We’re doing a lot of computer-based training and looking at improving our MRM (member relationship management) functions,” said Palmer. Palmer said like Fiserv and Jack Henry, CGI brings a lot of resources to the table. CGI is the largest independent IT firm in Canada and the fifth largest in North America. “It touches a lot of credit unions in North America some how. They run a big ATM switch in Canada and just picked up Desjardins, the French Canadian credit union system,” said Palmer. CGI provides core processing to 350 North American CUs, and supports about 2,500 ATMs. The company’s financial resources were also shown with the acquisition of CyberBranch. CyberBranch is the former CUSO of Stanford FCU, Palo Alto, Calif., run by former Stanford FCU President/CEO Warren Marshall. CyberBranch specializes in Internet and Intranet solutions for credit unions. One of its most popular products is its Loan Navigator lending solution, which provides instant decisioning. CGI acquired CyberBranch in May of this year for $1 million plus future royalty considerations. Marshall remains CEO of the unit, which employs 21 people. It had 170 CU clients at the time of the acquisition. “The acquisition of CyberBranch showed their commitment here in the U.S., and will help us move a little quicker,” said Palmer. [email protected]

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.