TALLAHASSEE, Fla. — Credit union ATM network CU24 has finished its switch conversion from Fiserv to Fifth Third.
The conversion, announced early in 2006, caused no unscheduled outages, was implemented with minimal impact to member credit unions, and had all processors, clients and network volume migrated to the new switch platform within the targeted schedule, the network reported.
"We're grateful for the patience shown by our network participants during this process, and we appreciate the solid contributions from both FTPS and Fiserv EFT to the success of the conversion," said Credit Union 24 President/CEO James Park. "We're very pleased with the results we achieved in such a short time frame, and we're now able to offer more value to our member credit unions than ever before."
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One of the first benefits of Credit Union 24′s new switch-processing environment has come in the form of a complete overhaul to the network's fee schedule, along with a substantial increase in interchange income for member credit unions, Credit Union 24 said.
The network has received criticism from some who have challenged the decision to move its credit union business to a bank-owned switch. It maintains the relationship brings its credit union customers the best value.
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