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Credit union consolidation has been well under way for a while, as has credit union core processing consolidation. While I have to admit that Fiserv’s recent acquisition of OSI didn’t really surprise me, the news was disappointing.

Having worked as a CTO at several credit unions using Fiserv products, as well as at what used to be Summit Information Systems, I do not believe market consolidation of cores is good for credit unions. Sure there are some good things that come from a Fiserv acquisition. Financial stability, a nice orange logo, sales people wearing orange shoes, hats and maybe even smocks are a few of the perks. Ultimately, it means further lack of choice for credit unions. 

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