Allegacy FCU takes Fiserv core and other applications
Allegacy Federal Credit Union: farewell FIS, hello Fiserv
North Carolina-based Allegacy Federal Credit Union is moving its core system to Fiserv’s Open Solutions-derived DNA, writes Martin Whybrow.
The institution is understood to be replacing FIS’s old Miser system.
The credit union’s president and CEO, Cathy Pace, says: “We needed a comprehensive solution to support our strategy of expanding commercial and member relationships, while providing the efficiency, integration and real-time processing benefits needed to manage our ongoing growth.”
Allegacy Federal Credit Union has opened six new financial centres in the last five years, with one more scheduled for this autumn. At present, it operates out 16 locations and eight high school student-run credit unions.
It is taking a host of Fiserv applications spanning loan originations, wire services, fraud management, marketing and the creation of personalised statements. It has also signed for Fiserv’s Verifast branch biometric solution, which scans a member’s unique palm-vein pattern and instantly pulls up their account for authentication and increased front-line efficiency.
Allegacy Federal Credit Union is based in Winston-Salem and has $1.43 billion in assets. It is one of the largest credit unions in North Carolina, serving more than 151,000 members.
