Corporates Form 2 CUSOs; Sign With IFS
First Corporate CU and Northwest Corporate CU have teamed up to form two new CUSOs: CU National Image Capture (CUNIC) and CU eArchive Solutions (CUeas).
CUNIC will initially serve its owners and the more than 375 member credit unions served by the two corporates to deliver a check processing solution through vendor/partner Aurum Technology. CUeas will offer a real-time archive solution providing seven-year storage and retrieval capability. The combined volumes of the paper share draft businesses are more than 140 million items annually. Both corporates offer full-service image item processing, including Internet-based file retrieval and returns.
Meanwhile, Jacksonville, Fla.-based Fidelity Integrated Financial Solutions (IFS), a provider of total financial solutions and a division of Fidelity National Financial, Inc., said it has entered into a long-term relationship with CUNIC to deliver comprehensive check processing services to its corporate credit union members on an outsourced basis. First Corporate Credit Union will migrate from its current processing vendor to the Fidelity IFS-provided solution in April of 2004 Northwest Corporate Credit Union's conversion is slated for the third quarter of 2004.