Summit Named 'Outstanding' By CO-OP Network

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Summit Information Systems has been named the "Tier One-Outstanding Processor for 2002" by CO-OP Network, the nation's largest credit union-owned electronic funds transfer (EFT) network. Summit, a unit of Fiserv, Inc., was the only core-processing vendor to receive the award, which recognizes Summit core processing system's capability to support all types of EFT transactions at volumes exceeding 500,000 transactions per month, to respond to 97% of all transaction requests within three seconds or less, and to evaluate and respond to all transaction requests with an overall approval rate of 94% or higher.

The award was based on actual average transactions processed from June 2001 to July 2002 by Summit client S.A.F.E. Credit Union of North Highlands, Calif., which was identified by the CO-OP as the best-performing CU among its nearly 400 CUs served by some 30 software vendors.

"Summit is proud to be the recipient of the 'Tier-One Outstanding Processor Award,'" said Kevin Sparks, President of Summit, who was presented with the award by The Co-Op Network's Gene Politco. "The award affirms that our technology leadership and processing capabilities satisfy a core business need for every financial institution: fast, accurate transaction processing."

The award was presented to Summit during the CO-OP Network Software Vendor Forum at the CO-OP Network EFT User's Conference.

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