United Nations FCU Selects TEMENOS

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TEMENOS Group, a provider of integrated, modular and core banking systems, today announced that United Nations FCU has partnered with TEMENOS T24 full core and retail banking and branch system to provide its members with functionally-rich, multiple currency financial service capabilities in real time.

The alliance with TEMENOS, based in Geneva, Switzerland, is the initial step in UNFCU's plan to become the first credit union in the United States to offer its members loans and deposits in foreign currencies, namely Euros, Swiss Francs and U.S. dollars.

TEMENOS said it also provides UNFCU with the opportunity to further expand upon its multi-currency offerings going forward. Currently, more than half of UNFCU's 65,000 members reside overseas and continue to drive the institution's membership growth. UNFCU plans to expand its liaison office presence at UN hubs in Geneva and Rome in 2005.

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