Whatcom Educational Credit Union, a $1.4 billion institution based in Bellingham, Wash., is set to convert to Fiserv's DNA core account processing platform, along with having selected Fiserv's Architect for its digital banking.
Whatcom is now the ninth billion-dollar-plus financial institution to switch to DNA in the past six months.
Fiserv explained that although Whatcom has achieved “solid” member, loan and deposit growth in the past five years, the credit union had nonetheless “reached the limits” of its current core processing system.
“Our goal is to be a full service, solution-based credit union, offering business and consumer members an experience that is on par with, or exceeds, a large commercial bank or a financial services start-up,” said Jennifer Kutcher, president and CEO of Whatcom, in a statement. “Fiserv offered the strongest commercial support of all the providers we evaluated, a unified digital solution, and integration with in-branch technology to facilitate an omni-channel experience. They have the technology and know-how to help us move into the future.”
Jeff Dykstra, executive vice president of Whatcom, stated that one of the things that “appealed” to them about Fiserv was that the products they selected are “integrated to work side-by-side and their road maps are aligned.”
Whatcom posted net income of about $15.4 million in calendar 2016, up from $13.5 million in the prior year.
