The credit union’s president and CEO, Cathy Pace, said: “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 centers 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.
Allegacy is taking a host of Fiserv applications spanning loan originations, wire services, fraud management, marketing and the creation of personalized 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.
Founded in 1984 and based in Brookfield, Wisconsin, Fiserv teamed up with Samsung SDS America last year to jointly demonstrate Fiserv’s Commercial Center: Security with Samsung SDS biometric authentication at FinovateSpring 2018.
Allegacy FCU is the latest FI to collaborate with Fiserv. Earlier this month, Fiserv announced a trio of new Canadian credit union partners that would deploy the company’s DNA solution. Also this month, Mercury Payment Solutions and Arion Bank – headquartered in Dubai and Iceland, respectively – announced they had selected Fiserv’s AML solution, AML Risk Manager.