AEDC Federal Credit Union Selects Summit Information Systems.

Business Editors

CORVALLIS, Ore.--(BUSINESS WIRE)--Sept. 9, 2003

AEDC Federal Credit Union, the largest federally chartered credit union in Tennessee and one of the nation's top 100 credit unions, has selected Summit Information Systems' Spectrum HP-UX-based core processing platform. AEDC has $950 million in assets and serves 117,000 members through 11 branches in Tennessee. Summit is a unit of Fiserv, Inc. (NASDAQ:FISV).

According to AEDC President Jimmie W. Bearden, her organization wanted a financially sound vendor with a proven track record of supporting large credit unions. "We required a vendor that is stable from both a financial and product standpoint. Summit and Fiserv definitely provide that," she said. "During our interviews and site visits with current Summit clients, we were amazed at the overwhelmingly positive feedback. We are also very impressed with Summit's ability to help us improve our efficiencies-- in effect, help us with our 'paperless' initiatives, across both our front and back office."

An organizational push to develop a strong sales culture at AEDC requires a nimble and flexible vendor, Bearden said. "We need the flexibility to be able to change products, programs and sales initiatives quickly, not simply take what a core processor wants to give us out of the box," she noted. "The cross-sell and relationship pricing modules in Summit's Spectrum system met our requirement to help us move towards our true sales culture vision."

Summit will provide support for both credit cards and mortgages on the core system, and the document and application integration it offers will help improve efficiency and eliminate unnecessary paperwork, according to Bearden.

"We are especially excited about the Pathways middleware product that we will be using for future integration projects," she added. "With our recently expanded call center, the Pathways product opens the door to endless possibilities for integration of third-party products. Member contact management will be one of our first post-conversion projects to potentially utilize Pathways."

Summit President Kevin Sparks said, "We are very pleased to have a high performance credit union the caliber of AEDC choose to partner with us. AEDC clearly recognizes the depth of resources, technology and large credit union perspective we are able to bring to the table. We are able to provide open and highly customizable, best-of-breed technology suited for both the largest in-house credit unions as well as a highly affordable hosted services option."

Summit Information Systems, a unit of Fiserv, Inc., provides both in-house and hosted, advanced technology solutions to more than 300 North American credit unions. For more than 20 years, Summit has focused on the long-term success of its clients by developing and supporting IT solutions, applications, and network solutions.

Summit provides product suites scaled to the needs of credit unions in addition to producing development tools for third-party application integration. The Spectrum system, the core of Summit's offerings, is a state-of-the art transaction processing system providing seamless front and back-office functionality.

Fiserv, Inc. (NASDAQ:FISV) provides industry leading information management systems and services to the financial industry, including transaction processing, outsourcing, business process outsourcing and software and systems solutions. The company serves more than 14,000 clients worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance companies and agents, self-insured employers, lenders and savings institutions. Headquartered in Brookfield, Wisconsin, Fiserv reported $2.3 billion in processing and services revenues for 2002. Fiserv can be found on the Internet at www.fiserv.com.