Fiserv IntegraSys Unit and Floyd & Associates Help Credit Unions Implement Effective Overdraft Protection Programs; Three IntegraSys Credit Union Customers Already Signed Up.Business Editors PLANO, Texas Plano (IPA: /ˈpleɪnoʊ/) is a wealthy suburb of Dallas, Texas, located to the north, mainly within Collin County, but also extending into Denton County. According to the 2000 U.S. & HOUSTON--(BUSINESS WIRE)--Dec. 16, 2003 IntegraSys, a Plano, Texas-based business unit of Fiserv, Inc. (Nasdaq: FISV FISV Fiserv, Inc (stock symbol) ) and Houston-based John M. Floyd & Associates (JMFA JMFA John M Floyd and Associates (Baytown, TX) ) have entered into a strategic alliance that adds JMFA'S OVERDRAFT PRIVILEGE(SM) program to the IntegraSys portfolio. With this agreement, JMFA will have the ability to market the service to IntegraSys customers, which will receive discounted pricing. This is the first JMFA agreement with an information technology (IT) vendor for these services. "A well-managed overdraft privilege program provides a valuable service for credit union members - especially in this holiday shopping season," said Sara Brooks, senior vice president, Strategy and Offerings Development, for IntegraSys. "Our relationship with John M. Floyd & Associates provides our clients with access to experienced professionals who are committed to implementing a compliant and member-friendly program." JMFA helps credit unions set up overdraft privilege programs, and better manage negative account balances. The company helps implement the program, market and sell the service, and train credit union employees on how to use the program effectively. Three IntegraSys Customers Sign Up Three IntegraSys customers, including Columbus Air Force Base Columbus Air Force Base is a United States Air Force base in Lowndes County, Mississippi, treated for statistical purposes by the United States Census Bureau at a census-designated place. Federal Credit Union, at ColumbusAFB, Mississippi; Greensboro, North Carolina-based Premier Federal Credit Union; and Singing River Federal Credit Union, which serves Jackson and George Counties in Mississippi List of 82 counties in the U.S. state of Mississippi: State Abbr. FIPS State Code State MS 28 Mississippi FIPS County Code County Name 001 Adams County 003 Alcorn County 005 Amite County 007 Attala County 009 Benton County 011 Bolivar County , have already signed agreements for the service as a part of the alliance. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Lori Thompson, executive vice president at Premier Federal Credit Union, the credit union expects the majority of its members with checking accounts to participate in the new overdraft privilege program. "Just like all credit unions, we keep a close eye on the bottom line, and the possible 45-plus percent income increase is very attractive. But our main focus is offering products that will benefit our membership," said Thompson. "This program will save our members a significant amount of money by decreasing returned check fees they currently pay, which could not only improve their financial situation, but it also give them peace of mind. "We place a great deal of faith in the staff at IntegraSys and trust them to recommend a good service provider - one of the main reasons we chose John M. Floyd & Associates to develop our Overdraft Privilege program," Thomson continued. Premier FCU FCU Federal Credit Union FCU Florida Credit Union FCU Fan Coil Unit FCU Fuel Control Unit FCU Flight Control Unit FCU Flexor Carpi Ulnaris FCU Familial Cold Urticaria FCU Fire Control Unit FCU Fused Connection Unit FCU Flow Control Unit uses IntegraSys' Premier core processing solution, as well as other services including Loan Advantage, Virtual Branch Internet banking, bill pay and lending, and the Internet archiving See Web archiving and wayback Machine. tool called e-fichency(SM). Unique IT Vendor-Provider Alliance Benefits Credit Unions "Through our strategic relationship with this highly respected information technology provider, credit unions can be assured that due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. has been completed on a reliable product that will assure core processor compatibility and operating efficiency from evaluation to execution," said JMFA CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. John M. Floyd. "We have successfully implemented overdraft privilege programs in 550-plus credit unions, banks and thrifts in the past 15 years, and have a proven track record of increasing revenue and decreasing charge-offs." Overdraft privilege is an optional service for members. It is an organized, automated and structured process that allows consumer or commercial members to overdraw TO OVERDRAW. To draw bills or cheeks upon an individual, bank or other corporation, for a greater amount of funds than the party who draws is entitled to. 2. their transaction account according to a small preset limit. JMFA's nondiscriminatory service helps credit union members avoid the added expense and embarrassment of a returned share draft (check) or late payment charges on other loans, rent or mortgage payments. "Overdraft privilege programs rely on functionality within our systems for implementation," Brooks continued. "After a lengthy search process, we selected JMFA because of its ability to complement our core overdraft functionality, comprehensive selection of services, focus on compliance, and proven risk management tools - which are all huge benefits to our customers." JMFA's services can be used with most core solutions on the market today, with contract to implementation typically taking about eight weeks. Pricing can be fixed or based on volume. Fiserv completed the acquisition of IntegraSys and its products from Electronic Data Systems Corp. in July 2003. About IntegraSys For nearly three decades, IntegraSys(TM) has provided industry-leading technology to help credit unions compete--and win--in their markets. Whether clients require sophisticated service bureau or in-house technologies, IntegraSys delivers a comprehensive range of well-integrated systems and services that accelerate credit unions' growth and drive business efficiencies. The IntegraSys suite of products and services includes core processing, loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , asset and liability management, ATM and debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. services, and Internet banking, lending, bill payment and presentment services. For more information, call 888-287-3371 or visit www.integrasys.fiserv.com. Fiserv, Inc. (Nasdaq: FISV) provides industry leading information management systems and services to the financial industry, including transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. , outsourcing, business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in 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
Brookfield is a city in Waukesha County, Wisconsin, United States. The population was 38,649 at the 2000 census, but the city's population recently exceeded 40,000 people. , Fiserv reported $2.3 billion in processing and services revenues for 2002. Fiserv can be found on the Internet at www.fiserv.com. About John M. Floyd & Associates JMFA, founded in 1973, offers operational, financial and delivery system re-engineering services to financial institutions. Its diverse consulting assignments have added more than $5 billion in increased pre-tax earnings for its clients - 1,500 credit unions, banks and thrifts in 46 states and Central America. JMFA also is recognized nationally for its training, incentive and earnings enhancement programs, as well as its product, service, pricing and technology improvement consulting services. For more information, go to www.jmfa.com. |
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