Brookfield, Wis., May 2, 2019 – Carpathia Credit Union, based in Winnipeg, Manitoba, along with Estonian Credit Union and PARAMA Credit Union, both based in Toronto, have selected Fiserv to modernize their operations and enable them to serve members more effectively in an increasingly digital banking environment.
All three credit unions have deep roots in their communities and were seeking a contemporary technology platform to automate and streamline operations, simplify the creation of new products, and activate a full range of integrated digital services for their members. In addition to advanced technology, the credit unions wanted a provider with a strong commitment to and presence in Canada.
The credit unions’ transition to their new banking system will be led by Canadian financial technology provider Celero. Celero has significant experience helping Canadian credit unions implement Fiserv solutions, and together the companies are facilitating the digital transformation of credit unions across Canada.
Carpathia Credit Union, Estonian Credit Union and PARAMA Credit Union each selected the DNA® core account processing platform from Fiserv. DNA is used by more than 100 credit unions in Canada – including 60 of the top 100 credit unions based on assets – serving more than 1.2 million members. This broad adoption enables productive collaboration and sharing of ideas among credit unions and their staff who are familiar with the modern technologies in DNA.
“It was important for us to have a platform that would allow us to think big and to follow through on new opportunities and never question whether our banking system could handle it,” said Nick Rawluk, CEO, Carpathia Credit Union. “We selected Fiserv because of the people, the company’s positive reputation and presence in Canada, and the proven track record of continuous investment in DNA.”
DNA is a modern core account processing platform with an open architecture that makes it easy for financial institutions to integrate other solutions, bring products and services online quickly, and add new capabilities using downloadable DNAapps™. DNA also provides a 360-degree view of member relationships that enables financial institutions to deliver personalized service and more relevant product offerings.
“Fiserv is committed to delivering the operational efficiencies and digital solutions that enable clients like Carpathia Credit Union, Estonian Credit Union and PARAMA Credit Union to serve as their members’ primary financial institution,” said Rob Palin, general manager, Canada, Fiserv. “The DNA platform provides capabilities that will enable these credit unions to deliver the convenient, seamless experience their members expect from the branch to the call center to the digital channel.”
Find out more about Celero and their success helping credit unions strengthen their digital capabilities for members on celero.ca.
About Carpathia Credit Union
Founded in 1940, Carpathia Credit Union is a full-service financial institution based in Winnipeg that is owned by its 10,000+ members and associates. Carpathia is proud to support the many cultural, religious, educational and athletic organizations in the Ukrainian community, city, and province that they serve. Each year Carpathia provides more than $75,000 to community groups and events. For more information, visit carpathiacu.mb.ca.
About Estonian Credit Union
Established in 1954 to meet the financial needs of the Estonian community in the greater Toronto area, the Estonian Credit Union has flourished into a full service co-operative financial institution with close to 5,000 members. The credit union takes pride in its personalized service for everyone and is dedicated to supporting its community through donations, sponsorships, scholarships, volunteer hours, and financial education for everyone. For more information, visit estoniancu.com.
About PARAMA Credit Union
PARAMA Credit Union was established in 1952 by Lithuanians who had arrived in Canada after the Second World War, to help community members buy homes and establish new lives. PARAMA has since grown to be a modern, full-service financial co-operative, serving more than 6,000 members of Lithuanian and non-Lithuanian descent in the Greater Toronto Area. For more information, visit parama.ca.
Celero is a leading provider of digital technology and integration solutions to credit unions and financial institutions across Canada. Clients trust Celero’s proven track record delivering innovative banking technologies, digital and payment solutions, cloud computing, outsourcing, IT, and advisory services. Celero offers reliability and security through its world-class hosted banking system and data centre operations. With key partnerships across the globe, Celero also brings the scale and extensive capabilities of multinational technology companies and the focused expertise of fintech startups. For more information, visit celero.ca.
Fiserv, Inc. (NASDAQ: FISV) enables clients worldwide to create and deliver financial services experiences in step with the way people live and work today. For 35 years, Fiserv has been a trusted leader in financial services technology, helping clients achieve best-in-class results by driving quality and innovation in payments, processing services, risk and compliance, customer and channel management, and insights and optimization. Fiserv is a member of the FORTUNE® 500 and has been named among the FORTUNE Magazine World's Most Admired Companies® for six consecutive years, recognized for strength of business model, people management, social responsibility and innovation leadership. Visit fiserv.com and follow on social media for more information and the latest company news.
Celero is a leading provider of digital technology and integration solutions to credit unions and financial institutions across Canada. Clients trust Celero’s proven track record delivering innovative banking technologies, digital and payment solutions, cloud computing, outsourcing, IT and advisory services.
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