Fiserv IntegraSys Unit and Floyd & Associates Help Credit Unions Implement Effective Overdraft Protection Programs

IntegraSys (formerly Electronic Data Systems or EDS), a Plano, Texas-based business unit of Fiserv, Inc. (Nasdaq: FISV) and Houston-based John M. Floyd & Associates (JMFA) have entered into a strategic alliance that adds JMFAS OVERDRAFT PRIVILEGE(SM) program to the IntegraSys portfolio of services to the nation's credit unions.

Plano and Houston, Texas (PRWEB) December 17, 2003 --IntegraSys, a Plano, Texas-based business unit of Fiserv, Inc. (Nasdaq: FISV) and Houston-based John M. Floyd & Associates (JMFA) have entered into a strategic alliance that adds JMFAS OVERDRAFT PRIVILEGESM 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 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, have already signed agreements for the service as a part of the alliance.

     According to 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 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 tool called e-fichencySM.

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 has been completed on a reliable product that will assure core processor compatibility and operating efficiency from evaluation to execution," said JMFA CEO 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 their transaction account according to a small preset limit.

    JMFAs 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."

     JMFAs 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 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, asset and liability management, ATM and debit card 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, 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.

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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