Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
Large-CU core processor market share shifts says researcher
FRAMINGHAM, Mass. (3/31/10)--The market share for large credit union core processors shifted during the five-year period between 2004 and 2009, according to recently released market research. Bradway Research analyzed its market share of credit union core processing vendors between Dec. 31, 2004 and Dec. 31, 2009 and recently published its report. The report shows evidence of a dramatic decline in total credit union charters and focuses on the market share shift among the largest credit unions with assets exceeding $1 billion, said the firm. The universe of credit union core processing vendors has consolidated by acquisition. However, the remaining number of vendors is still abundant, particularly for smaller credit unions, said Bradway. As of Dec. 31, more than 50 core processing software or outsourcing vendors were still in business and handling more than one credit union. The five biggest core processing vendors by revenue--Fiserv, FIS, Symitar, Open Solutions, and Harland Financial Solutions--all have more than one core processing platform for credit unions, lead by Fiserv, Bradway said. The number of large credit unions expanded to 159 from 99, or 60%, from 2004 to 2009, while the total credit union market decreased by 3,034, or 28%. Fiserv maintained a large market share position for 2,031 credit unions with $50 million or more in assets but slipped to No. 2 in providing core processing solutions to the largest credit unions. “The market share gain by Episys from Symitar was distributed against several other credit union core platforms,” said Bill Bradway, founder and managing director of Bradway Research. “Episys’ market share moved from 23% to 33% during the five-year period.” Other vendors notching multiple takeaways during the period include Open Solutions and FIS. “The takeaway momentum decreased dramatically during 2009, most likely due to the credit crisis and the arrival of two new core processing platforms for credit unions from Fiserv and Harland Financial Solutions,” Bradway added.
Other Resources

RSS print
News Now LiveWire
Stay tuned for coverage of @CUNA's BSA conference which starts Sunday. #CUNABSA #CUNACompliance
18 hours ago
Today's the last day to complete @CUNA's Home Depot data breach survey http://t.co/UcB8G9bVXe #StoptheDataBreaches
20 hours ago
Brenda Davis of Cross Roads Ministries will walk through 83 communities during the Ending Hunger Walking tour. (2 of 2)
21 hours ago
The Ending Hunger Walking tour, coordinated by the Maine CU League, kicked off at Old Maine CU in Augusta today. (1 of 2)
21 hours ago
Darwin Brokke of Citizens Community CU represented the #CU Association of Dakotas at a housing summit hosted by @SenatorHeitkamp
21 hours ago